Eaton Vance Floating Rate ETF (NYSEARCA:EVLN) Hits New 52-Week Low – Time to Sell?

Shares of Eaton Vance Floating Rate ETF (NYSEARCA:EVLN) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $48.12 and last traded at $48.1090, with a volume of 1870 shares. The stock had previously closed at $48.26.

Eaton Vance Floating Rate ETF Price Performance

The company has a 50-day simple moving average of $49.22 and a 200 day simple moving average of $49.55.

Eaton Vance Floating Rate ETF Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, March 5th. Investors of record on Friday, February 27th will be paid a $0.2424 dividend. This represents a c) annualized dividend and a yield of 6.0%. The ex-dividend date of this dividend is Friday, February 27th.

Institutional Trading of Eaton Vance Floating Rate ETF

Large investors have recently modified their holdings of the company. Flow Traders U.S. LLC bought a new position in Eaton Vance Floating Rate ETF in the third quarter worth approximately $1,174,000. Eldridge Investment Advisors Inc. lifted its holdings in shares of Eaton Vance Floating Rate ETF by 0.6% in the 4th quarter. Eldridge Investment Advisors Inc. now owns 189,982 shares of the company’s stock worth $9,399,000 after buying an additional 1,102 shares during the period. Finally, Ameriprise Financial Inc. bought a new position in shares of Eaton Vance Floating Rate ETF during the 3rd quarter worth $27,435,000.

Eaton Vance Floating Rate ETF Company Profile

The Eaton Vance Floating-Rate ETF (EVLN) is an exchange-traded fund that mostly invests in high yield fixed income. The fund is actively managed, seeking high current income by holding sub-investment grade floating-rate loans and corporate debts issued globally. EVLN was launched on Feb 6, 2024 and is issued by Eaton Vance.