Short Interest in Eaton Vance Floating-Rate Income Trust (NYSE:EFT) Drops By 41.8%
by Renee Jackson · The Cerbat GemEaton Vance Floating-Rate Income Trust (NYSE:EFT – Get Free Report) was the target of a significant decrease in short interest in the month of April. As of April 15th, there was short interest totaling 30,690 shares, a decrease of 41.8% from the March 31st total of 52,738 shares. Based on an average daily trading volume, of 102,705 shares, the short-interest ratio is presently 0.3 days.
Eaton Vance Floating-Rate Income Trust Price Performance
Shares of EFT traded up $0.01 during mid-day trading on Monday, hitting $10.80. 58,268 shares of the company’s stock were exchanged, compared to its average volume of 124,749. Eaton Vance Floating-Rate Income Trust has a fifty-two week low of $10.34 and a fifty-two week high of $12.67. The business’s 50 day moving average is $10.81 and its two-hundred day moving average is $11.20.
Eaton Vance Floating-Rate Income Trust Cuts Dividend
The company also recently disclosed a monthly dividend, which will be paid on Thursday, April 30th. Investors of record on Wednesday, April 15th will be given a $0.069 dividend. The ex-dividend date is Wednesday, April 15th. This represents a c) dividend on an annualized basis and a yield of 7.7%.
Institutional Investors Weigh In On Eaton Vance Floating-Rate Income Trust
Hedge funds have recently added to or reduced their stakes in the company. Gould Capital LLC lifted its position in Eaton Vance Floating-Rate Income Trust by 93.7% in the fourth quarter. Gould Capital LLC now owns 2,812 shares of the investment management company’s stock valued at $32,000 after purchasing an additional 1,360 shares during the period. Bard Associates Inc. acquired a new stake in Eaton Vance Floating-Rate Income Trust in the fourth quarter valued at about $56,000. MeadowBrook Investment Advisors LLC lifted its position in Eaton Vance Floating-Rate Income Trust by 33.0% in the third quarter. MeadowBrook Investment Advisors LLC now owns 5,435 shares of the investment management company’s stock valued at $64,000 after purchasing an additional 1,350 shares during the period. Advisory Services Network LLC acquired a new stake in Eaton Vance Floating-Rate Income Trust in the third quarter valued at about $69,000. Finally, Comerica Bank lifted its position in Eaton Vance Floating-Rate Income Trust by 12.4% in the third quarter. Comerica Bank now owns 7,990 shares of the investment management company’s stock valued at $94,000 after purchasing an additional 883 shares during the period.
About Eaton Vance Floating-Rate Income Trust
Eaton Vance Floating-Rate Income Trust (NYSE: EFT) is a diversified, closed-end management investment company that seeks to provide current income with capital preservation. Originally launched in June 1988, the trust is listed on the New York Stock Exchange and offers investors access to a portfolio of floating-rate debt instruments. As a closed-end vehicle, it issues a fixed number of shares and may employ leverage to enhance income potential.
The trust’s primary investment strategy centers on senior secured floating-rate loans, often referred to as bank loans, issued by U.S.