The European Equity Fund, Inc. (NYSE:EEA – Get Rating) was the target of a large growth in short interest in January. As of January 31st, there was short interest totalling 5,400 shares, a growth of 31.7% from the January 15th total of 4,100 shares. Based on an average daily trading volume, of 8,400 shares, the days-to-cover ratio is presently 0.6 days.
Institutional Investors Weigh In On The European Equity Fund
Several hedge funds have recently modified their holdings of EEA. Allspring Global Investments Holdings LLC lifted its holdings 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 during the period. Uncommon Cents Investing LLC boosted 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 valued at $1,986,000 after purchasing an additional 9,100 shares in the last quarter. Shaker Financial Services LLC boosted its position in The European Equity Fund by 1.5% during the second quarter. Shaker Financial Services LLC now owns 259,156 shares of the financial services provider's stock valued at $1,850,000 after purchasing an additional 3,925 shares in the last quarter. City of London Investment Management Co. Ltd. grew its stake in The European Equity Fund by 36.4% in the fourth quarter. City of London Investment Management Co. Ltd. now owns 19,364 shares of the financial services provider's stock valued at $146,000 after purchasing an additional 5,164 shares during the last quarter. Finally, Royal Bank of Canada raised its holdings in The European Equity Fund by 25.0% in 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. Hedge funds and other institutional investors own 50.16% of the company's stock.
Get The European Equity Fund alerts:The European Equity Fund Stock Performance
Shares of The European Equity Fund stock traded down $0.04 during trading on Monday, hitting $8.46. 8,366 shares of the stock traded hands, compared to its average volume of 6,937. The stock's fifty day simple moving average is $8.10 and its 200 day simple moving average is $7.46. The European Equity Fund has a 52-week low of $6.06 and a 52-week high of $9.89.
The European Equity Fund Dividend Announcement
The firm also recently declared a Semi-Annual dividend, which was paid on Friday, January 27th. Stockholders of record on Friday, December 30th were issued 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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