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

The European Equity Fund, Inc. (NYSE:EEA) shares passed 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.

The European Equity Fund Price Performance

The company’s 50-day moving average is $9.14 and its 200-day moving average is $9.05.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC raised its stake 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 purchasing an additional 13,335 shares during the period. Logan Stone Capital LLC purchased a new stake in shares of The European Equity Fund during the second quarter valued at approximately $117,000. Shaker Financial Services LLC increased its stake in shares of The European Equity Fund by 4.0% in the second quarter. Shaker Financial Services LLC now owns 375,603 shares of the financial services provider’s stock worth $3,374,000 after buying an additional 14,576 shares during the last quarter. Lazard Asset Management LLC increased its stake in shares of 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 buying an additional 3,098 shares during the last quarter. Finally, Wolverine Asset Management LLC increased its stake in shares of 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 buying an additional 11,723 shares during the last quarter. 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.