The European Equity Fund, Inc. (NYSE:EEA) Sees Large Growth in Short Interest

The European Equity Fund, Inc. (NYSE:EEA) was the target of a large growth in short interest in the month of June. As of June 15th, there was short interest totalling 5,100 shares, a growth of 466.7% from the May 31st total of 900 shares. Based on an average daily volume of 9,700 shares, the days-to-cover ratio is currently 0.5 days.

The European Equity Fund Stock Performance

EEA traded down $0.04 during trading on Thursday, hitting $8.99. The stock had a trading volume of 3,829 shares, compared to its average volume of 9,588. The company has a 50 day moving average price of $9.00 and a 200-day moving average price of $8.79. The European Equity Fund has a one year low of $7.45 and a one year high of $9.40.

The European Equity Fund Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Tuesday, June 4th. Stockholders of record on Friday, May 24th were issued a dividend of $0.0376 per share. The ex-dividend date was Thursday, May 23rd. This represents a dividend yield of 1.9%.

Hedge Funds Weigh In On The European Equity Fund

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Uncommon Cents Investing LLC grew its stake in The European Equity Fund by 5.8% in the fourth quarter. Uncommon Cents Investing LLC now owns 300,313 shares of the financial services provider’s stock valued at $2,595,000 after acquiring an additional 16,505 shares during the period. Wolverine Asset Management LLC increased its position in The European Equity Fund by 8.5% in the fourth quarter. Wolverine Asset Management LLC now owns 16,789 shares of the financial services provider’s stock worth $145,000 after buying an additional 1,315 shares during the last quarter. Shaker Financial Services LLC grew its position in shares of The European Equity Fund by 5.9% in the fourth quarter. Shaker Financial Services LLC now owns 326,171 shares of the financial services provider’s stock valued at $2,863,000 after purchasing an additional 18,188 shares in the last quarter. Matisse Capital purchased a new position in The European Equity Fund during the first quarter worth about $330,000. Finally, Lazard Asset Management LLC grew its position in The European Equity Fund by 1.6% during the first quarter. Lazard Asset Management LLC now owns 192,009 shares of the financial services provider’s stock worth $1,710,000 after buying an additional 3,098 shares in the last quarter. Institutional investors and hedge funds 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.