Eaton Vance Senior Floating-Rate Trust (NYSE:EFR) Trading Down 0% – Here’s Why

Eaton Vance Senior Floating-Rate Trust (NYSE:EFR)’s share price dropped 0% during trading on Tuesday . The company traded as low as $10.52 and last traded at $10.6060. 182,884 shares were traded during mid-day trading, an increase of 37% from the average session volume of 133,260 shares. The stock had previously closed at $10.61.

Eaton Vance Senior Floating-Rate Trust Stock Down 0.0%

The company has a fifty day moving average of $10.61 and a 200 day moving average of $10.58.

Eaton Vance Senior Floating-Rate Trust Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 14th will be given a $0.07 dividend. This is an increase from Eaton Vance Senior Floating-Rate Trust’s previous monthly dividend of $0.07. The ex-dividend date is Friday, August 14th. This represents a c) dividend on an annualized basis and a dividend yield of 7.9%.

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

Hedge funds have recently bought and sold shares of the company. Wolverine Asset Management LLC lifted its stake in Eaton Vance Senior Floating-Rate Trust by 41.7% in the fourth quarter. Wolverine Asset Management LLC now owns 245,318 shares of the company’s stock valued at $2,733,000 after buying an additional 72,213 shares during the period. Icon Advisers Inc. Co. grew its position in shares of Eaton Vance Senior Floating-Rate Trust by 117.7% during the 1st quarter. Icon Advisers Inc. Co. now owns 108,870 shares of the company’s stock worth $1,147,000 after buying an additional 58,870 shares during the period. Sit Investment Associates Inc. acquired a new stake in shares of Eaton Vance Senior Floating-Rate Trust during the 4th quarter worth approximately $2,935,000. Saba Capital Management L.P. bought a new stake in shares of Eaton Vance Senior Floating-Rate Trust in the 1st quarter valued at $2,759,000. Finally, 1607 Capital Partners LLC increased its stake in shares of Eaton Vance Senior Floating-Rate Trust by 331.3% in the 4th quarter. 1607 Capital Partners LLC now owns 1,432,147 shares of the company’s stock valued at $15,954,000 after acquiring an additional 1,100,058 shares in the last quarter.

About Eaton Vance Senior Floating-Rate Trust

Eaton Vance Senior Floating-Rate Trust (NYSE:EFR) is a closed-end management investment company that seeks to provide a high level of current income, with capital appreciation as a secondary objective. The trust achieves its objectives by investing predominately in senior floating-rate loans—also known as bank loans—issued by corporate borrowers. These floating-rate instruments typically carry interest rates that reset periodically, offering investors a degree of protection against rising rate environments.

The portfolio is managed by the fixed-income team at Eaton Vance Management, a subsidiary of Morgan Stanley, which employs fundamental credit research and active trading strategies to identify and manage risk.