The European Equity Fund, Inc. (NYSE:EEA – Get Rating) was the target of a significant increase in short interest in February. As of February 15th, there was short interest totalling 6,800 shares, an increase of 25.9% from the January 31st total of 5,400 shares. Based on an average trading volume of 7,300 shares, the days-to-cover ratio is presently 0.9 days.
Hedge Funds Weigh In On The European Equity Fund
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its position in The European Equity Fund by 13.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 712,033 shares of the financial services provider's stock worth $5,340,000 after buying an additional 81,685 shares in the last quarter. Uncommon Cents Investing LLC lifted its position in The European Equity Fund by 3.6% during the fourth quarter. Uncommon Cents Investing LLC now owns 264,658 shares of the financial services provider's stock worth $1,986,000 after buying an additional 9,100 shares in the last quarter. CSS LLC IL lifted its position in The European Equity Fund by 27.0% during the fourth quarter. CSS LLC IL now owns 44,307 shares of the financial services provider's stock worth $332,000 after buying an additional 9,414 shares in the last quarter. City of London Investment Management Co. Ltd. lifted its position in The European Equity Fund by 36.4% during the fourth quarter. City of London Investment Management Co. Ltd. now owns 19,364 shares of the financial services provider's stock worth $146,000 after buying an additional 5,164 shares in the last quarter. Finally, Royal Bank of Canada lifted its position in 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 buying an additional 2,778 shares in the last quarter. Hedge funds and other institutional investors own 50.16% of the company's stock.
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The European Equity Fund Stock Performance
NYSE EEA opened at $8.41 on Friday. The stock's 50 day simple moving average is $8.26 and its 200-day simple moving average is $7.55. The European Equity Fund has a 1-year low of $6.06 and a 1-year high of $9.28.
The European Equity Fund Dividend Announcement
The company also recently announced a Semi-Annual dividend, which was paid on Friday, January 27th. Stockholders of record on Friday, December 30th were given a $0.145 dividend. The ex-dividend date was Thursday, December 29th. This represents a dividend yield of 11.24%.
About The European Equity Fund
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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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