Eaton Vance Senior Floating-Rate Trust (NYSE:EFR) Sees Large Decline in Short Interest

Eaton Vance Senior Floating-Rate Trust (NYSE:EFR) was the recipient of a large decline in short interest in April. As of April 15th, there was short interest totaling 2,896 shares, a decline of 89.5% from the March 31st total of 27,635 shares. Based on an average daily volume of 109,967 shares, the short-interest ratio is presently 0.0 days.

Eaton Vance Senior Floating-Rate Trust Price Performance

Shares of Eaton Vance Senior Floating-Rate Trust stock traded down $0.02 on Friday, hitting $10.48. The company’s stock had a trading volume of 149,383 shares, compared to its average volume of 143,133. Eaton Vance Senior Floating-Rate Trust has a 1 year low of $10.11 and a 1 year high of $12.21. The firm has a fifty day moving average price of $10.54 and a 200-day moving average price of $10.96.

Eaton Vance Senior Floating-Rate Trust Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, April 30th. Investors of record on Wednesday, April 15th will be paid a $0.068 dividend. This represents a c) annualized dividend and a dividend yield of 7.8%. The ex-dividend date is Wednesday, April 15th.

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

Several institutional investors and hedge funds have recently modified their holdings of EFR. 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 purchasing an additional 1,100,058 shares in the last quarter. Pathstone Holdings LLC purchased a new position in shares of Eaton Vance Senior Floating-Rate Trust in the 3rd quarter valued at about $9,520,000. Rivernorth Capital Management LLC purchased a new stake in Eaton Vance Senior Floating-Rate Trust during the 4th quarter worth approximately $3,707,000. Sit Investment Associates Inc. purchased a new stake in Eaton Vance Senior Floating-Rate Trust during the 4th quarter worth approximately $2,935,000. Finally, Balyasny Asset Management L.P. increased its stake in Eaton Vance Senior Floating-Rate Trust by 382.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 216,329 shares of the company’s stock worth $2,410,000 after buying an additional 171,524 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.