First Trust Enhanced Equity Income Fund (NYSE:FFA) Share Price Crosses Above 50 Day Moving Average After Insider Selling

Shares of First Trust Enhanced Equity Income Fund (NYSE:FFA) passed above its 50 day moving average during trading on Wednesday after an insider bought additional shares in the company. The stock has a 50 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 Stock Performance

The business has a fifty day moving average of $20.62 and a two-hundred day moving average of $20.06.

First Trust Enhanced Equity Income Fund Dividend Announcement

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 paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.84%. The ex-dividend date of this dividend is Friday, December 20th.

Institutional Investors Weigh In On First Trust Enhanced Equity Income Fund

Several hedge funds have recently bought and sold shares of FFA. Integrated Wealth Concepts LLC boosted its position in shares of First Trust Enhanced Equity Income Fund by 2.0% in the third quarter. Integrated Wealth Concepts LLC now owns 73,307 shares of the company’s stock valued at $1,491,000 after acquiring an additional 1,422 shares during the period. Benjamin Edwards Inc. acquired a new stake in First Trust Enhanced Equity Income Fund during the third quarter worth about $242,000. D.A. Davidson & CO. boosted its position in shares of First Trust Enhanced Equity Income Fund by 62.9% during the 3rd quarter. D.A. Davidson & CO. now owns 18,749 shares of the company’s stock worth $381,000 after acquiring an additional 7,239 shares in the last quarter. Raymond James Trust N.A. raised its position in First Trust Enhanced Equity Income Fund by 4.5% during the third quarter. Raymond James Trust N.A. now owns 17,425 shares of the company’s stock valued at $354,000 after purchasing an additional 750 shares in the last quarter. Finally, Cornerstone Advisors LLC lifted its position in shares of First Trust Enhanced Equity Income Fund by 15.2% during the 3rd quarter. Cornerstone Advisors LLC now owns 14,985 shares of the company’s stock worth $305,000 after buying an additional 1,973 shares during 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.