This study aims to investigate the effects of electroactive morphing on a 70cm chord A320 wing by means of near trailing edge slight deformation and vibration. Wing morphing is performed by Macro Fiber Composites (MFC) piezoelectric actuators distributed along the span of the “Reduced Scale” (RS) prototype of the H2020 European research project “Smart Morphing and Sensing for aeronautical configurations” - (SMS). The configuration studied corresponds to a low-subsonic regime (Mach number 0.063) with a 10∘ incidence and a Reynolds number of 1 Million. The numerical simulations are carried out with the Navier-Stokes Multi-Block (NSMB) solver, which takes into account the deformation of the rear part of the wing implemented experimentally with the piezoelectric actuators. A detailed physical analysis of the morphing effects on the wake dynamics and on the aerodynamic performance is conducted with a constant amplitude of 0.7mm over a wide range of actuation frequencies [10-600]Hz. Optimal vibration ranges of [180-192]Hz and [205-215]Hz were found to respectively provide a 1% drag reduction and a 2% lift-to-drag ratio increase compared to the non-morphing (static) configuration. The natural frequencies associated with the shear layer Kelvin-Helmholtz (KH) vortices and the Von-Kármán (VK) vortex shedding were found to play a central role in the modification of the wake dynamics by morphing as well as in the increase of the aerodynamic performance. Actuating at (or close to) the upper shear layer (USL) natural frequency (∼185Hz) provides an order of 1% drag reduction and 1% lift-to-drag ratio increase, while actuating at (or close to) the lower shear layer (LSL) natural frequency (∼208Hz) provides an order of 8% lift increase and 2% lift-to-drag increase. Furthermore, the linear modulation in time of the actuation frequency (wobulation) demonstrated, through an appropriate mapping, the ability to quickly and efficiently detect optimal constant actuation frequency ranges providing aerodynamic performance increase and simultaneously reducing the amplitude of the main instability modes.