First Trust Enhanced Equity Income Fund (NYSE:FFA) Share Price Passes Above 50 Day Moving Average After Insider Selling

First Trust Enhanced Equity Income Fund (NYSE:FFA)’s share price passed above its 50 day moving average during trading on Wednesday after an insider bought additional shares in the company. The stock has a 50 day moving average of $20.62 and traded as high as $20.99. First Trust Enhanced Equity Income Fund shares last traded at $20.47, with a volume of 21,208 shares.

First Trust Enhanced Equity Income Fund Price Performance

The firm has a 50 day moving average of $20.62 and a 200-day moving average of $20.06.

First Trust Enhanced Equity Income Fund Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 20th will be paid a $0.35 dividend. The ex-dividend date is Friday, December 20th. This represents a $1.40 dividend on an annualized basis and a yield of 6.88%.

Institutional Investors Weigh In On First Trust Enhanced Equity Income Fund

Large investors have recently modified their holdings of the business. International Assets Investment Management LLC boosted its stake in shares of First Trust Enhanced Equity Income Fund by 1,934.5% in the 3rd quarter. International Assets Investment Management LLC now owns 217,449 shares of the company’s stock valued at $44,230,000 after purchasing an additional 206,761 shares in the last quarter. Heritage Wealth Management Inc. acquired a new position in First Trust Enhanced Equity Income Fund in the 2nd quarter valued at approximately $1,135,000. Atomi Financial Group Inc. bought a new position in shares of First Trust Enhanced Equity Income Fund during the second quarter valued at $383,000. Sanctuary Advisors LLC bought a new stake in shares of First Trust Enhanced Equity Income Fund in the second quarter worth $308,000. Finally, Cornerstone Advisors LLC acquired a new position in First Trust Enhanced Equity Income Fund during the 2nd quarter worth about $259,000.

About First Trust Enhanced Equity Income Fund

First Trust Enhanced Equity Income Fund is a closed-ended equity mutual fund launched and managed by First Trust Advisors L.P. The fund is co-managed by Chartwell Investment Partners, L.P. It invests in public equity markets of the United States. The fund seeks to invest in stocks of companies operating across the diversified sectors.