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

Key Points

• The European Equity Fund, Inc. (NYSE:EEA) experienced a substantial increase in short interest, rising by 62.8% to 22,300 shares as of July 31st, 2023.
• Several institutional investors, including Shaker Financial Services LLC and Allspring Global Investments Holdings LLC, have increased their positions in EEA, indicating growing confidence in the fund.
• As of the latest trading, EEA stock is priced at $10.60, with a 12-month range between $8.05 and $10.77.

The European Equity Fund, Inc. (NYSE:EEA - Get Free Report) saw a large increase in short interest in July. As of July 31st, there was short interest totaling 22,300 shares, anincreaseof62.8% from the July 15th total of 13,700 shares. Currently,0.3% of the company's shares are sold short. Based on an average daily trading volume, of 21,900 shares, the days-to-cover ratio is currently 1.0 days. Based on an average daily trading volume, of 21,900 shares, the days-to-cover ratio is currently 1.0 days. Currently,0.3% of the company's shares are sold short.

The European Equity Fund Stock Up 1.9%

NYSE:EEA traded up $0.2050 during trading hours on Friday, hitting $10.8150. The company had a trading volume of 66,225 shares, compared to its average volume of 17,209. The company has a 50-day moving average of $10.27 and a 200 day moving average of $9.63. The European Equity Fund has a 1 year low of $8.05 and a 1 year high of $10.82.

Institutional Trading of The European Equity Fund

Several large investors have recently added to or reduced their stakes in EEA. Matisse Capital grew its holdings in The European Equity Fund by 132.5% in the 1st quarter. Matisse Capital now owns 188,070 shares of the financial services provider's stock valued at $1,711,000 after buying an additional 107,172 shares in the last quarter. Shaker Financial Services LLC grew its holdings in The European Equity Fund by 30.2% in the 1st quarter. Shaker Financial Services LLC now owns 392,572 shares of the financial services provider's stock valued at $3,572,000 after buying an additional 91,113 shares in the last quarter. Almitas Capital LLC grew its holdings in The European Equity Fund by 297.7% in the 1st quarter. Almitas Capital LLC now owns 63,976 shares of the financial services provider's stock valued at $582,000 after buying an additional 47,889 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in The European Equity Fund by 4.6% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 694,622 shares of the financial services provider's stock valued at $7,106,000 after buying an additional 30,826 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in The European Equity Fund by 5,436.4% in the 4th quarter. Bank of America Corp DE now owns 21,149 shares of the financial services provider's stock valued at $172,000 after buying an additional 20,767 shares in the last quarter. 51.94% of the stock is currently owned by hedge funds and other institutional investors.

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.