Eaton Vance Senior Floating-Rate Trust (NYSE:EFR) Stock Price Breaks Below 50-Day Moving Average – Time to Sell?

Eaton Vance Senior Floating-Rate Trust (NYSE:EFR) shares crossed below its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $10.28 and traded as low as $10.22. Eaton Vance Senior Floating-Rate Trust shares last traded at $10.2440, with a volume of 137,645 shares traded.

Eaton Vance Senior Floating-Rate Trust Price Performance

The stock’s 50 day moving average price is $10.27 and its 200-day moving average price is $10.52.

Eaton Vance Senior Floating-Rate Trust Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, November 30th. Investors of record on Monday, November 16th will be paid a dividend of $0.0690 per share. This is a positive change from Eaton Vance Senior Floating-Rate Trust’s previous monthly dividend of $0.0670. The ex-dividend date is Monday, November 16th. This represents a $0.83 dividend on an annualized basis and a dividend yield of 8.1%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Integrated Wealth Concepts LLC bought a new stake in Eaton Vance Senior Floating-Rate Trust during the second quarter valued at about $55,000. Sanctuary Advisors LLC purchased a new stake in shares of Eaton Vance Senior Floating-Rate Trust during the first quarter worth about $112,000. Fifth Third Bancorp purchased a new stake in shares of Eaton Vance Senior Floating-Rate Trust during the first quarter worth about $125,000. Independent Financial Group LLC bought a new stake in Eaton Vance Senior Floating-Rate Trust during the 1st quarter valued at approximately $142,000. Finally, NewEdge Advisors LLC raised its stake in Eaton Vance Senior Floating-Rate Trust by 15.2% during the 1st quarter. NewEdge Advisors LLC now owns 15,117 shares of the company’s stock valued at $159,000 after purchasing an additional 1,991 shares during the period.

Eaton Vance Senior Floating-Rate Trust Company Profile

Eaton Vance Senior Floating-Rate Trust is a closed-end management investment company listed on the New York Stock Exchange under the symbol EFR. The trust seeks to provide a high level of current income while preserving capital as a secondary objective. The fund invests primarily in senior, secured, floating-rate loans and other floating-rate debt obligations issued by companies. These loans are generally below investment grade or unrated and are designed to provide income that can adjust periodically as interest rates change.