First Trust Enhanced Equity Income Fund (NYSE:FFA) Stock Crosses Below 50 Day Moving Average – Should You Sell?

First Trust Enhanced Equity Income Fund (NYSE:FFA) passed below its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $22.78 and traded as low as $22.10. First Trust Enhanced Equity Income Fund shares last traded at $22.1990, with a volume of 13,764 shares trading hands.

First Trust Enhanced Equity Income Fund Stock Performance

The business has a 50-day simple moving average of $22.78 and a two-hundred day simple moving average of $22.55.

First Trust Enhanced Equity Income Fund Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 22nd were given a $0.4250 dividend. This is a boost from First Trust Enhanced Equity Income Fund’s previous quarterly dividend of $0.3875. This represents a $1.70 dividend on an annualized basis and a dividend yield of 7.7%. The ex-dividend date of this dividend was Tuesday, September 22nd.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in FFA. Global Retirement Partners LLC bought a new position in First Trust Enhanced Equity Income Fund in the second quarter valued at $736,000. Bank of America Corp DE acquired a new stake in First Trust Enhanced Equity Income Fund in the 2nd quarter valued at $480,000. Royal Bank of Canada lifted its position in First Trust Enhanced Equity Income Fund by 6.2% during the 1st quarter. Royal Bank of Canada now owns 260,072 shares of the company’s stock worth $5,305,000 after buying an additional 15,241 shares in the last quarter. Fifth Third Bancorp bought a new stake in First Trust Enhanced Equity Income Fund during the 1st quarter worth about $287,000. Finally, Sanctuary Advisors LLC bought a new stake in First Trust Enhanced Equity Income Fund during the 2nd quarter worth about $293,000.

First Trust Enhanced Equity Income Fund Company Profile

First Trust Enhanced Equity Income Fund (NYSE: FFA) is a closed-end investment company designed to provide investors with current income and long-term capital appreciation. The fund invests primarily in dividend-paying common stocks and other equity securities.

To enhance portfolio income, the fund may employ an options strategy that includes writing covered call options on selected securities. This approach can generate option premiums in addition to dividend income, while also influencing the portfolio’s potential for capital appreciation and downside protection.

FFA is advised by First Trust Advisors L.P., an investment adviser affiliated with First Trust, a provider of investment management and financial products.