The European Equity Fund (NYSE:EEA) Stock Price Passes Above 200-Day Moving Average – Time to Sell?

Shares of The European Equity Fund, Inc. (NYSE:EEA) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $10.67 and traded as high as $10.88. The European Equity Fund shares last traded at $10.82, with a volume of 57,973 shares traded.

The European Equity Fund Trading Up 0.9%

The firm’s fifty day simple moving average is $10.74 and its 200 day simple moving average is $10.67.

The European Equity Fund Dividend Announcement

The firm also recently declared a dividend, which was paid on Friday, January 30th. Shareholders of record on Tuesday, December 30th were issued a dividend of $0.165 per share. This represents a yield of 1,462.0%. The ex-dividend date of this dividend was Tuesday, December 30th.

Institutional Investors Weigh In On The European Equity Fund

Several institutional investors have recently added to or reduced their stakes in EEA. Wolverine Asset Management LLC acquired a new position in shares of The European Equity Fund in the 4th quarter valued at $76,000. Spirepoint Private Client LLC acquired a new position in The European Equity Fund in the fourth quarter valued at $117,000. Citadel Advisors LLC purchased a new position in shares of The European Equity Fund during the third quarter worth about $158,000. Blue Bell Private Wealth Management LLC increased its position in shares of The European Equity Fund by 33.4% during the third quarter. Blue Bell Private Wealth Management LLC now owns 22,914 shares of the financial services provider’s stock worth $248,000 after purchasing an additional 5,739 shares in the last quarter. Finally, Shaker Financial Services LLC lifted its holdings in shares of The European Equity Fund by 13.9% in the 2nd quarter. Shaker Financial Services LLC now owns 447,331 shares of the financial services provider’s stock valued at $4,576,000 after purchasing an additional 54,759 shares during the last quarter. Hedge funds and other institutional investors own 51.94% of the company’s stock.

About The European Equity Fund

The European Equity Fund, Inc (NYSE: EEA) is a closed-end management investment company that seeks long-term capital appreciation by investing primarily in the equity securities of issuers located in European countries. Listed on the New York Stock Exchange, the Fund offers U.S. and international investors access to a diversified portfolio of publicly traded European companies, spanning a variety of industries and market capitalizations.

The Fund’s investment strategy is built on fundamental, bottom-up research and active portfolio management.