The European Equity Fund, Inc. (NYSE:EEA) Sees Significant Decrease in Short Interest

The European Equity Fund, Inc. (NYSE:EEA) saw a large drop in short interest during the month of February. As of February 28th, there was short interest totalling 3,000 shares, a drop of 67.0% from the February 13th total of 9,100 shares. Based on an average daily volume of 25,100 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.0% of the company’s shares are sold short.

The European Equity Fund Stock Down 0.8 %

NYSE:EEA traded down $0.08 during trading hours on Thursday, hitting $9.04. The stock had a trading volume of 20,036 shares, compared to its average volume of 25,788. The European Equity Fund has a 1-year low of $8.05 and a 1-year high of $9.48. The business has a 50 day simple moving average of $8.73 and a two-hundred day simple moving average of $8.81.

The European Equity Fund Increases Dividend

The firm also recently announced a semi-annual dividend, which was paid on Friday, January 31st. Shareholders of record on Monday, December 30th were paid a dividend of $0.141 per share. This is a positive change from The European Equity Fund’s previous semi-annual dividend of $0.04. The ex-dividend date was Monday, December 30th. This represents a yield of 2.1%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Bank of America Corp DE increased its stake in The European Equity Fund by 5,436.4% in the 4th quarter. Bank of America Corp DE now owns 21,149 shares of the financial services provider’s stock worth $172,000 after purchasing an additional 20,767 shares in the last quarter. Matisse Capital grew its stake in The European Equity Fund by 30.9% in the 4th quarter. Matisse Capital now owns 80,898 shares of the financial services provider’s stock valued at $659,000 after buying an additional 19,089 shares during the last quarter. Almitas Capital LLC bought a new stake in shares of The European Equity Fund in the fourth quarter valued at approximately $131,000. Finally, Wolverine Asset Management LLC lifted its stake in shares of The European Equity Fund by 25.4% in the third quarter. Wolverine Asset Management LLC now owns 41,053 shares of the financial services provider’s stock valued at $385,000 after buying an additional 8,320 shares during the period. Institutional investors own 51.94% of the company’s stock.

About The European Equity Fund

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.