November 17, 2016 - By Marguerite Chambers · 0 Comments
European Equity Fund Inc (NYSE:EEA) institutional sentiment decreased to 0.8 in Q2 2016. Its down -0.49, from 1.29 in 2016Q1. The ratio is negative, as 8 hedge funds started new or increased positions, while 10 decreased and sold their positions in European Equity Fund Inc. The hedge funds in our partner’s database reported: 3.41 million shares, down from 3.42 million shares in 2016Q1. Also, the number of hedge funds holding European Equity Fund Inc in their top 10 positions was flat from 0 to 0 for the same number . Sold All: 2 Reduced: 8 Increased: 6 New Position: 2.
The European Equity Fund, Inc. is a diversified, closed-end management investment fund. The company has a market cap of $59.47 million. The Fund’s objective is to seek long-term capital appreciation through investment primarily in equity and equity-linked securities of companies domiciled in countries utilizing the euro currency. It currently has negative earnings. The Fund invests in a range of sectors, including information technology, financials, healthcare, consumer discretionary, industrials, consumer staples, materials, energy, utilities and telecommunication services.
It is down 8.79% since April 15, 2016 and is downtrending. It has underperformed by 13.42% the S&P500.
Shaker Financial Services Llc holds 1.31% of its portfolio in European Equity Fund Inc. for 242,984 shares. 1607 Capital Partners Llc owns 1.30 million shares or 0.69% of their US portfolio. Moreover, Gramercy Funds Management Llc has 0.6% invested in the company for 183,623 shares. The New York-based Karpus Management Inc. has invested 0.24% in the stock. Blue Bell Private Wealth Management Llc, a Pennsylvania-based fund reported 38,731 shares.#img1#
The European Equity Fund, Inc. (the Fund), incorporated 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. The Company’s benchmark is the MSCI-EMU Index, which is an unmanaged capitalization-weighted index.
More news for European Equity Fund Inc. (NYSE:EEA) were recently published by: Businesswire.com, which released: “The Central Europe, Russia and Turkey Fund, Inc., The European Equity Fund …” on October 21, 2016. Businessinsider.com‘s article titled: “UPDATE 1-European equity fund outflows approach $100 bln – BAML” and published on October 14, 2016 is yet another important article.
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By Marguerite Chambers