Central and Eastern Europe Fund (NYSE:CEE) Downgraded to “Market Perform” at BMO Capital Markets

BMO Capital Markets downgraded shares of Central and Eastern Europe Fund (NYSE:CEE) to a market perform rating in a research report sent to investors on Monday morning, Stock Target Advisor reports.

Shares of NYSE CEE traded up $0.56 during trading on Monday, reaching $22.20. The company had a trading volume of 6,200 shares, compared to its average volume of 7,287. Central and Eastern Europe Fund has a 52 week low of $12.68 and a 52 week high of $29.47. The business’s 50 day moving average price is $21.52 and its 200-day moving average price is $21.50.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE raised its stake in shares of Central and Eastern Europe Fund by 57.3% during the fourth quarter. Bank of America Corp DE now owns 3,559 shares of the closed-end fund’s stock worth $101,000 after buying an additional 1,297 shares during the last quarter. Legato Capital Management LLC raised its stake in shares of Central and Eastern Europe Fund by 5.3% during the first quarter. Legato Capital Management LLC now owns 28,698 shares of the closed-end fund’s stock worth $503,000 after buying an additional 1,437 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Central and Eastern Europe Fund by 0.9% during the first quarter. Wells Fargo & Company MN now owns 650,339 shares of the closed-end fund’s stock worth $11,408,000 after buying an additional 5,488 shares during the last quarter. Gabelli Funds LLC raised its stake in shares of Central and Eastern Europe Fund by 5.3% during the first quarter. Gabelli Funds LLC now owns 153,812 shares of the closed-end fund’s stock worth $2,698,000 after buying an additional 7,706 shares during the last quarter. Finally, City of London Investment Management Co. Ltd. raised its stake in shares of Central and Eastern Europe Fund by 0.9% during the first quarter. City of London Investment Management Co. Ltd. now owns 1,587,087 shares of the closed-end fund’s stock worth $28,028,000 after buying an additional 13,545 shares during the last quarter. 46.86% of the stock is owned by institutional investors and hedge funds.

Central and Eastern Europe Fund Company Profile

The Central and Eastern Europe 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 across Central and Eastern Europe. The fund seeks to invest in stocks of companies operating across diversified sectors.

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