The European Equity Fund, Inc. (NYSE:EEA – Get Rating) was the recipient of a large growth in short interest in December. As of December 15th, there was short interest totalling 13,500 shares, a growth of 75.3% from the November 30th total of 7,700 shares. Based on an average daily volume of 11,300 shares, the short-interest ratio is currently 1.2 days.
The European Equity Fund Price Performance
EEA opened at $7.50 on Friday. The firm has a 50-day simple moving average of $7.56 and a two-hundred day simple moving average of $7.23. The European Equity Fund has a 52 week low of $6.06 and a 52 week high of $10.92.
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The European Equity Fund Dividend Announcement
The firm also recently disclosed a Semi-Annual dividend, which will be paid on Friday, January 27th. Investors of record on Friday, December 30th will be issued a dividend of $0.145 per share. This represents a yield of 11.24%. The ex-dividend date of this dividend is Thursday, December 29th.
Institutional Investors Weigh In On The European Equity Fund
Institutional investors have recently bought and sold shares of the company. Royal Bank of Canada increased its stake in shares of The European Equity Fund by 25.0% during the first quarter. Royal Bank of Canada now owns 13,904 shares of the financial services provider's stock worth $127,000 after purchasing an additional 2,778 shares in the last quarter. City of London Investment Management Co. Ltd. purchased a new position in shares of The European Equity Fund in the 1st quarter valued at $129,000. Uncommon Cents Investing LLC boosted its stake in The European Equity Fund by 6.5% during the 2nd quarter. Uncommon Cents Investing LLC now owns 254,958 shares of the financial services provider's stock worth $1,820,000 after purchasing an additional 15,540 shares during the period. Shaker Financial Services LLC lifted its stake in shares of The European Equity Fund by 1.5% in the 2nd quarter. Shaker Financial Services LLC now owns 259,156 shares of the financial services provider's stock worth $1,850,000 after acquiring an additional 3,925 shares during the period. Finally, 1607 Capital Partners LLC increased its holdings in shares of The European Equity Fund by 0.5% in the 1st quarter. 1607 Capital Partners LLC now owns 1,884,510 shares of the financial services provider's stock valued at $17,281,000 after purchasing an additional 9,400 shares in the last quarter. 50.16% of the stock is currently owned by institutional investors and hedge funds.
The European Equity Fund Company Profile
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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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