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

Shares of First Trust Enhanced Equity Income Fund (NYSE:FFA) crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $22.11 and traded as high as $22.54. First Trust Enhanced Equity Income Fund shares last traded at $22.28, with a volume of 17,049 shares.

First Trust Enhanced Equity Income Fund Stock Performance

The firm’s 50 day simple moving average is $22.11 and its 200 day simple moving average is $21.81.

First Trust Enhanced Equity Income Fund Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd will be paid a dividend of $0.3875 per share. The ex-dividend date of this dividend is Monday, June 22nd. This represents a $1.55 annualized dividend and a dividend yield of 7.0%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in FFA. PMG Family Office LLC bought a new position in shares of First Trust Enhanced Equity Income Fund in the third quarter worth approximately $1,230,000. Shaker Financial Services LLC grew its holdings in shares of First Trust Enhanced Equity Income Fund by 16.8% in the fourth quarter. Shaker Financial Services LLC now owns 286,580 shares of the company’s stock worth $6,310,000 after purchasing an additional 41,233 shares during the last quarter. Readystate Asset Management LP bought a new position in shares of First Trust Enhanced Equity Income Fund in the fourth quarter worth approximately $844,000. Invesco Ltd. grew its holdings in shares of First Trust Enhanced Equity Income Fund by 8.7% in the fourth quarter. Invesco Ltd. now owns 415,134 shares of the company’s stock worth $9,141,000 after purchasing an additional 33,158 shares during the last quarter. Finally, Aurora Private Wealth Inc. bought a new position in shares of First Trust Enhanced Equity Income Fund in the fourth quarter worth approximately $534,000.

About First Trust Enhanced Equity Income Fund

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.