The Central and Eastern Europe Fund, Inc. (NYSE:CEE) Sees Significant Decline in Short Interest

Key Points

• Short interest plunged 74.4% to 583 shares as of September 30, down from 2,279 shares two weeks earlier. Short interest represented 0.0% of shares outstanding, with a 0.0-day short-interest ratio.
• Institutional and hedge fund ownership accounts for 34.41% of CEE shares. Several firms initiated positions, while Weiss Asset Management increased its stake by 67.2%.
• CEE traded down 1.9% to $18.21, below its 50-day and 200-day moving averages. The closed-end fund invests primarily in companies across Central and Eastern Europe and is advised by Lazard Asset Management.

The Central and Eastern Europe Fund, Inc. (NYSE:CEE - Get Free Report) was the target of a significant drop in short interest during the month of September. As of September 30th, there was short interest totaling 583 shares, a drop of 74.4% from the September 15th total of 2,279 shares. Currently, 0.0% of the shares of the company are sold short. Based on an average daily trading volume, of 18,174 shares, the short-interest ratio is currently 0.0 days.

Hedge Funds Weigh In On The Central and Eastern Europe Fund

Several hedge funds have recently made changes to their positions in CEE. Almitas Capital LLC acquired a new stake in The Central and Eastern Europe Fund during the 2nd quarter worth about $3,560,000. Silver Point Capital L.P. purchased a new stake in The Central and Eastern Europe Fund during the 2nd quarter valued at about $1,171,967. Royal Bank of Canada purchased a new stake in The Central and Eastern Europe Fund during the 1st quarter valued at about $1,036,000. Weiss Asset Management LP grew its stake in The Central and Eastern Europe Fund by 67.2% during the 1st quarter. Weiss Asset Management LP now owns 90,968 shares of the closed-end fund's stock valued at $1,665,000 after purchasing an additional 36,569 shares during the last quarter. Finally, Wealth Care LLC acquired a new position in shares of The Central and Eastern Europe Fund in the first quarter valued at about $584,000. 34.41% of the stock is owned by institutional investors and hedge funds.

The Central and Eastern Europe Fund Trading Down 1.9%

NYSE:CEE opened at $18.21 on Friday. The Central and Eastern Europe Fund has a 12 month low of $14.82 and a 12 month high of $21.98. The firm has a fifty day simple moving average of $19.93 and a 200-day simple moving average of $20.24.

The Central and Eastern Europe Fund Company Profile

The Central and Eastern Europe Fund, Inc NYSE: CEE is a closed-end investment company focused on long-term capital appreciation. The fund invests primarily in equity securities of companies located in, or deriving a significant portion of their business from, Central and Eastern Europe.

Its portfolio may include companies across markets such as Poland, Hungary, the Czech Republic, Romania, Turkey and other countries in the region. Investments can span multiple industries and may include common stocks, preferred stocks, debt securities and other investment instruments, giving shareholders exposure to developing European economies through a professionally managed portfolio.

The fund is advised by Lazard Asset Management LLC.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.