The European Equity Fund, Inc. (NYSE:EEA) Sees Large Decline in Short Interest

The European Equity Fund, Inc. (NYSE:EEA) saw a large decrease in short interest in November. As of November 15th, there was short interest totalling 2,500 shares, a decrease of 13.8% from the October 31st total of 2,900 shares. Based on an average trading volume of 7,700 shares, the short-interest ratio is presently 0.3 days.

The European Equity Fund Price Performance

EEA opened at $8.59 on Tuesday. The company’s 50 day simple moving average is $8.85 and its two-hundred day simple moving average is $9.01. The European Equity Fund has a 1-year low of $8.19 and a 1-year high of $9.47.

Hedge Funds Weigh In On The European Equity Fund

A number of institutional investors have recently added to or reduced their stakes in EEA. Wolverine Asset Management LLC increased its stake in shares of The European Equity Fund by 25.4% in the 3rd quarter. Wolverine Asset Management LLC now owns 41,053 shares of the financial services provider’s stock worth $385,000 after acquiring an additional 8,320 shares during the last quarter. Shaker Financial Services LLC increased its position in The European Equity Fund by 1.0% during the third quarter. Shaker Financial Services LLC now owns 379,304 shares of the financial services provider’s stock worth $3,558,000 after purchasing an additional 3,701 shares during the last quarter. Logan Stone Capital LLC purchased a new position in The European Equity Fund during the second quarter worth about $117,000. Finally, Allspring Global Investments Holdings LLC raised its stake in The European Equity Fund by 2.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 696,458 shares of the financial services provider’s stock worth $6,255,000 after purchasing an additional 13,335 shares during the period. Hedge funds and other institutional investors own 51.94% of the company’s stock.

The European Equity Fund Company Profile

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.