The Central and Eastern Europe Fund, Inc. (NYSE:CEE) sees a significant increase in short-term interest
The Central and Eastern Europe Fund, Inc. (NYSE: CEE – Get a rating) benefited from strong growth in short-term interest during the month of February. As of February 28, there were short interests totaling 19,900 shares, a growth of 201.5% from the total of 6,600 shares as of February 13. Based on an average daily volume of 31,700 shares, the day-to-cover ratio is currently 0.6 days.
NYSE:CEE traded down $0.12 on Friday, hitting $7.37. 600 shares were traded, against an average volume of 45,583. The Central and Eastern European Fund has a 52-week low of $7.15 and a 52-week high of $31.46. The company’s 50-day moving average price is $21.44 and its 200-day moving average price is $25.86.
The company also recently declared an annual dividend, which was paid on Friday, January 28. Shareholders of record on Thursday, December 30 received a dividend of $0.9531. The ex-dividend date was Wednesday, December 29. This is a boost from the Central and Eastern Europe Fund’s previous $0.92 annual dividend. This represents a dividend yield of 3.5%.
Several hedge funds have recently changed their positions in the CEECs. Bank of America Corp DE increased its equity stake in the Central and Eastern Europe Fund by 56.9% in Q2. Bank of America Corp DE now owns 6,339 shares of the closed-end fund valued at $178,000 after acquiring 2,298 additional shares in the last quarter. Morgan Stanley increased its position in The Central and Eastern Europe Fund by 7.3% during the second quarter. Morgan Stanley now owns 12,607 shares of the closed-end fund worth $354,000 after acquiring 855 additional shares in the last quarter. Shaker Financial Services LLC acquired a new position in The Central and Eastern Europe Fund during Q4 worth approximately $400,000. Bulldog Investors LLP acquired a new position in The Central and Eastern Europe Fund during Q3 worth approximately $432,000. Finally, Wolverine Asset Management LLC strengthened its position in The Central and Eastern Europe Fund by 21.3% during the 3rd quarter. Wolverine Asset Management LLC now owns 23,498 shares of the closed-end fund worth $678,000 after acquiring 4,128 additional shares in the last quarter. 49.35% of the shares are held by institutional investors.
Company Profile The Central and Eastern Europe Fund (Get a rating)
The Central & Eastern Europe Fund, Inc operates as a closed-end investment trust. It engages in the provision of long-term capital appreciation through investment in equity or equity-like securities of issuers domiciled in Central Europe, Russia and Turkey. The company was founded on March 6, 1990 and is based in New York, NY.
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