The European Equity Fund (NYSE:EEA) Stock Crosses Below Fifty Day Moving Average – Here’s Why

The European Equity Fund, Inc. (NYSE:EEA)’s share price crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $9.15 and traded as low as $8.73. The European Equity Fund shares last traded at $8.83, with a volume of 875 shares traded.

The European Equity Fund Stock Up 0.1 %

The business’s fifty day simple moving average is $9.14 and its 200 day simple moving average is $9.05.

Hedge Funds Weigh In On The European Equity Fund

Several hedge funds and other institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its holdings in shares of The European Equity Fund by 2.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 696,458 shares of the financial services provider’s stock valued at $6,255,000 after acquiring an additional 13,335 shares during the period. Shaker Financial Services LLC lifted its holdings in The European Equity Fund by 1.0% in 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 during the period. Lazard Asset Management LLC lifted its holdings in The European Equity Fund by 1.6% in the first quarter. Lazard Asset Management LLC now owns 192,009 shares of the financial services provider’s stock worth $1,710,000 after purchasing an additional 3,098 shares during the period. Wolverine Asset Management LLC lifted its holdings in The European Equity Fund by 55.8% in the second quarter. Wolverine Asset Management LLC now owns 32,733 shares of the financial services provider’s stock worth $294,000 after purchasing an additional 11,723 shares during the period. Finally, Logan Stone Capital LLC acquired a new stake in The European Equity Fund in the second quarter worth about $117,000. 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.