Eaton Vance Enhanced Equity Income Fund (NYSE:EOI) Sees Large Growth in Short Interest

Eaton Vance Enhanced Equity Income Fund (NYSE:EOI) saw a large increase in short interest during the month of June. As of June 30th, there was short interest totaling 20,281 shares, an increase of 94.1% from the June 15th total of 10,447 shares. Based on an average daily trading volume, of 78,790 shares, the days-to-cover ratio is presently 0.3 days.

Insider Activity

In related news, Portfolio Manager Charles Gaffney bought 25,000 shares of Eaton Vance Enhanced Equity Income Fund stock in a transaction that occurred on Monday, July 13th. The stock was acquired at an average price of $20.11 per share, with a total value of $502,750.00. Following the acquisition, the portfolio manager owned 25,000 shares of the company’s stock, valued at approximately $502,750. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Institutional Trading of Eaton Vance Enhanced Equity Income Fund

Several hedge funds have recently added to or reduced their stakes in the company. Fifth Third Bancorp bought a new stake in Eaton Vance Enhanced Equity Income Fund in the 1st quarter valued at $28,000. Eagle Bay Advisors LLC bought a new position in Eaton Vance Enhanced Equity Income Fund during the 4th quarter worth $31,000. Kestra Advisory Services LLC bought a new position in Eaton Vance Enhanced Equity Income Fund during the 4th quarter worth $67,000. JPMorgan Chase & Co. lifted its holdings in shares of Eaton Vance Enhanced Equity Income Fund by 15.7% during the third quarter. JPMorgan Chase & Co. now owns 4,428 shares of the company’s stock worth $93,000 after buying an additional 600 shares in the last quarter. Finally, Axiom Investment Management LLC acquired a new stake in shares of Eaton Vance Enhanced Equity Income Fund during the first quarter worth $114,000.

Eaton Vance Enhanced Equity Income Fund Stock Down 0.5%

Eaton Vance Enhanced Equity Income Fund stock traded down $0.09 during trading hours on Thursday, hitting $20.03. The company had a trading volume of 66,292 shares, compared to its average volume of 81,371. The firm has a 50-day moving average of $19.67 and a 200 day moving average of $19.94. Eaton Vance Enhanced Equity Income Fund has a one year low of $18.03 and a one year high of $21.58.

Eaton Vance Enhanced Equity Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th will be given a $0.1338 dividend. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a c) annualized dividend and a dividend yield of 8.0%.

About Eaton Vance Enhanced Equity Income Fund

The Eaton Vance Enhanced Equity Income Fund (NYSE: EOI) is a closed-end management investment company that seeks to deliver a high level of current income, with a secondary objective of long-term capital appreciation. The fund invests primarily in dividend-paying common stocks of U.S. companies and may also hold preferred stocks and other equity securities. To enhance income potential, the fund employs a covered-call strategy by selling call options on a portion of its equity portfolio.

Under normal market conditions, the fund’s portfolio managers select large- and mid-capitalization equities with the potential for dividend growth and price appreciation.