What’s First Trust Enhanced Equity Income Fund (FFA) Downside After Forming Double Bottom Chart Pattern?

July 16, 2018 - By Matthew Richard

Investors sentiment decreased to 0.72 in Q1 2018. Its down 0.17, from 0.89 in 2017Q4. It worsened, as 5 investors sold First Trust Enhanced Equity Income Fund shares while 13 reduced holdings. 7 funds opened positions while 6 raised stakes. 4.89 million shares or 0.48% less from 4.92 million shares in 2017Q4 were reported.
Stratos Wealth Prtn invested in 850 shares or 0% of the stock. Raymond James Assocs holds 512,754 shares. Ameriprise stated it has 0% of its portfolio in First Trust Enhanced Equity Income Fund (NYSE:FFA). Guggenheim Ltd Liability Corporation accumulated 0.01% or 251,382 shares. The Illinois-based Rmb Capital Mgmt Limited Company has invested 0.01% in First Trust Enhanced Equity Income Fund (NYSE:FFA). Service owns 510 shares. Royal Bancshares Of Canada owns 150,187 shares or 0% of their US portfolio. Regions Fincl Corporation holds 700 shares. 1,000 are held by Us Bank De. 1.07M were accumulated by Morgan Stanley. First Interstate Bankshares accumulated 3,470 shares or 0.01% of the stock. Comml Bank Of Montreal Can owns 17,008 shares. Wolverine Asset Mgmt Llc invested 0% of its portfolio in First Trust Enhanced Equity Income Fund (NYSE:FFA). Shaker Financial Ltd reported 138,053 shares. Invesco has 0% invested in First Trust Enhanced Equity Income Fund (NYSE:FFA) for 529,167 shares.

The chart of First Trust Enhanced Equity Income Fund (FFA) shows a double bottom with $15.20 target or 5.00 % below today’s $16.00 share price. The 7 months chart pattern indicates high risk for the $319.58M company. It was reported on Jul, 16 by Finviz.com. If the $15.20 price target is reached, the company will be worth $15.98M less. Double bottoms are rare but powerful chart patterns.

The stock increased 0.07% or $0.0104 during the last trading session, reaching $16.0004. About 10,974 shares traded. First Trust Enhanced Equity Income Fund (NYSE:FFA) has risen 4.12% since July 16, 2017 and is uptrending. It has underperformed by 8.45% the S&P500.

Another recent and important First Trust Enhanced Equity Income Fund (NYSE:FFA) news was published by Businesswire.com which published an article titled: “First Trust Enhanced Equity Income Fund Issues Notice Regarding June 2018 Distribution” on June 29, 2018.

First Trust Enhanced Equity Income Fund is a closed-ended equity mutual fund launched and managed by First Trust Advisors L.P. The company has market cap of $319.58 million. The fund is co-managed by Chartwell Investment Partners, L.P. It has a 6.69 P/E ratio. It invests in public equity markets of the United States.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.