Eaton Vance Risk-Managed Diversified Equity Income Fund (NYSE:ETJ) Shares Up 0.4% – Still a Buy?

Eaton Vance Risk-Managed Diversified Equity Income Fund (NYSE:ETJ) shares shot up 0.4% during trading on Tuesday . The company traded as high as $8.45 and last traded at $8.43. Approximately 117,898 shares changed hands during trading, a decline of 20% from the average session volume of 146,637 shares. The stock had previously closed at $8.40.

Eaton Vance Risk-Managed Diversified Equity Income Fund Stock Up 0.2%

The company has a 50-day simple moving average of $8.39 and a two-hundred day simple moving average of $8.42.

Eaton Vance Risk-Managed Diversified Equity Income Fund Dividend Announcement

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 dividend of $0.0651 per share. The ex-dividend date is Friday, August 14th. This represents a c) annualized dividend and a dividend yield of 9.2%.

Institutional Trading of Eaton Vance Risk-Managed Diversified Equity Income Fund

Hedge funds have recently bought and sold shares of the company. Raymond James Financial Inc. grew its position in Eaton Vance Risk-Managed Diversified Equity Income Fund by 5.9% in the 3rd quarter. Raymond James Financial Inc. now owns 1,810,277 shares of the company’s stock worth $16,274,000 after purchasing an additional 101,577 shares during the last quarter. Osaic Holdings Inc. increased its stake in shares of Eaton Vance Risk-Managed Diversified Equity Income Fund by 3.2% in the fourth quarter. Osaic Holdings Inc. now owns 1,229,160 shares of the company’s stock valued at $10,841,000 after purchasing an additional 38,595 shares during the period. Guggenheim Capital LLC raised its holdings in shares of Eaton Vance Risk-Managed Diversified Equity Income Fund by 20.4% during the fourth quarter. Guggenheim Capital LLC now owns 1,088,860 shares of the company’s stock valued at $9,604,000 after buying an additional 184,721 shares during the last quarter. Invesco Ltd. boosted its position in shares of Eaton Vance Risk-Managed Diversified Equity Income Fund by 12.8% during the third quarter. Invesco Ltd. now owns 1,028,897 shares of the company’s stock worth $9,250,000 after buying an additional 116,366 shares during the period. Finally, Advisors Asset Management Inc. boosted its position in shares of Eaton Vance Risk-Managed Diversified Equity Income Fund by 19.4% during the fourth quarter. Advisors Asset Management Inc. now owns 438,453 shares of the company’s stock worth $3,867,000 after buying an additional 71,237 shares during the period.

About Eaton Vance Risk-Managed Diversified Equity Income Fund

Eaton Vance Risk-Managed Diversified Equity Income Fund (NYSE: ETJ) is a closed-end management investment company launched in November 2008 and managed by Eaton Vance Advisors, a subsidiary of Morgan Stanley. The fund’s primary objective is to provide a high level of monthly distributable income with an element of capital preservation. It seeks to achieve this through a diversified portfolio of equity securities combined with a systematic option overlay strategy.

The core equity allocation is invested primarily in dividend-paying common stocks of large- and mid-cap companies across a range of sectors, including financials, technology, industrials and consumer staples.