Guggenheim Enhanced Equity Income Fund (GPM) Hits New 52-Week High Following Dividend Announcement

Guggenheim Enhanced Equity Income Fund (NYSE:GPM) shares hit a new 52-week high on Tuesday following a dividend announcement from the company. The stock traded as high as $8.90 and last traded at $8.82, with a volume of 338800 shares traded. The stock had previously closed at $8.72.

The newly announced dividend which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.96 annualized dividend and a dividend yield of 10.80%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GPM. Private Advisor Group LLC increased its stake in shares of Guggenheim Enhanced Equity Income Fund by 10.8% in the 2nd quarter. Private Advisor Group LLC now owns 12,122 shares of the investment management company’s stock valued at $100,000 after buying an additional 1,179 shares during the period. Concert Wealth Management Inc. acquired a new stake in shares of Guggenheim Enhanced Equity Income Fund in the 2nd quarter valued at $145,000. Girard Partners LTD. acquired a new stake in shares of Guggenheim Enhanced Equity Income Fund in the 2nd quarter valued at $277,000. Janney Montgomery Scott LLC increased its stake in shares of Guggenheim Enhanced Equity Income Fund by 29.2% in the 2nd quarter. Janney Montgomery Scott LLC now owns 41,055 shares of the investment management company’s stock valued at $340,000 after buying an additional 9,283 shares during the period. Finally, Doliver Capital Advisors LP increased its stake in shares of Guggenheim Enhanced Equity Income Fund by 185.7% in the 2nd quarter. Doliver Capital Advisors LP now owns 44,227 shares of the investment management company’s stock valued at $366,000 after buying an additional 28,746 shares during the period.

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Guggenheim Enhanced Equity Income Fund Company Profile

Guggenheim Enhanced Equity Income Fund is a diversified, closed-end management investment company. The Fund’s primary investment objective is to seek to provide a high level of current income and current gains, with a secondary objective of long-term capital appreciation. The Fund seeks to achieve its investment objective by obtaining exposure to the equity markets and utilizing a covered call strategy, which will follow a rules-based methodology.

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