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 in May. As of May 15th, there was short interest totaling 230,498 shares, an increase of 243.1% from the April 30th total of 67,174 shares. Based on an average trading volume of 115,188 shares, the days-to-cover ratio is presently 2.0 days.

Eaton Vance Floating-Rate Income Trust Stock Down 0.1%

NYSE:EFT traded down $0.02 during mid-day trading on Friday, hitting $10.90. The stock had a trading volume of 44,437 shares, compared to its average volume of 121,046. The stock has a 50-day simple moving average of $10.80 and a two-hundred day simple moving average of $11.11. Eaton Vance Floating-Rate Income Trust has a twelve month low of $10.34 and a twelve month high of $12.67.

Eaton Vance Floating-Rate Income Trust Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, May 29th. Shareholders of record on Friday, May 15th will be paid a $0.07 dividend. This is an increase from Eaton Vance Floating-Rate Income Trust’s previous monthly dividend of $0.07. This represents a c) annualized dividend and a yield of 7.7%. The ex-dividend date is Friday, May 15th.

Hedge Funds Weigh In On Eaton Vance Floating-Rate Income Trust

Several hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE increased its stake in Eaton Vance Floating-Rate Income Trust by 19.2% in 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 purchasing an additional 135,373 shares during the last quarter. Icon Advisers Inc. Co. grew its position in shares of Eaton Vance Floating-Rate Income Trust by 13.3% during the first quarter. Icon Advisers Inc. Co. now owns 170,280 shares of the investment management company’s stock worth $1,827,000 after acquiring an additional 19,943 shares during the last quarter. Fifth Third Bancorp acquired a new stake in shares of Eaton Vance Floating-Rate Income Trust during the first quarter worth $124,000. Kestra Advisory Services LLC acquired a new stake in shares of Eaton Vance Floating-Rate Income Trust during the first quarter worth $145,000. Finally, Virtu Financial LLC acquired a new stake in shares of Eaton Vance Floating-Rate Income Trust during the fourth quarter worth $206,000.

Eaton Vance Floating-Rate Income Trust Company Profile

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.