The European Equity Fund, Inc. (NYSE:EEA) Sees Significant Decrease in Short Interest

Key Points

• Short interest in The European Equity Fund (NYSE:EEA) fell sharply in June, dropping 35.4% to 3,491 shares as of June 30. That amounts to just 0.1% of shares sold short, with a very low short-interest ratio of 0.1 days.
• The fund’s shares were slightly lower, trading down 0.8% to $10.84 on Friday. The stock is currently near its recent moving averages and remains within its 12-month range of $9.62 to $11.43.
• EEA increased its dividend to $0.2199 per share from $0.17 previously, paid on June 29. The reported dividend yield was 414.0%, and institutional investors continue to hold a majority of the stock.

The European Equity Fund, Inc. (NYSE:EEA - Get Free Report) was the target of a large decrease in short interest in June. As of June 30th, there was short interest totaling 3,491 shares, a decrease of 35.4% from the June 15th total of 5,407 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average daily trading volume, of 34,273 shares, the short-interest ratio is currently 0.1 days.

The European Equity Fund Stock Down 0.8%

Shares of The European Equity Fund stock traded down $0.09 during trading on Friday, reaching $10.84. The company's stock had a trading volume of 6,701 shares, compared to its average volume of 42,264. The business has a 50 day moving average price of $10.77 and a 200-day moving average price of $10.63. The European Equity Fund has a 12-month low of $9.62 and a 12-month high of $11.43.

The European Equity Fund Increases Dividend

The business also recently announced a dividend, which was paid on Monday, June 29th. Shareholders of record on Tuesday, May 26th were given a dividend of $0.2199 per share. This represents a dividend yield of 414.0%. The ex-dividend date was Tuesday, May 26th. This is an increase from The European Equity Fund's previous dividend of $0.17.

Hedge Funds Weigh In On The European Equity Fund

A number of institutional investors and hedge funds have recently made changes to their positions in EEA. Wolverine Asset Management LLC acquired a new stake in shares of The European Equity Fund in the fourth quarter valued at about $76,000. Spirepoint Private Client LLC acquired a new position in The European Equity Fund during the fourth quarter worth about $117,000. Citadel Advisors LLC acquired a new position in The European Equity Fund during the third quarter worth about $158,000. Blue Bell Private Wealth Management LLC increased its holdings in The European Equity Fund by 18.5% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 27,146 shares of the financial services provider's stock valued at $280,000 after buying an additional 4,232 shares in the last quarter. Finally, Shaker Financial Services LLC increased its holdings in The European Equity Fund by 12.7% in the fourth quarter. Shaker Financial Services LLC now owns 502,117 shares of the financial services provider's stock valued at $5,557,000 after buying an additional 56,564 shares in the last quarter. 51.94% of the stock is owned by institutional investors and hedge funds.

The European Equity Fund Company Profile

The European Equity Fund, Inc NYSE: EEA is a closed-end management investment company that seeks long-term capital appreciation by investing primarily in the equity securities of issuers located in European countries. Listed on the New York Stock Exchange, the Fund offers U.S. and international investors access to a diversified portfolio of publicly traded European companies, spanning a variety of industries and market capitalizations.

The Fund's investment strategy is built on fundamental, bottom-up research and active portfolio management.

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