First Trust Enhanced Equity Income Fund (NYSE:FFA) Short Interest Up 568.4% in December

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

First Trust Enhanced Equity Income Fund Stock Performance

FFA traded up $0.06 on Thursday, hitting $20.72. 26,970 shares of the company were exchanged, compared to its average volume of 23,694. The stock’s fifty day moving average is $20.62 and its 200-day moving average is $20.11. First Trust Enhanced Equity Income Fund has a 12 month low of $17.58 and a 12 month high of $21.24.

First Trust Enhanced Equity Income Fund Dividend Announcement

The company 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 $0.35 dividend. The ex-dividend date is Friday, December 20th. This represents a $1.40 annualized dividend and a dividend yield of 6.76%.

Insiders Place Their Bets

In other First Trust Enhanced Equity Income Fund news, insider James A. Bowen sold 4,003 shares of First Trust Enhanced Equity Income Fund stock in a transaction on Monday, December 16th. The shares were sold at an average price of $21.01, for a total value of $84,103.03. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. International Assets Investment Management LLC raised its position in shares of First Trust Enhanced Equity Income Fund by 1,934.5% in the third quarter. International Assets Investment Management LLC now owns 217,449 shares of the company’s stock valued at $44,230,000 after purchasing an additional 206,761 shares during the period. Integrated Wealth Concepts LLC boosted its position in shares of First Trust Enhanced Equity Income Fund by 2.0% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 73,307 shares of the company’s stock worth $1,491,000 after acquiring an additional 1,422 shares in the last quarter. Heritage Wealth Management Inc. bought a new stake in shares of First Trust Enhanced Equity Income Fund during the 2nd quarter worth $1,135,000. Truist Financial Corp lifted its holdings in shares of First Trust Enhanced Equity Income Fund by 12.9% in the second quarter. Truist Financial Corp now owns 34,451 shares of the company’s stock worth $686,000 after acquiring an additional 3,931 shares during the last quarter. Finally, Atomi Financial Group Inc. boosted its position in First Trust Enhanced Equity Income Fund by 10.8% in the third quarter. Atomi Financial Group Inc. now owns 21,290 shares of the company’s stock valued at $433,000 after buying an additional 2,069 shares in the last quarter.

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.