Short Interest in The European Equity Fund, Inc. (NYSE:EEA) Decreases By 70.1%

The European Equity Fund, Inc. (NYSE:EEA - Get Free Report) was the recipient of a significant decline in short interest in the month of May. As of May 15th, there was short interest totalling 8,900 shares, a decline of 70.1% from the April 30th total of 29,800 shares. Based on an average daily volume of 25,000 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.1% of the company's shares are sold short.

The European Equity Fund Trading Down 0.4%

EEA traded down $0.04 during trading on Friday, hitting $9.88. 23,826 shares of the stock were exchanged, compared to its average volume of 15,880. The firm has a 50 day simple moving average of $9.31 and a 200 day simple moving average of $8.90. The European Equity Fund has a 1 year low of $8.05 and a 1 year high of $9.98.

The European Equity Fund Cuts Dividend

The business also recently announced a semi-annual dividend, which will be paid on Friday, June 6th. Shareholders of record on Tuesday, May 27th will be paid a $0.0297 dividend. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a yield of 1.8%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Matisse Capital grew its stake in shares of The European Equity Fund by 30.9% during the fourth quarter. Matisse Capital now owns 80,898 shares of the financial services provider's stock worth $659,000 after acquiring an additional 19,089 shares during the last quarter. Wolverine Asset Management LLC grew its position in The European Equity Fund by 18.2% during the 4th quarter. Wolverine Asset Management LLC now owns 48,512 shares of the financial services provider's stock worth $395,000 after purchasing an additional 7,459 shares during the last quarter. Almitas Capital LLC acquired a new position in The European Equity Fund during the 4th quarter valued at approximately $131,000. Ancora Advisors LLC acquired a new position in The European Equity Fund during the 1st quarter valued at approximately $182,000. Finally, Shaker Financial Services LLC raised its holdings in shares of The European Equity Fund by 30.2% in the first quarter. Shaker Financial Services LLC now owns 392,572 shares of the financial services provider's stock worth $3,572,000 after buying an additional 91,113 shares during the last quarter. 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.