The European Equity Fund (NYSE:EEA) Trading Down 1.1% – Here’s What Happened
by Sarita Garza · The Markets DailyThe European Equity Fund, Inc. (NYSE:EEA – Get Free Report)’s share price dropped 1.1% during mid-day trading on Wednesday . The stock traded as low as $10.88 and last traded at $10.8750. Approximately 21,169 shares traded hands during mid-day trading, a decline of 18% from the average daily volume of 25,922 shares. The stock had previously closed at $11.00.
The European Equity Fund Stock Down 1.1%
The stock has a fifty day moving average of $10.68 and a 200-day moving average of $10.64.
The European Equity Fund Dividend Announcement
The business also recently disclosed a dividend, which will be paid on Friday, January 30th. Stockholders of record on Tuesday, December 30th will be given a dividend of $0.165 per share. The ex-dividend date of this dividend is Tuesday, December 30th. This represents a dividend yield of 1,462.0%.
Institutional Investors Weigh In On The European Equity Fund
Institutional investors and hedge funds have recently modified their holdings of the company. Allspring Global Investments Holdings LLC grew its holdings in The European Equity Fund by 4.6% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 694,622 shares of the financial services provider’s stock worth $7,106,000 after acquiring an additional 30,826 shares during the last quarter. Shaker Financial Services LLC boosted its holdings in The European Equity Fund by 13.9% in the second quarter. Shaker Financial Services LLC now owns 447,331 shares of the financial services provider’s stock valued at $4,576,000 after acquiring an additional 54,759 shares during the last quarter. Blue Bell Private Wealth Management LLC raised its holdings in The European Equity Fund by 33.4% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 22,914 shares of the financial services provider’s stock worth $248,000 after purchasing an additional 5,739 shares during the last quarter. Citadel Advisors LLC acquired a new position in The European Equity Fund in the third quarter valued at $158,000. Finally, Spirepoint Private Client LLC bought a new stake in The European Equity Fund in the fourth quarter worth approximately $117,000. 51.94% of the stock is owned by institutional investors.
The European Equity Fund Company Profile
The European Equity Fund, Inc (NYSE: EEA) is a closed-end management investment company that seeks long-term capital appreciation by investing primarily in the equity securities of issuers located in European countries. Listed on the New York Stock Exchange, the Fund offers U.S. and international investors access to a diversified portfolio of publicly traded European companies, spanning a variety of industries and market capitalizations.
The Fund’s investment strategy is built on fundamental, bottom-up research and active portfolio management.