Short Interest in Eaton Vance Floating-Rate Income Trust (NYSE:EFT) Decreases By 49.7%

Eaton Vance Floating-Rate Income Trust (NYSE:EFT) saw a significant drop in short interest during the month of June. As of June 30th, there was short interest totaling 43,364 shares, a drop of 49.7% from the June 15th total of 86,256 shares. Based on an average daily volume of 68,524 shares, the days-to-cover ratio is presently 0.6 days.

Eaton Vance Floating-Rate Income Trust Stock Down 0.7%

Shares of Eaton Vance Floating-Rate Income Trust stock traded down $0.07 on Wednesday, hitting $10.73. The stock had a trading volume of 53,680 shares, compared to its average volume of 109,823. Eaton Vance Floating-Rate Income Trust has a 52-week low of $10.34 and a 52-week high of $12.62. The company’s 50 day moving average price is $10.81 and its 200 day moving average price is $10.97.

Eaton Vance Floating-Rate Income Trust Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th will be given a dividend of $0.066 per share. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a c) annualized dividend and a yield of 7.4%.

Institutional Investors Weigh In On Eaton Vance Floating-Rate Income Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. 1607 Capital Partners LLC raised its position in Eaton Vance Floating-Rate Income Trust by 994.3% in the 4th quarter. 1607 Capital Partners LLC now owns 799,921 shares of the investment management company’s stock valued at $9,031,000 after purchasing an additional 726,821 shares during the last quarter. Rivernorth Capital Management LLC purchased a new position in Eaton Vance Floating-Rate Income Trust during the 4th quarter worth $3,673,000. Balyasny Asset Management L.P. grew its position in Eaton Vance Floating-Rate Income Trust by 534.0% during the 4th quarter. Balyasny Asset Management L.P. now owns 170,126 shares of the investment management company’s stock worth $1,921,000 after purchasing an additional 143,292 shares during the last quarter. Bank of America Corp DE grew its position in Eaton Vance Floating-Rate Income Trust by 19.2% during the 1st quarter. Bank of America Corp DE now owns 839,629 shares of the investment management company’s stock worth $9,009,000 after purchasing an additional 135,373 shares during the last quarter. Finally, NewEdge Advisors LLC increased its stake in Eaton Vance Floating-Rate Income Trust by 6,028.1% in 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 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.