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

First Trust Enhanced Equity Income Fund (NYSE:FFA)’s stock price crossed above its 50-day moving average during trading on Wednesday following insider buying activity. 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 changing hands.

First Trust Enhanced Equity Income Fund Stock Performance

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

First Trust Enhanced Equity Income Fund Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 20th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 6.84%. The ex-dividend date of this dividend is Friday, December 20th.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC grew its stake in shares of First Trust Enhanced Equity Income Fund by 1,934.5% in the third quarter. International Assets Investment Management LLC now owns 217,449 shares of the company’s stock worth $44,230,000 after acquiring an additional 206,761 shares during the period. Integrated Wealth Concepts LLC boosted its stake in shares of First Trust Enhanced Equity Income Fund by 2.0% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 73,307 shares of the company’s stock worth $1,491,000 after buying an additional 1,422 shares during the last quarter. Heritage Wealth Management Inc. bought a new stake in shares of First Trust Enhanced Equity Income Fund during the 2nd quarter valued at about $1,135,000. Truist Financial Corp increased its position in shares of First Trust Enhanced Equity Income Fund by 12.9% during the 2nd quarter. Truist Financial Corp now owns 34,451 shares of the company’s stock valued at $686,000 after purchasing an additional 3,931 shares during the last quarter. Finally, Atomi Financial Group Inc. increased its position in shares of First Trust Enhanced Equity Income Fund by 10.8% during the 3rd quarter. Atomi Financial Group Inc. now owns 21,290 shares of the company’s stock valued at $433,000 after purchasing an additional 2,069 shares during the last quarter.

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.