Eaton Vance Floating-Rate Income Trust (NYSE:EFT) Sees Significant Decline in Short Interest
by Renee Jackson · The Cerbat GemEaton Vance Floating-Rate Income Trust (NYSE:EFT – Get Free Report) saw a large drop in short interest in the month of March. As of March 31st, there was short interest totaling 52,738 shares, a drop of 42.0% from the March 15th total of 90,877 shares. Based on an average daily trading volume, of 181,094 shares, the short-interest ratio is presently 0.3 days.
Eaton Vance Floating-Rate Income Trust Price Performance
Shares of Eaton Vance Floating-Rate Income Trust stock traded down $0.07 during trading on Wednesday, hitting $10.76. 52,015 shares of the stock were exchanged, compared to its average volume of 129,921. The firm’s 50-day moving average price is $10.89 and its 200 day moving average price is $11.26. Eaton Vance Floating-Rate Income Trust has a 12-month low of $10.34 and a 12-month high of $12.67.
Eaton Vance Floating-Rate Income Trust Cuts Dividend
The company also recently disclosed a monthly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Wednesday, April 15th will be given a dividend of $0.069 per share. This represents a c) annualized dividend and a dividend yield of 7.7%. The ex-dividend date of this dividend is Wednesday, April 15th.
Institutional Investors Weigh In On Eaton Vance Floating-Rate Income Trust
Institutional investors have recently modified their holdings of the company. Gould Capital LLC lifted its position in shares of Eaton Vance Floating-Rate Income Trust by 93.7% during the 4th quarter. Gould Capital LLC now owns 2,812 shares of the investment management company’s stock worth $32,000 after purchasing an additional 1,360 shares during the last quarter. Bard Associates Inc. purchased a new stake in shares of Eaton Vance Floating-Rate Income Trust during the 4th quarter worth $56,000. MeadowBrook Investment Advisors LLC raised its stake in Eaton Vance Floating-Rate Income Trust by 33.0% during the 3rd quarter. MeadowBrook Investment Advisors LLC now owns 5,435 shares of the investment management company’s stock worth $64,000 after acquiring an additional 1,350 shares in the last quarter. Advisory Services Network LLC acquired a new stake in Eaton Vance Floating-Rate Income Trust during the 3rd quarter worth $69,000. Finally, Comerica Bank raised its stake in Eaton Vance Floating-Rate Income Trust by 12.4% during the 3rd quarter. Comerica Bank now owns 7,990 shares of the investment management company’s stock worth $94,000 after acquiring an additional 883 shares in the last quarter.
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.