The European Equity Fund, Inc. (NYSE:EEA) Sees Significant 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 - ) saw a significant increase in short interest during the month of July. As of July 31st, there was short interest totaling 22,300 shares, anincreaseof62.8% from the July 15th total of 13,700 shares. Approximately0.3% of the company's stock are sold short. Based on an average daily volume of 21,900 shares, the short-interest ratio is currently 1.0 days. Based on an average daily volume of 21,900 shares, the short-interest ratio is currently 1.0 days. Approximately0.3% of the company's stock are sold short.

Institutional Trading of The European Equity Fund

Several institutional investors and hedge funds have recently made changes to their positions in EEA. Shaker Financial Services LLC grew its position in The European Equity Fund by 13.9% during the second quarter. Shaker Financial Services LLC now owns 447,331 shares of the financial services provider's stock valued at $4,576,000 after buying an additional 54,759 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of The European Equity Fund by 4.6% in the second quarter. Allspring Global Investments Holdings LLC now owns 694,622 shares of the financial services provider's stock valued at $7,106,000 after acquiring an additional 30,826 shares during the period. Almitas Capital LLC boosted its position in shares of The European Equity Fund by 297.7% in the first quarter. Almitas Capital LLC now owns 63,976 shares of the financial services provider's stock valued at $582,000 after acquiring an additional 47,889 shares during the period. Ancora Advisors LLC purchased a new stake in The European Equity Fund in the first quarter valued at approximately $182,000. Finally, Wolverine Asset Management LLC raised its stake in The European Equity Fund by 23.5% in the first quarter. Wolverine Asset Management LLC now owns 59,898 shares of the financial services provider's stock valued at $545,000 after purchasing an additional 11,386 shares in the last quarter. Hedge funds and other institutional investors own 51.94% of the company's stock.

The European Equity Fund Stock Performance

Shares of EEA stock traded down $0.09 on Monday, hitting $10.60. The stock had a trading volume of 179 shares, compared to its average volume of 19,272. The business has a 50 day moving average of $10.21 and a 200 day moving average of $9.58. The European Equity Fund has a 12-month low of $8.05 and a 12-month high of $10.77.

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.

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