The European Equity Fund (NYSE:EEA) Trading Down 0.5% – What’s Next?

The European Equity Fund, Inc. (NYSE:EEA)’s stock price traded down 0.5% on Thursday . The stock traded as low as $8.22 and last traded at $8.25. 9,128 shares were traded during mid-day trading, a decline of 60% from the average session volume of 22,866 shares. The stock had previously closed at $8.29.

The European Equity Fund Stock Performance

The business’s 50 day simple moving average is $8.49 and its 200-day simple moving average is $8.88.

The European Equity Fund Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, December 30th will be given a dividend of $0.141 per share. The ex-dividend date is Monday, December 30th. This is an increase from The European Equity Fund’s previous semi-annual dividend of $0.04. This represents a dividend yield of 2.1%.

Institutional Investors Weigh In On The European Equity Fund

A number of hedge funds and other institutional investors have recently modified their holdings of EEA. Logan Stone Capital LLC bought a new stake in shares of The European Equity Fund during the 2nd quarter worth about $117,000. Wolverine Asset Management LLC increased its stake in shares of The European Equity Fund by 25.4% during the third quarter. Wolverine Asset Management LLC now owns 41,053 shares of the financial services provider’s stock valued at $385,000 after acquiring an additional 8,320 shares during the period. Finally, Shaker Financial Services LLC raised its holdings in The European Equity Fund by 1.0% during the third quarter. Shaker Financial Services LLC now owns 379,304 shares of the financial services provider’s stock worth $3,558,000 after purchasing an additional 3,701 shares in the last quarter. 51.94% of the stock is currently owned by institutional investors.

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.