First Trust Enhanced Equity Income Fund (NYSE:FFA) Shares Cross Below Fifty Day Moving Average – Should You Sell?

First Trust Enhanced Equity Income Fund (NYSE:FFA)’s share price crossed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $22.42 and traded as low as $21.60. First Trust Enhanced Equity Income Fund shares last traded at $21.7410, with a volume of 18,090 shares changing hands.

First Trust Enhanced Equity Income Fund Trading Down 0.0%

The stock has a fifty day moving average price of $22.42 and a two-hundred day moving average price of $21.86.

First Trust Enhanced Equity Income Fund Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 22nd will be given a $0.3875 dividend. This represents a $1.55 annualized dividend and a dividend yield of 7.1%. The ex-dividend date is Monday, June 22nd.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Exeter Financial LLC lifted its stake in shares of First Trust Enhanced Equity Income Fund by 0.8% in the first quarter. Exeter Financial LLC now owns 579,022 shares of the company’s stock worth $11,812,000 after buying an additional 4,796 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in First Trust Enhanced Equity Income Fund by 1.0% during the 4th quarter. Wells Fargo & Company MN now owns 509,613 shares of the company’s stock valued at $11,222,000 after purchasing an additional 5,162 shares during the last quarter. Invesco Ltd. grew its holdings in shares of First Trust Enhanced Equity Income Fund by 8.7% during 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. Shaker Financial Services LLC grew its stake in shares of First Trust Enhanced Equity Income Fund by 16.8% during the fourth quarter. Shaker Financial Services LLC now owns 286,580 shares of the company’s stock valued at $6,310,000 after purchasing an additional 41,233 shares during the last quarter. Finally, UBS Group AG lifted its stake in shares of First Trust Enhanced Equity Income Fund by 1.3% during the fourth quarter. UBS Group AG now owns 276,052 shares of the company’s stock valued at $6,079,000 after acquiring an additional 3,556 shares during the period.

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.