The European Equity Fund (NYSE:EEA) Shares Down 0.5% – What’s Next?

The European Equity Fund, Inc. (NYSE:EEA)’s share price fell 0.5% during mid-day trading on Thursday . The stock traded as low as $8.22 and last traded at $8.25. 9,128 shares traded hands during mid-day trading, a decline of 60% from the average session volume of 22,866 shares. The stock had previously closed at $8.29.

The European Equity Fund Trading Down 0.5 %

The company has a fifty day moving average of $8.50 and a 200 day moving average of $8.88.

The European Equity Fund Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Friday, January 31st. Investors of record on Monday, December 30th will be paid a dividend of $0.141 per share. The ex-dividend date is Monday, December 30th. This represents a yield of 2.1%. This is a boost from The European Equity Fund’s previous semi-annual dividend of $0.04.

Institutional Investors Weigh In On The European Equity Fund

A number of institutional investors and hedge funds have recently modified their holdings of EEA. Logan Stone Capital LLC acquired a new stake in The European Equity Fund during the 2nd quarter worth about $117,000. Wolverine Asset Management LLC increased its stake in shares of The European Equity Fund by 25.4% in the third quarter. Wolverine Asset Management LLC now owns 41,053 shares of the financial services provider’s stock worth $385,000 after acquiring an additional 8,320 shares during the last quarter. Finally, Shaker Financial Services LLC raised its holdings in shares of The European Equity Fund by 1.0% during the third quarter. Shaker Financial Services LLC now owns 379,304 shares of the financial services provider’s stock worth $3,558,000 after acquiring an additional 3,701 shares in the last quarter. Institutional investors and hedge funds own 51.94% of the company’s stock.

About The European Equity Fund

The European Equity Fund, Inc is a closed ended equity mutual fund launched by Deutsche Investment Management Americas Inc The fund is managed by Deutsche Asset Management International GmbH. It invests in the public equity markets of Europe. The fund seeks to invest in the stocks of companies operating across diversified sectors.