Profile
Sector:
Financial ServicesIndustry:
Asset ManagementCountry:
United StatesIPO:
27 August 2004Website:
http://www.ftportfolios.comNext earnings report:
N/ALast dividends:
21 June 2024Next dividends:
N/APrice
regular market | Mon, 01 Jul 2024 20:00:02 GMTAnalysts recommendations
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FFA Latest News
WHEATON, Ill.--(BUSINESS WIRE)--First Trust Enhanced Equity Income Fund (the "Fund") (NYSE: FFA) has increased its regularly scheduled quarterly distribution to $0.35 per share from $0.315 per share. The distribution will be payable on June 28, 2024, to shareholders of record as of June 21, 2024. The ex-dividend date is expected to be June 21, 2024. The quarterly distribution information for the Fund appears below. First Trust Enhanced Equity Income Fund (FFA): Distribution per share: $0.35 Dis.
The First Trust Enhanced Equity Income Fund is a closed-end fund that uses covered calls to increase income. FFA has a diversified portfolio that emphasizes value stocks and has a higher allocation to the technology sector. While short-term results have been varied, FFA has consistently outperformed its benchmark and peers in the long term.
Equities have rallied into 2024, surpassing year-end forecasts and creating a bullish sentiment among retail investors. The First Trust Enhanced Equity Income Fund is a buy-write fund that closely tracks the S&P 500 and offers a discount to NAV. FFA has a dynamic options overlay strategy and a low proportion of its portfolio overwritten with calls, making it an attractive alternative to buying the S&P 500 outright.
The First Trust Enhanced Equity Income Fund employs a covered call-writing strategy to generate income from its portfolio without sacrificing upside potential. The fund's current yield of 7.01% is lower than some of its peers, but it is not as overwritten as all of them. The fund has outperformed the S&P 500 Index over the past three years, but its performance is expected to be stronger in bear or flat markets.
First Trust Enhanced Equity Income Fund utilizes a call-writing strategy and has seen its discount narrow since our last update. FFA has delivered solid results and outperformed other call-writing funds, thanks, at least in part, to its partial overwrite strategy. FFA offers a solid distribution yield of 6.89% and has a relatively moderate turnover rate and a tech-heavy portfolio.
What type of business is First Trust Enhanced Equity Income Fund?
First Trust Enhanced Equity Income Fund is a closed-ended equity mutual fund launched and managed by First Trust Advisors L.P. The fund is co-managed by Chartwell Investment Partners, L.P. It invests in public equity markets of the United States. The fund seeks to invest in stocks of companies operating across the diversified sectors. It invests in stocks of companies across diversified market capitalizations. The fund also writes covered call options. It benchmarks the performance of its portfolio against the S&P 500 Index. The fund was formerly known as First Trust/Fiduciary Asset Management Covered Call Fund. First Trust Enhanced Equity Income Fund was formed on August 26, 2004 and is domiciled in the United States.
What sector is First Trust Enhanced Equity Income Fund in?
First Trust Enhanced Equity Income Fund is in the Financial Services sector
What industry is First Trust Enhanced Equity Income Fund in?
First Trust Enhanced Equity Income Fund is in the Asset Management industry
What country is First Trust Enhanced Equity Income Fund from?
First Trust Enhanced Equity Income Fund is headquartered in United States
When did First Trust Enhanced Equity Income Fund go public?
First Trust Enhanced Equity Income Fund initial public offering (IPO) was on 27 August 2004
What is First Trust Enhanced Equity Income Fund website?
https://www.ftportfolios.com/Retail/cef/cefsummary.aspx?Ticker=FFA
Is First Trust Enhanced Equity Income Fund in the S&P 500?
No, First Trust Enhanced Equity Income Fund is not included in the S&P 500 index
Is First Trust Enhanced Equity Income Fund in the NASDAQ 100?
No, First Trust Enhanced Equity Income Fund is not included in the NASDAQ 100 index
Is First Trust Enhanced Equity Income Fund in the Dow Jones?
No, First Trust Enhanced Equity Income Fund is not included in the Dow Jones index
When does First Trust Enhanced Equity Income Fund report earnings?
Next earnings report date is not announced yet