The most recent statement that the company has filed with the Securities and Exchange Commission indicates that Allspring Global Investments Holdings LLC decreased the percentage of ownership in The European Equity Fund, Inc. (NYSE: EEA) that it held during the third quarter. Following the sale of 12,300 shares throughout the period in question, the total number of shares of stock in the financial services provider that the fund owned increased to 630,348. Allspring Global Investments Holdings LLC had an 8.91% stake in The European Equity Fund at the end of the most recent reporting period, which was estimated to be worth $3,914,000.
In addition, the positions that the company’s other institutional investors hold have been subjected to alterations. The Royal Bank of Canada increased the amount of money it has invested in the European Equity Fund by a quarter of a percentage point during the first three months of this year. After making an additional purchase of 2,778 shares during the most recent quarter, Royal Bank of Canada now has 13,904 shares, with a market cap of $127,000. This brings the bank’s total number of shares held in the company to 13,904. The City of London Investment Management Co. Ltd. has a portfolio that includes the European Equity Fund. During the first three months of 2018, approximately 129,000 dollars were invested in this fund as part of their portfolio. During the second quarter, Uncommon Cents Investing LLC completed a 6.5% increase in the proportion of its holdings allocated to The European Equity Fund. Uncommon Cents Investing LLC now has a total of 254,958 shares of stock in the financial services company after purchasing an additional 15,540 shares during the most recent quarter, bringing the company’s total number of shares owned to a total of 254,958. The value of these shares on the market as of right now is $1,820,000. During the second quarter, Shaker Financial Services LLC increased its holdings in the European Equity Fund by 1.5%. This investment update comes last but is certainly not the least important. After making additional purchases during the most recent quarter, Shaker Financial Services LLC now owns 259,156 shares in the financial services provider, estimated to be worth $1,850,000. Shaker Financial Services LLC bought 3,925 additional shares during the most recent quarter. Institutional investors own 50.16% of the company’s stock.
On Wednesday, the NYSE EEA started the trading day with an opening price of $8.21. The European Equity Fund, Inc. hit a low point over the past 52 weeks of $6.06, while the company reached a high point over the past 52 weeks of $10.75. The company’s price has a moving average for the past 50 days of $7.81 and the price for the past 200 days of $7.30.
Additionally, the company has recently disclosed that it will be implementing a semi-annual dividend scheduled to be paid out on January 27. On Friday, December 30, 2018, shareholders who had complete records as of the previous business day will be eligible to receive the dividend payment of $0.145. 11.24% is the return on investment that can be expected from this. The dividend will be withheld from shareholder accounts on Thursday, December 29.
The European Equity Fund, Inc. is a mutual fund specializing in closed-end equity investments. Deutsche Investment Management Americas Inc. was responsible for establishing this mutual fund. Deutsche Asset Management International GmbH, a German financial services company, manages the fund. It accomplishes this goal by investing in the public equity markets of the countries that make up Europe. To achieve its investment objectives, the fund intends to invest in the common stock of companies active in various market sectors.
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