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

First Trust Enhanced Equity Income Fund (NYSE:FFA)’s stock price passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $22.52 and traded as high as $22.67. First Trust Enhanced Equity Income Fund shares last traded at $22.6010, with a volume of 11,814 shares traded.

First Trust Enhanced Equity Income Fund Stock Up 0.3%

The business has a fifty day moving average of $22.52 and a 200 day moving average of $21.93.

First Trust Enhanced Equity Income Fund Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd were paid a dividend of $0.3875 per share. This represents a $1.55 annualized dividend and a dividend yield of 6.9%. The ex-dividend date was Monday, June 22nd.

Institutional Trading of First Trust Enhanced Equity Income Fund

A number of hedge funds have recently made changes to their positions in the stock. Blue Bell Private Wealth Management LLC acquired a new position in shares of First Trust Enhanced Equity Income Fund in the 4th quarter worth approximately $25,000. Global Retirement Partners LLC raised its position in shares of First Trust Enhanced Equity Income Fund by 2,543.3% during the 4th quarter. Global Retirement Partners LLC now owns 24,318 shares of the company’s stock valued at $535,000 after acquiring an additional 23,398 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of First Trust Enhanced Equity Income Fund by 23.5% during the 4th quarter. International Assets Investment Management LLC now owns 12,792 shares of the company’s stock valued at $282,000 after acquiring an additional 2,437 shares in the last quarter. Truist Financial Corp lifted its stake in First Trust Enhanced Equity Income Fund by 28.3% during the fourth quarter. Truist Financial Corp now owns 78,546 shares of the company’s stock worth $1,730,000 after purchasing an additional 17,323 shares during the last quarter. Finally, Benjamin Edwards Inc. lifted its stake in First Trust Enhanced Equity Income Fund by 7.4% during the fourth quarter. Benjamin Edwards Inc. now owns 17,203 shares of the company’s stock worth $379,000 after purchasing an additional 1,186 shares during the last quarter.

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.