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

Eaton Vance Floating-Rate Income Trust (NYSE:EFT) was the target of a large growth in short interest in October. As of October 15th, there was short interest totaling 286,637 shares, a growth of 878.9% from the September 30th total of 29,283 shares. Based on an average trading volume of 115,415 shares, the short-interest ratio is currently 2.5 days.

Eaton Vance Floating-Rate Income Trust Price Performance

Shares of Eaton Vance Floating-Rate Income Trust stock traded up $0.04 on Wednesday, reaching $10.61. The company had a trading volume of 42,783 shares, compared to its average volume of 111,192. The firm’s 50-day moving average price is $10.59 and its two-hundred day moving average price is $10.83. 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 company also recently disclosed a monthly dividend, which will be paid on Friday, October 30th. Shareholders of record on Thursday, October 15th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, October 15th. This is a negative change from Eaton Vance Floating-Rate Income Trust’s previous monthly dividend of $0.0710. This represents a $0.84 annualized dividend and a yield of 7.9%.

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

A number of large investors have recently made changes to their positions in the company. Choreo LLC raised its position in Eaton Vance Floating-Rate Income Trust by 3.3% in the 3rd quarter. Choreo LLC now owns 31,000 shares of the investment management company’s stock worth $331,000 after purchasing an additional 1,000 shares during the period. CoreCap Advisors LLC grew its stake in shares of Eaton Vance Floating-Rate Income Trust by 100.0% during the second quarter. CoreCap Advisors LLC now owns 2,600 shares of the investment management company’s stock valued at $28,000 after buying an additional 1,300 shares during the last quarter. Sigma Planning Corp grew its stake in shares of Eaton Vance Floating-Rate Income Trust by 14.1% during the third quarter. Sigma Planning Corp now owns 11,505 shares of the investment management company’s stock valued at $123,000 after buying an additional 1,418 shares during the last quarter. Dynamic Advisor Solutions LLC raised its holdings in shares of Eaton Vance Floating-Rate Income Trust by 12.2% in the second quarter. Dynamic Advisor Solutions LLC now owns 21,520 shares of the investment management company’s stock worth $232,000 after buying an additional 2,342 shares during the period. Finally, Fifth Third Bancorp purchased a new stake in shares of Eaton Vance Floating-Rate Income Trust in the first quarter worth approximately $124,000.

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.