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First Trust Enhanced Equity Income Fund (FFA)

Financial Services | Asset Management | Wheaton, United States | NYSE
23.27 USD +0.14 (0.605%) ⇧ (Aug. 28, 2026, 4 p.m. EDT)
After hours: 23.27

Short-term:★★⯪☆☆Long-term:★★⯪☆☆Dividends:★☆☆☆☆
Hot Take | Aug. 22, 2026, 3:03 a.m. EDT

The most critical issue here is the nature of the income. While the headline yield looks attractive at 6.7%, nearly 95% of the recent distribution was classified as a return of capital rather than taxable income. This means the price appreciation required to generate that yield is actually eroding the principal base, making the 'yield' an illusion of value destruction rather than sustainable cash flow. Consequently, the long-term investment thesis is severely compromised; despite a decent 18% return on equity and a low P/E, the business is distributing its own capital to shareholders, which is a hallmark of a deteriorating or value-trap scenario. The short-term outlook remains neutral because the stock is range-bound and trading near its 200-day average, offering no immediate catalyst for a breakout, though the statistical forecast model shows no directional bias. Investors seeking true income will find this fund unsuitable due to the aggressive use of return of capital.

Model Selection — Backtest MAE (log-scale, lower is better)
ModelMAE
MSTL ✓0.026011
AutoARIMA0.027337
AutoETS0.027680
AutoTheta0.029125

Forecast horizon: 45 days | Selected: MSTL

Forecast Reliability
Score 64%
H-stat 0.75
Ljung-Box p 0.000
Jarque-Bera p 0.334
Excess Kurtosis 0.40
Attribute Value
Sector Financial Services
Ex Dividend Date 2026-06-21
Last Dividend Date 2026-06-21
Revenue per Share 0.327
Market Cap 465,122,784
Trailing P/E 5.72
Beta 0.99
Profit Margins 1236.28%
Website https://www.ftportfolios.com/Retail/cef/cefsummary.aspx?Ticker=FFA

Dividend Data

Yield Summary
Last Yield 1yr Yield 3yr Avg 5yr Avg
1.76% 7.31% 7.14% 7.17%
Dividend History
Date Dividend Yield %
2026-06-22 0.388 1.759637
2026-03-20 0.388 1.937094
2025-12-22 0.388 1.803812
2025-09-22 0.388 1.808015
2025-06-23 0.350 1.764113
2025-03-24 0.350 1.782985
2024-12-20 0.350 1.728395
2024-09-20 0.350 1.748252
2024-06-21 0.350 1.797637
2024-03-22 0.315 1.679104
2023-12-22 0.315 1.769663
2023-09-22 0.315 1.842105
2023-06-22 0.315 1.830331
2023-03-22 0.315 1.950464
2022-12-22 0.315 2.034884
2022-09-22 0.315 2.033570
2022-06-22 0.315 1.967520
2022-03-22 0.315 1.535088
2021-12-22 0.315 1.507177
2021-09-22 0.315 1.547912
2021-06-22 0.315 1.590909
2021-03-22 0.315 1.716621
2020-12-22 0.285 1.681416
2020-09-22 0.285 1.929587
2020-06-22 0.285 1.977793
2020-03-20 0.285 2.761628
2019-12-20 0.285 1.664720
2019-09-20 0.285 1.781250
2019-06-21 0.285 1.845855
2019-03-22 0.285 1.929587
2018-12-21 0.285 2.296535
2018-09-21 0.285 1.753846
2018-06-22 0.285 1.764706
2018-03-22 0.285 1.905080
2017-12-22 0.285 1.740990
2017-09-22 0.285 1.912752
2017-06-22 0.285 1.953393
2017-03-22 0.250 1.770538
2016-12-22 0.240 1.771218
2016-09-22 0.240 1.763409
2016-06-21 0.240 1.854714
2016-03-21 0.240 1.883830
2015-12-22 0.235 1.788432
2015-09-22 0.235 1.846033
2015-06-22 0.235 1.579301
2015-03-20 0.235 1.618457
2014-12-22 0.230 1.577503
2014-09-22 0.230 1.587302
2014-06-20 0.230 1.577503
2014-03-20 0.230 1.747720
2013-12-20 0.225 1.714939
2013-09-19 0.225 1.768868
2013-06-19 0.225 1.753702
2013-03-20 0.225 1.738794
2012-12-21 0.225 1.897133
2012-09-19 0.225 1.839738
2012-06-20 0.225 1.924722
2012-03-21 0.225 1.879699
2011-12-21 0.225 2.124646
2011-09-21 0.225 2.106742
2011-06-21 0.225 1.864126
2011-03-21 0.225 1.848809
2010-12-21 0.220 1.827243
2010-09-21 0.220 1.894918
2010-06-21 0.220 2.069614
2010-03-19 0.220 1.903114
2009-12-21 0.220 1.924759
2009-09-21 0.220 2.123552
2009-06-19 0.220 2.514286
2009-03-19 0.300 3.856041
2008-12-19 0.400 4.938271
2008-09-18 0.400 3.593890
2008-06-18 0.400 2.820874
2008-03-18 0.400 2.810963
2007-12-19 0.400 2.585650
2007-09-18 0.457 2.644676
2007-06-18 0.400 2.127660
2007-03-19 0.400 2.234637
2006-12-20 0.400 2.188184
2006-09-18 0.400 2.250985
2006-06-19 0.400 2.312139
2006-03-17 0.400 2.185792
2005-09-01 0.400 2.035623
2005-06-01 0.400 2.039776
2004-12-20 0.503 2.590113
Additional Data
dividendRate 1.55
dividendYield 6.66
exDividendDate 2026-06-22
trailingAnnualDividendRate 1.475
trailingAnnualDividendYield 0.063769996
lastDividendValue 0.388
lastDividendDate 2026-06-22
dividendDate 2018-12-31

