Short Interest in Eaton Vance Floating-Rate Income Trust (NYSE:EFT) Increases By 103.2%
by Sarita Garza · The Markets DailyEaton Vance Floating-Rate Income Trust (NYSE:EFT – Get Free Report) was the recipient of a large increase in short interest in February. As of February 13th, there was short interest totaling 59,025 shares, an increase of 103.2% from the January 29th total of 29,050 shares. Based on an average daily volume of 96,039 shares, the days-to-cover ratio is presently 0.6 days. Based on an average daily volume of 96,039 shares, the days-to-cover ratio is presently 0.6 days.
Hedge Funds Weigh In On Eaton Vance Floating-Rate Income Trust
A number of institutional investors have recently added to or reduced their stakes in EFT. 1607 Capital Partners LLC boosted its position in Eaton Vance Floating-Rate Income Trust by 994.3% in the fourth quarter. 1607 Capital Partners LLC now owns 799,921 shares of the investment management company’s stock valued at $9,031,000 after buying an additional 726,821 shares in the last quarter. Rivernorth Capital Management LLC acquired a new position in Eaton Vance Floating-Rate Income Trust in the 4th quarter worth about $3,673,000. Balyasny Asset Management L.P. raised its position in Eaton Vance Floating-Rate Income Trust by 534.0% in the fourth quarter. Balyasny Asset Management L.P. now owns 170,126 shares of the investment management company’s stock valued at $1,921,000 after purchasing an additional 143,292 shares during the last quarter. NewEdge Advisors LLC boosted its stake in shares of Eaton Vance Floating-Rate Income Trust by 6,028.1% during the second quarter. NewEdge Advisors LLC now owns 122,562 shares of the investment management company’s stock valued at $1,530,000 after purchasing an additional 120,562 shares in the last quarter. Finally, Readystate Asset Management LP increased its stake in shares of Eaton Vance Floating-Rate Income Trust by 271.2% in the third quarter. Readystate Asset Management LP now owns 140,990 shares of the investment management company’s stock valued at $1,659,000 after buying an additional 103,012 shares during the period.
Eaton Vance Floating-Rate Income Trust Price Performance
Shares of EFT stock traded down $0.10 on Friday, hitting $10.91. 171,001 shares of the company’s stock were exchanged, compared to its average volume of 114,780. Eaton Vance Floating-Rate Income Trust has a 12 month low of $10.44 and a 12 month high of $13.26. The company has a 50 day moving average of $11.36 and a 200 day moving average of $11.57.
Eaton Vance Floating-Rate Income Trust Announces Dividend
The business also recently announced a monthly dividend, which will be paid on Friday, February 27th. Stockholders of record on Tuesday, February 17th will be issued a $0.086 dividend. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a c) dividend on an annualized basis and a dividend yield of 9.5%.
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.