First Trust Enhanced Equity Income Fund (NYSE:FFA) Stock Passes Above 50 Day Moving Average – Here’s Why

First Trust Enhanced Equity Income Fund (NYSE:FFA)’s stock price passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $22.56 and traded as high as $23.60. First Trust Enhanced Equity Income Fund shares last traded at $23.5950, with a volume of 82,165 shares changing hands.

First Trust Enhanced Equity Income Fund Trading Down 0.1%

The firm has a 50-day moving average of $22.57 and a 200 day moving average of $22.05.

First Trust Enhanced Equity Income Fund Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd were paid a dividend of $0.3875 per share. The ex-dividend date was Monday, June 22nd. This represents a $1.55 dividend on an annualized basis and a dividend yield of 6.6%.

Hedge Funds Weigh In On First Trust Enhanced Equity Income Fund

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Blue Bell Private Wealth Management LLC acquired a new position in First Trust Enhanced Equity Income Fund during the fourth quarter worth $25,000. Allied Private Wealth LLC acquired a new stake in First Trust Enhanced Equity Income Fund in the second quarter valued at $26,000. Global Assets Advisory LLC bought a new position in shares of First Trust Enhanced Equity Income Fund in the 1st quarter valued at about $41,000. Axiom Investment Management LLC bought a new position in shares of First Trust Enhanced Equity Income Fund in the 1st quarter valued at about $118,000. Finally, PNC Financial Services Group Inc. increased its stake in shares of First Trust Enhanced Equity Income Fund by 30.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 8,034 shares of the company’s stock worth $164,000 after purchasing an additional 1,894 shares during the last quarter.

First Trust Enhanced Equity Income Fund Company Profile

First Trust Enhanced Equity Income Fund (NYSE:FFA) is a closed-end management investment company managed by First Trust Advisors L.P. The fund seeks to provide total return with an emphasis on current income. To pursue its objective, the fund employs a dual strategy that combines equity ownership in U.S. companies with a systematic covered call option overlay.

FFA primarily invests in a diversified portfolio of common stocks of large- and mid-cap U.S. companies that are selected for their potential to pay dividends.