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

First Trust Enhanced Equity Income Fund (NYSE:FFA) shares passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $22.52 and traded as high as $22.67. First Trust Enhanced Equity Income Fund shares last traded at $22.6010, with a volume of 11,814 shares trading hands.

First Trust Enhanced Equity Income Fund Stock Performance

The company has a 50 day moving average price of $22.52 and a 200 day moving average price of $21.94.

First Trust Enhanced Equity Income Fund Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd were given a dividend of $0.3875 per share. This represents a $1.55 dividend on an annualized basis and a yield of 6.8%. The ex-dividend date of this dividend was Monday, June 22nd.

Hedge Funds Weigh In On First Trust Enhanced Equity Income Fund

Large investors have recently modified their holdings of the stock. PMG Family Office LLC acquired a new position in First Trust Enhanced Equity Income Fund in the 3rd quarter valued at about $1,230,000. Shaker Financial Services LLC raised its holdings in First Trust Enhanced Equity Income Fund by 16.8% in the 4th quarter. Shaker Financial Services LLC now owns 286,580 shares of the company’s stock valued at $6,310,000 after acquiring an additional 41,233 shares during the period. Readystate Asset Management LP acquired a new stake in First Trust Enhanced Equity Income Fund during the fourth quarter worth approximately $844,000. Invesco Ltd. lifted its position in First Trust Enhanced Equity Income Fund by 8.7% during the fourth quarter. Invesco Ltd. now owns 415,134 shares of the company’s stock worth $9,141,000 after acquiring an additional 33,158 shares during the last quarter. Finally, Aurora Private Wealth Inc. bought a new stake in shares of First Trust Enhanced Equity Income Fund during the fourth quarter worth approximately $534,000.

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.