First Trust Enhanced Equity Income Fund (NYSE:FFA) Shares Pass Above 50 Day Moving Average Following Insider Selling

First Trust Enhanced Equity Income Fund (NYSE:FFA)’s share price passed above its fifty day moving average during trading on Wednesday after an insider bought additional shares in the company. The stock has a fifty day moving average of $20.62 and traded as high as $20.99. First Trust Enhanced Equity Income Fund shares last traded at $20.47, with a volume of 21,208 shares trading hands.

First Trust Enhanced Equity Income Fund Price Performance

The company has a fifty day moving average price of $20.62 and a 200-day moving average price of $20.06.

First Trust Enhanced Equity Income Fund Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 20th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 6.84%. The ex-dividend date is Friday, December 20th.

Institutional Trading of First Trust Enhanced Equity Income Fund

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Moloney Securities Asset Management LLC bought a new stake in First Trust Enhanced Equity Income Fund during the 2nd quarter valued at $200,000. Benjamin Edwards Inc. purchased a new stake in shares of First Trust Enhanced Equity Income Fund during the third quarter worth about $242,000. Cornerstone Advisors LLC acquired a new stake in First Trust Enhanced Equity Income Fund in the 2nd quarter worth approximately $259,000. Sanctuary Advisors LLC purchased a new position in shares of First Trust Enhanced Equity Income Fund in the second quarter worth $308,000. Finally, West Bancorporation Inc. lifted its stake in shares of First Trust Enhanced Equity Income Fund by 51.5% during the second quarter. West Bancorporation Inc. now owns 15,596 shares of the company’s stock worth $311,000 after buying an additional 5,300 shares during the period.

First Trust Enhanced Equity Income Fund Company Profile

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.