The European Equity Fund (NYSE:EEA) Shares Down 0.5% – Here’s What Happened

Shares of The European Equity Fund, Inc. (NYSE:EEA) were down 0.5% on Thursday . The company traded as low as $8.22 and last traded at $8.25. Approximately 9,128 shares traded hands during trading, a decline of 60% from the average daily volume of 22,866 shares. The stock had previously closed at $8.29.

The European Equity Fund Stock Performance

The firm has a 50 day moving average of $8.50 and a 200-day moving average of $8.88.

The European Equity Fund Increases Dividend

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

Institutional Trading of The European Equity Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EEA. Shaker Financial Services LLC lifted its position in shares of The European Equity Fund by 1.0% during the 3rd quarter. Shaker Financial Services LLC now owns 379,304 shares of the financial services provider’s stock worth $3,558,000 after buying an additional 3,701 shares during the period. Wolverine Asset Management LLC boosted its stake in shares of The European Equity Fund by 25.4% in the 3rd quarter. Wolverine Asset Management LLC now owns 41,053 shares of the financial services provider’s stock valued at $385,000 after purchasing an additional 8,320 shares in the last quarter. Finally, Logan Stone Capital LLC bought a new stake in shares of The European Equity Fund in the 2nd quarter worth about $117,000. Institutional investors own 51.94% of the company’s stock.

The European Equity Fund Company Profile

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.