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

First Trust Enhanced Equity Income Fund (NYSE:FFA) shares passed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $22.42 and traded as low as $21.60. First Trust Enhanced Equity Income Fund shares last traded at $21.7410, with a volume of 18,090 shares traded.

First Trust Enhanced Equity Income Fund Price Performance

The firm’s 50-day moving average price is $22.42 and its 200 day moving average price is $21.86.

First Trust Enhanced Equity Income Fund Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd will be issued a $0.3875 dividend. This represents a $1.55 dividend on an annualized basis and a dividend yield of 7.1%. The ex-dividend date of this dividend is Monday, June 22nd.

Institutional Trading of First Trust Enhanced Equity Income Fund

A number of large investors have recently made changes to their positions in FFA. Axiom Investment Management LLC acquired a new position in First Trust Enhanced Equity Income Fund in the 1st quarter valued at about $118,000. Bank of America Corp DE grew its holdings in shares of First Trust Enhanced Equity Income Fund by 6.1% during the first quarter. Bank of America Corp DE now owns 20,328 shares of the company’s stock worth $415,000 after buying an additional 1,176 shares in the last quarter. Royal Bank of Canada grew its holdings in shares of First Trust Enhanced Equity Income Fund by 6.2% during the first 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. Waverly Advisors LLC raised its position in shares of First Trust Enhanced Equity Income Fund by 7.0% in the first quarter. Waverly Advisors LLC now owns 48,892 shares of the company’s stock valued at $997,000 after buying an additional 3,200 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of First Trust Enhanced Equity Income Fund by 30.8% in the first quarter. PNC Financial Services Group Inc. now owns 8,034 shares of the company’s stock valued at $164,000 after buying 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.