Short Interest in The Central and Eastern Europe Fund, Inc. (NYSE:CEE) Drops By 70.1%

Key Points

• Short interest in CEE fell 70.1% to 1,520 shares as of August 31, down from 5,084 shares on August 15. Only about 0.0% of shares are sold short, with a short-interest ratio of 0.0 days.
• CEE shares rose 0.3% to $20.00 in Friday trading. The fund’s 52-week range is $14.76 to $21.98, while its 50-day and 200-day moving averages are $20.64 and $20.17, respectively.
• Institutional ownership stands at 34.41%, with several hedge funds initiating positions and Weiss Asset Management increasing its stake by 67.2%.

The Central and Eastern Europe Fund, Inc. (NYSE:CEE - Get Free Report) was the target of a large decrease in short interest in August. As of August 31st, there was short interest totaling 1,520 shares, a decrease of 70.1% from the August 15th total of 5,084 shares. Based on an average daily trading volume, of 42,193 shares, the short-interest ratio is currently 0.0 days. Approximately 0.0% of the company's shares are sold short.

The Central and Eastern Europe Fund Trading Up 0.3%

CEE traded up $0.06 during trading on Friday, hitting $20.00. The company had a trading volume of 10,309 shares, compared to its average volume of 27,137. The Central and Eastern Europe Fund has a one year low of $14.76 and a one year high of $21.98. The firm's 50-day moving average price is $20.64 and its 200 day moving average price is $20.17.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Susquehanna International Group LLP acquired a new stake in The Central and Eastern Europe Fund in the 2nd quarter valued at $282,000. Almitas Capital LLC bought a new position in shares of The Central and Eastern Europe Fund in the second quarter valued at about $3,560,000. Silver Point Capital L.P. bought a new position in The Central and Eastern Europe Fund in the 2nd quarter valued at about $1,171,967. Royal Bank of Canada acquired a new stake in The Central and Eastern Europe Fund during the 1st quarter worth approximately $1,036,000. Finally, Weiss Asset Management LP raised its stake in The Central and Eastern Europe Fund by 67.2% in the 1st quarter. Weiss Asset Management LP now owns 90,968 shares of the closed-end fund's stock worth $1,665,000 after purchasing an additional 36,569 shares in the last quarter. 34.41% of the stock is currently owned by institutional investors.

The Central and Eastern Europe Fund Company Profile

The Central and Eastern Europe Fund, Inc NYSE: CEE is a closed-end management investment company that seeks to provide shareholders with long-term growth of capital and a high level of current income. Since its initial public offering in 1994, the fund has focused on equity and equity-related securities of companies operating in Central and Eastern Europe. Shares of CEE are traded on the New York Stock Exchange, offering U.S. investors direct exposure to the economic growth and development of this dynamic region.

CEE's investment strategy combines a macroeconomic top-down framework with rigorous bottom-up security selection.

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