The European Equity Fund, Inc. (NYSE:EEA) Short Interest Update

The European Equity Fund, Inc. (NYSE:EEA) saw a significant increase in short interest in the month of January. As of January 31st, there was short interest totalling 17,200 shares, an increase of 93.3% from the January 15th total of 8,900 shares. Based on an average trading volume of 19,900 shares, the days-to-cover ratio is presently 0.9 days.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Wolverine Asset Management LLC increased its position in shares of The European Equity Fund by 18.2% in the fourth quarter. Wolverine Asset Management LLC now owns 48,512 shares of the financial services provider’s stock valued at $395,000 after buying an additional 7,459 shares in the last quarter. Matisse Capital increased its position in shares of The European Equity Fund by 30.9% in the fourth quarter. Matisse Capital now owns 80,898 shares of the financial services provider’s stock valued at $659,000 after buying an additional 19,089 shares in the last quarter. Finally, Shaker Financial Services LLC increased its position in shares of The European Equity Fund by 1.0% in the third quarter. Shaker Financial Services LLC now owns 379,304 shares of the financial services provider’s stock valued at $3,558,000 after buying an additional 3,701 shares in the last quarter. Hedge funds and other institutional investors own 51.94% of the company’s stock.

The European Equity Fund Price Performance

The European Equity Fund stock traded up $0.04 during midday trading on Friday, reaching $9.03. The company’s stock had a trading volume of 2,588 shares, compared to its average volume of 24,408. The European Equity Fund has a fifty-two week low of $8.05 and a fifty-two week high of $9.47. The stock’s 50 day simple moving average is $8.50 and its 200 day simple moving average is $8.79.

The European Equity Fund Increases Dividend

The firm also recently announced a semi-annual dividend, which was paid on Friday, January 31st. Shareholders of record on Monday, December 30th were issued a $0.141 dividend. The ex-dividend date of this dividend was Monday, December 30th. This represents a yield of 2.1%. This is an increase from The European Equity Fund’s previous semi-annual dividend of $0.04.

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.