Short Interest in The European Equity Fund, Inc. (NYSE:EEA) Declines By 34.8%

The European Equity Fund, Inc. (NYSE:EEA) was the recipient of a significant decline in short interest in May. As of May 31st, there was short interest totalling 5,800 shares, a decline of 34.8% from the May 15th total of 8,900 shares. Approximately 0.1% of the shares of the stock are short sold. Based on an average trading volume of 22,700 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Investors Weigh In On The European Equity Fund

Several large investors have recently made changes to their positions in the company. Shaker Financial Services LLC grew its stake in shares of The European Equity Fund by 30.2% in the 1st quarter. Shaker Financial Services LLC now owns 392,572 shares of the financial services provider’s stock valued at $3,572,000 after buying an additional 91,113 shares in the last quarter. Matisse Capital grew its stake in shares of The European Equity Fund by 132.5% in the 1st quarter. Matisse Capital now owns 188,070 shares of the financial services provider’s stock valued at $1,711,000 after buying an additional 107,172 shares in the last quarter. Almitas Capital LLC boosted its position in The European Equity Fund by 297.7% during the first quarter. Almitas Capital LLC now owns 63,976 shares of the financial services provider’s stock worth $582,000 after purchasing an additional 47,889 shares during the period. Wolverine Asset Management LLC boosted its position in The European Equity Fund by 23.5% during the first quarter. Wolverine Asset Management LLC now owns 59,898 shares of the financial services provider’s stock worth $545,000 after purchasing an additional 11,386 shares during the period. Finally, Bank of America Corp DE boosted its position in The European Equity Fund by 5,436.4% during the fourth 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 during the period. Institutional investors own 51.94% of the company’s stock.

The European Equity Fund Stock Performance

NYSE EEA opened at $9.91 on Thursday. The stock’s 50-day moving average price is $9.61 and its two-hundred day moving average price is $9.04. The European Equity Fund has a 1 year low of $8.05 and a 1 year high of $10.18.

The European Equity Fund Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Friday, June 6th. Shareholders of record on Tuesday, May 27th were paid a dividend of $0.0297 per share. The ex-dividend date was Tuesday, May 27th. This represents a yield of 1.8%.

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.