Short Interest in The European Equity Fund, Inc. (NYSE:EEA) Drops By 67.0%

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

The European Equity Fund Price Performance

NYSE EEA traded up $0.07 on Friday, reaching $9.10. The company had a trading volume of 41,582 shares, compared to its average volume of 26,132. The European Equity Fund has a 1-year low of $8.05 and a 1-year high of $9.48. The company’s fifty day moving average is $8.77 and its 200-day moving average is $8.82.

The European Equity Fund Increases Dividend

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

Hedge Funds Weigh In On The European Equity Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wolverine Asset Management LLC boosted its stake in shares of The European Equity Fund by 18.2% during the 4th quarter. Wolverine Asset Management LLC now owns 48,512 shares of the financial services provider’s stock worth $395,000 after buying an additional 7,459 shares during the last quarter. Almitas Capital LLC acquired a new position in shares of The European Equity Fund during the 4th quarter worth about $131,000. Matisse Capital boosted its stake in shares of The European Equity Fund by 30.9% during the 4th quarter. Matisse Capital now owns 80,898 shares of the financial services provider’s stock worth $659,000 after buying an additional 19,089 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of The European Equity Fund by 5,436.4% during the 4th quarter. Bank of America Corp DE now owns 21,149 shares of the financial services provider’s stock worth $172,000 after buying an additional 20,767 shares during the last quarter. 51.94% of the stock is owned by institutional investors and hedge funds.

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.