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

Key Points

• Short interest in CEE fell sharply in June, dropping 76.8% to 3,760 shares as of June 30 from 16,225 shares on June 15. The stock’s short-interest ratio is now just 0.1 days, with only 0.1% of shares sold short.
• Institutional investors have been adding to positions, including sizable increases from Freestone Capital Holdings, Weiss Asset Management, Stifel Financial, and Bulldog Investors. Overall, institutional ownership stands at 34.41%.
• The fund’s shares traded near recent highs, rising to $21.07 on Friday and remaining close to their 50-day moving average of $20.99. The stock has ranged from a 12-month low of $14.25 to a high of $21.98.

The Central and Eastern Europe Fund, Inc. (NYSE:CEE - Get Free Report) saw a large drop in short interest in June. As of June 30th, there was short interest totaling 3,760 shares, a drop of 76.8% from the June 15th total of 16,225 shares. Based on an average daily volume of 28,242 shares, the short-interest ratio is presently 0.1 days. Currently, 0.1% of the shares of the stock are short sold.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Freestone Capital Holdings LLC boosted its holdings in shares of The Central and Eastern Europe Fund by 295.2% during the 4th quarter. Freestone Capital Holdings LLC now owns 177,858 shares of the closed-end fund's stock valued at $3,148,000 after acquiring an additional 132,858 shares in the last quarter. Weiss Asset Management LP raised its position in The Central and Eastern Europe Fund by 67.2% in the first 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. Stifel Financial Corp raised its position in The Central and Eastern Europe Fund by 23.0% in the fourth quarter. Stifel Financial Corp now owns 76,840 shares of the closed-end fund's stock valued at $1,360,000 after purchasing an additional 14,384 shares during the last quarter. Bulldog Investors LLP boosted its stake in shares of The Central and Eastern Europe Fund by 440.9% during the third quarter. Bulldog Investors LLP now owns 72,345 shares of the closed-end fund's stock valued at $1,111,000 after purchasing an additional 58,971 shares in the last quarter. Finally, Royal Bank of Canada acquired a new stake in shares of The Central and Eastern Europe Fund during the first quarter valued at about $1,036,000. 34.41% of the stock is currently owned by institutional investors and hedge funds.

The Central and Eastern Europe Fund Price Performance

CEE stock traded up $0.11 during trading on Friday, reaching $21.07. 13,584 shares of the company were exchanged, compared to its average volume of 24,368. The company has a 50-day moving average of $20.99 and a two-hundred day moving average of $19.52. The Central and Eastern Europe Fund has a twelve month low of $14.25 and a twelve month high of $21.98.

About The Central and Eastern Europe Fund

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.

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.