First Trust Enhanced Equity Income Fund (NYSE:FFA) Sees Significant Increase in Short Interest

First Trust Enhanced Equity Income Fund (NYSE:FFA) was the recipient of a large growth in short interest in the month of December. As of December 15th, there was short interest totalling 12,700 shares, a growth of 568.4% from the November 30th total of 1,900 shares. Based on an average daily volume of 23,900 shares, the short-interest ratio is currently 0.5 days.

Insider Activity at First Trust Enhanced Equity Income Fund

In related news, insider James A. Bowen sold 4,003 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $21.01, for a total transaction of $84,103.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Institutional Trading of First Trust Enhanced Equity Income Fund

A number of institutional investors and hedge funds have recently bought and sold shares of FFA. Raymond James Trust N.A. grew its position in shares of First Trust Enhanced Equity Income Fund by 4.5% during the third quarter. Raymond James Trust N.A. now owns 17,425 shares of the company’s stock valued at $354,000 after purchasing an additional 750 shares in the last quarter. Cornerstone Advisors LLC increased its stake in First Trust Enhanced Equity Income Fund by 15.2% in the 3rd quarter. Cornerstone Advisors LLC now owns 14,985 shares of the company’s stock worth $305,000 after acquiring an additional 1,973 shares during the last quarter. Moloney Securities Asset Management LLC raised its holdings in shares of First Trust Enhanced Equity Income Fund by 16.7% during the 3rd quarter. Moloney Securities Asset Management LLC now owns 11,692 shares of the company’s stock worth $238,000 after acquiring an additional 1,676 shares in the last quarter. International Assets Investment Management LLC boosted its position in shares of First Trust Enhanced Equity Income Fund by 1,934.5% during the 3rd quarter. International Assets Investment Management LLC now owns 217,449 shares of the company’s stock valued at $44,230,000 after acquiring an additional 206,761 shares during the last quarter. Finally, West Bancorporation Inc. grew its holdings in shares of First Trust Enhanced Equity Income Fund by 6.6% in the third quarter. West Bancorporation Inc. now owns 16,621 shares of the company’s stock valued at $338,000 after purchasing an additional 1,025 shares in the last quarter.

First Trust Enhanced Equity Income Fund Trading Down 0.9 %

FFA stock traded down $0.19 during midday trading on Friday, hitting $20.53. The company’s stock had a trading volume of 8,904 shares, compared to its average volume of 23,634. First Trust Enhanced Equity Income Fund has a 12 month low of $17.58 and a 12 month high of $21.24. The company has a 50 day moving average of $20.62 and a two-hundred day moving average of $20.12.

First Trust Enhanced Equity Income Fund Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 20th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $1.40 annualized dividend and a yield of 6.82%.

About First Trust Enhanced Equity Income Fund

First Trust Enhanced Equity Income Fund is a closed-ended equity mutual fund launched and managed by First Trust Advisors L.P. The fund is co-managed by Chartwell Investment Partners, L.P. It invests in public equity markets of the United States. The fund seeks to invest in stocks of companies operating across the diversified sectors.