Eaton Vance Floating-Rate Income Trust (NYSE:EFT) Sees Significant Increase in Short Interest

Eaton Vance Floating-Rate Income Trust (NYSE:EFT) was the recipient of a significant increase in short interest during the month of October. As of October 15th, there was short interest totaling 286,637 shares, an increase of 878.9% from the September 30th total of 29,283 shares. Based on an average daily trading volume, of 115,415 shares, the days-to-cover ratio is presently 2.5 days.

Institutional Trading of Eaton Vance Floating-Rate Income Trust

A number of hedge funds have recently bought and sold shares of the company. Bank of America Corp DE raised its holdings in shares of Eaton Vance Floating-Rate Income Trust by 19.2% during the first quarter. Bank of America Corp DE now owns 839,629 shares of the investment management company’s stock valued at $9,009,000 after acquiring an additional 135,373 shares during the period. Park Avenue Securities LLC acquired a new stake in Eaton Vance Floating-Rate Income Trust during the 3rd quarter valued at $1,145,000. B. Riley Wealth Advisors Inc. acquired a new stake in Eaton Vance Floating-Rate Income Trust during the 3rd quarter valued at $849,000. Baird Financial Group Inc. raised its stake in Eaton Vance Floating-Rate Income Trust by 59.4% during the 2nd quarter. Baird Financial Group Inc. now owns 210,222 shares of the investment management company’s stock valued at $2,270,000 after purchasing an additional 78,334 shares during the period. Finally, Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Eaton Vance Floating-Rate Income Trust by 16.4% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 300,586 shares of the investment management company’s stock valued at $3,246,000 after purchasing an additional 42,408 shares in the last quarter.

Eaton Vance Floating-Rate Income Trust Stock Performance

Shares of NYSE EFT traded up $0.04 during mid-day trading on Tuesday, reaching $10.47. The company had a trading volume of 13,402 shares, compared to its average volume of 111,343. The company has a 50-day moving average price of $10.60 and a two-hundred day moving average price of $10.84. Eaton Vance Floating-Rate Income Trust has a 1-year low of $10.31 and a 1-year high of $11.67.

Eaton Vance Floating-Rate Income Trust Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, October 30th. Investors of record on Thursday, October 15th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Thursday, October 15th. This represents a $0.84 dividend on an annualized basis and a yield of 8.0%. This is a decrease from Eaton Vance Floating-Rate Income Trust’s previous monthly dividend of $0.0710.

Eaton Vance Floating-Rate Income Trust Company Profile

Eaton Vance Floating-Rate Income Trust (NYSE:EFT) is a closed-end investment fund managed by Eaton Vance Management, an investment-management subsidiary of Morgan Stanley Investment Management. The fund’s primary objective is to provide a high level of current income, with capital appreciation as a secondary objective.

EFT invests principally in floating-rate loans and other floating-rate debt instruments. Its portfolio may include senior secured bank loans, corporate loans and other income-producing securities, including investments issued by companies with below-investment-grade credit ratings.