The European Equity Fund (NYSE:EEA) Stock Price Down 0.5% – Should You Sell?

Shares of The European Equity Fund, Inc. (NYSE:EEA) were down 0.5% on Thursday . The stock traded as low as $8.22 and last traded at $8.25. Approximately 9,128 shares changed 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 Trading Down 0.6 %

The business has a fifty day moving average of $8.49 and a 200-day moving average of $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 paid a $0.141 dividend. The ex-dividend date of this dividend is Monday, December 30th. This represents a dividend yield of 2.1%. This is a boost from The European Equity Fund’s previous semi-annual dividend of $0.04.

Institutional Trading of The European Equity Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Shaker Financial Services LLC raised its holdings in 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 holdings in shares of The European Equity Fund by 25.4% in the third quarter. Wolverine Asset Management LLC now owns 41,053 shares of the financial services provider’s stock worth $385,000 after buying an additional 8,320 shares during the period. Finally, Logan Stone Capital LLC purchased a new position in shares of The European Equity Fund in the second quarter worth approximately $117,000. 51.94% of the stock is owned by institutional investors and hedge funds.

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.