The European Equity Fund, Inc. (NYSE:EEA) Short Interest Update

The European Equity Fund, Inc. (NYSE:EEA) was the target of a significant growth in short interest in June. As of June 15th, there was short interest totalling 5,100 shares, a growth of 466.7% from the May 31st total of 900 shares. Based on an average daily trading volume, of 9,700 shares, the days-to-cover ratio is presently 0.5 days.

The European Equity Fund Stock Down 0.1 %

Shares of EEA stock opened at $8.98 on Friday. The European Equity Fund has a one year low of $7.45 and a one year high of $9.40. The company’s 50-day simple moving average is $9.02 and its 200-day simple moving average is $8.79.

The European Equity Fund Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Tuesday, June 4th. Stockholders of record on Friday, May 24th were given a $0.0376 dividend. The ex-dividend date was Thursday, May 23rd. This represents a dividend yield of 1.9%.

Hedge Funds Weigh In On The European Equity Fund

Hedge funds have recently added to or reduced their stakes in the business. Lazard Asset Management LLC lifted its holdings in shares of The European Equity Fund by 1.6% in the 1st quarter. Lazard Asset Management LLC now owns 192,009 shares of the financial services provider’s stock worth $1,710,000 after purchasing an additional 3,098 shares during the last quarter. Matisse Capital acquired a new position in The European Equity Fund during the 1st quarter valued at about $330,000. Uncommon Cents Investing LLC grew its position in The European Equity Fund by 1.6% in the 1st quarter. Uncommon Cents Investing LLC now owns 305,063 shares of the financial services provider’s stock worth $2,718,000 after purchasing an additional 4,750 shares during the last quarter. Shaker Financial Services LLC raised its holdings in shares of The European Equity Fund by 5.9% during the fourth quarter. Shaker Financial Services LLC now owns 326,171 shares of the financial services provider’s stock valued at $2,863,000 after buying an additional 18,188 shares during the last quarter. Finally, Wolverine Asset Management LLC increased its position in The European Equity Fund by 8.5% in the 4th quarter. Wolverine Asset Management LLC now owns 16,789 shares of the financial services provider’s stock valued at $145,000 after acquiring an additional 1,315 shares during the period. Institutional investors and hedge funds own 51.94% of the company’s stock.

About The European Equity Fund

The European Equity Fund, Inc is a closed ended equity mutual fund launched by Deutsche Investment Management Americas Inc The fund is managed by Deutsche Asset Management International GmbH. It invests in the public equity markets of Europe. The fund seeks to invest in the stocks of companies operating across diversified sectors.