Traders are more bearish on shares of European Equity Fund of late as inferred by the change in short interest. The company saw a rise in short interest of 37.05% as of October 31, 2017 from the last reporting period. Short shares increased from 15,768 to 21,610 over that period. The short-interest ratio decreased to 1.0 and the percentage of shorted shares is 0.00% as of October 31.
Here are a few substantial investment firms who have updated their positions. As of quarter end Shaker Financial Services, LLC had disposed of a total of 10,115 shares trimming its holdings by 3.7%. The value of the investment in European Equity Fund went from $2,536,000 to $2,579,000 a change of 1.7% quarter over quarter. Wells Fargo & Company/mn reduced its investment by selling 250 shares a decrease of 2.7%. Wells Fargo & Company/mn owns 8,906 shares valued at $86,000. The value of the position overall is up by 2.4%.
As of the end of the quarter City Of London Investment Management Co Ltd had bought 41,817 shares growing its position 147.3%. The value in dollars increased from $261,000 to $678,000 increasing 159.8% quarter to quarter. Raymond James & Associates augmented its holdings by buying 12,836 shares an increase of 60.1% from 06/30/2017 to 09/30/2017. Raymond James & Associates now controls 34,177 shares worth $331,000. The total value of its holdings increased 68.9%.
The company is now down by 1.45% percent from yesterday’s close. The company currently has a P/E ratio of N/A and the market value is 76.61M.
The European Equity Fund, Inc. (the Fund), launched on April 8, 1986, is a non-diversified, actively managed closed-end fund. The Fund seeks long term capital appreciation through investment primarily (normally at least 80% of its assets) in equity and equity linked securities of companies domiciled in countries utilizing the Euro currency. The Fund may also invest up to 20% of its assets in securities of issuers domiciled in European countries that do not use the Euro currency. Its benchmark is the MSCI-EMU Index, which is an unmanaged capitalization-weighted index..