Info Dump

Attribute Value
52 Week Change 0.10441387
Address1 120 East Liberty Drive
Address2 Suite 400
All Time High 23.82
All Time Low 6.69
Ask 23.66
Ask Size 200
Average Daily Volume10 Day 25,340
Average Daily Volume3 Month 28,577
Average Volume 28,577
Average Volume10Days 25,340
Beta 0.991
Bid 22.8
Bid Size 300
Book Value 23.72
City Wheaton
Country United States
Crypto Tradeable 0
Currency USD
Current Price 23.27
Current Ratio 4.906
Custom Price Alert Confidence HIGH
Date Short Interest 1,786,665,600
Day High 23.33
Day Low 23.16
Dividend Date 1,546,214,400
Dividend Rate 1.55
Dividend Yield 6.66
Earnings Growth 1.118
Earnings Quarterly Growth 1.118
Earnings Timestamp End 1,741,604,340
Earnings Timestamp Start 1,741,604,340
Ebitda Margins 0.0
Enterprise To Revenue 70.592
Enterprise Value 461,081,440
Eps Trailing Twelve Months 4.07
Esg Populated 0
Ex Dividend Date 1,782,086,400
Exchange NYQ
Exchange Data Delayed By 0
Exchange Timezone Name America/New_York
Exchange Timezone Short Name EDT
Fifty Day Average 22.7672
Fifty Day Average Change 0.5028
Fifty Day Average Change Percent 0.022084402
Fifty Two Week Change Percent 10.441387
Fifty Two Week High 23.82
Fifty Two Week High Change -0.54999924
Fifty Two Week High Change Percent -0.02308981
Fifty Two Week Low 19.5
Fifty Two Week Low Change 3.7700005
Fifty Two Week Low Change Percent 0.19333336
Fifty Two Week Range 19.5 - 23.82
Financial Currency USD
First Trade Date Milliseconds 1,093,613,400,000
Five Year Avg Dividend Yield 6.86
Full Exchange Name NYSE
Fullday Change 0.140001
Fullday Change Percent 0.60528
Fullday Price 23.27
Gmt Off Set Milliseconds -14,400,000
Gross Margins 1.0
Gross Profits 6,531,644
Has Pre Post Market Data 1
Held Percent Insiders 0.0
Held Percent Institutions 0.32788
Implied Shares Outstanding 19,988,086
Industry Asset Management
Industry Disp Asset Management
Industry Key asset-management
Ir Website http://www.ftportfolios.com/Retail/cef/CEFdividhistory.aspx?Ticker=FFA
Is Earnings Date Estimate 0
Language en-US
Last Dividend Date 1,782,086,400
Last Dividend Value 0.388
Last Fiscal Year End 1,767,139,200
Long Business Summary 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.
Long Name First Trust Enhanced Equity Income Fund
Market us_market
Market Cap 465,122,784
Market State CLOSED
Max Age 86,400
Message Board Id finmb_10113013
Most Recent Quarter 1,767,139,200
Net Income To Common 80,749,280
Next Fiscal Year End 1,798,675,200
Non Diluted Market Cap 462,324,406
Open 23.22
Operating Margins 0.20561
Payout Ratio 0.3651
Phone 630-765-8000
Post Market Change 0.0
Post Market Change Percent 0.0
Post Market Price 23.27
Post Market Time 1,787,959,805
Previous Close 23.13
Price Hint 2
Price To Book 0.98102874
Price To Sales Trailing12 Months 71.21068
Profit Margins 12.36278
Quick Ratio 4.903
Quote Source Name Nasdaq Real Time Price
Quote Type EQUITY
Recommendation Key none
Region US
Regular Market Change 0.140001
Regular Market Change Percent 0.60528
Regular Market Day High 23.33
Regular Market Day Low 23.16
Regular Market Day Range 23.16 - 23.33
Regular Market Open 23.22
Regular Market Previous Close 23.13
Regular Market Price 23.27
Regular Market Time 1,787,947,202
Regular Market Volume 15,458
Return On Assets 0.00228
Return On Equity 0.18004999
Revenue Growth -0.051
Revenue Per Share 0.327
Sand P52 Week Change 0.20204377
Sector Financial Services
Sector Disp Financial Services
Sector Key financial-services
Shares Outstanding 19,988,085
Shares Percent Shares Out 0.00059999997
Shares Short 12,958
Shares Short Previous Month Date 1,784,073,600
Shares Short Prior Month 24,038
Short Name First Trust Enhanced Equity Inc
Short Percent Of Float 0.0013
Short Ratio 0.48
Source Interval 15
State IL
Symbol FFA
Total Cash 4,041,310
Total Cash Per Share 0.202
Total Debt 0
Total Revenue 6,531,644
Tradeable 0
Trailing Annual Dividend Rate 1.475
Trailing Annual Dividend Yield 0.063769996
Trailing Eps 4.07
Trailing P E 5.7174444
Trailing Peg Ratio None
Triggerable 1
Two Hundred Day Average 22.05505
Two Hundred Day Average Change 1.2149506
Two Hundred Day Average Change Percent 0.055087183
Type Disp Equity
Volume 15,458
Website https://www.ftportfolios.com/Retail/cef/cefsummary.aspx?Ticker=FFA
Zip 60,187