The European Equity Fund, Inc. (NYSE:EEA) Short Interest Up 112.3% in July

Key Points

• Short interest more than doubled to 7,413 shares as of July 15, up 112.3% from June 30, though only 0.1% of EEA’s shares are short and the days-to-cover ratio is 0.2.
• Institutional investors and hedge funds own approximately 51.94% of the fund, with several firms initiating or increasing positions, including Shaker Financial Services, which holds 502,117 shares.
• EEA shares rose 0.4% to $10.91, while the fund increased its dividend to $0.2199 per share from $0.17.

The European Equity Fund, Inc. (NYSE:EEA - Get Free Report) was the recipient of a large increase in short interest during the month of July. As of July 15th, there was short interest totaling 7,413 shares, an increase of 112.3% from the June 30th total of 3,491 shares. Based on an average daily volume of 40,541 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.1% of the shares of the stock are short sold.

Hedge Funds Weigh In On The European Equity Fund

Several large investors have recently bought and sold shares of EEA. Wolverine Asset Management LLC bought a new position in shares of The European Equity Fund in the 4th quarter worth $76,000. Spirepoint Private Client LLC acquired a new position in The European Equity Fund in the 4th quarter worth $117,000. Citadel Advisors LLC bought a new position in shares of The European Equity Fund during the third quarter worth about $158,000. Blue Bell Private Wealth Management LLC raised its holdings in shares of 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 purchasing an additional 4,232 shares during the last quarter. Finally, Shaker Financial Services LLC boosted its stake in shares of The European Equity Fund by 12.7% during the 4th quarter. Shaker Financial Services LLC now owns 502,117 shares of the financial services provider's stock worth $5,557,000 after buying an additional 56,564 shares during the last quarter. 51.94% of the stock is currently owned by institutional investors and hedge funds.

The European Equity Fund Stock Up 0.4%

NYSE EEA traded up $0.04 on Tuesday, hitting $10.91. 62,670 shares of the company were exchanged, compared to its average volume of 41,278. The European Equity Fund has a 1-year low of $9.62 and a 1-year high of $11.43. The firm has a 50 day moving average of $10.79 and a two-hundred day moving average of $10.64.

The European Equity Fund Increases Dividend

The company also recently disclosed a dividend, which was paid on Monday, June 29th. Shareholders of record on Tuesday, May 26th were issued a dividend of $0.2199 per share. The ex-dividend date of this dividend was Tuesday, May 26th. This represents a yield of 414.0%. This is a positive change from The European Equity Fund's previous dividend of $0.17.

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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