Eaton Vance Floating-Rate Income Trust (NYSE:EFT) Share Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Eaton Vance Floating-Rate Income Trust (NYSE:EFT) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $10.84 and traded as high as $10.85. Eaton Vance Floating-Rate Income Trust shares last traded at $10.7340, with a volume of 215,514 shares.

Eaton Vance Floating-Rate Income Trust Stock Performance

The firm’s 50 day simple moving average is $10.74 and its 200-day simple moving average is $10.84.

Eaton Vance Floating-Rate Income Trust Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Friday, August 14th will be given a dividend of $0.068 per share. The ex-dividend date of this dividend is Friday, August 14th. This is a positive change from Eaton Vance Floating-Rate Income Trust’s previous monthly dividend of $0.07. This represents a c) annualized dividend and a yield of 7.6%.

Institutional Investors Weigh In On Eaton Vance Floating-Rate Income Trust

Institutional investors have recently bought and sold shares of the business. CoreCap Advisors LLC increased its holdings in shares of Eaton Vance Floating-Rate Income Trust by 100.0% in the 2nd quarter. CoreCap Advisors LLC now owns 2,600 shares of the investment management company’s stock valued at $28,000 after purchasing an additional 1,300 shares during the period. Gould Capital LLC boosted its holdings in shares of Eaton Vance Floating-Rate Income Trust by 93.7% during the fourth quarter. Gould Capital LLC now owns 2,812 shares of the investment management company’s stock worth $32,000 after purchasing an additional 1,360 shares during the period. Bard Associates Inc. purchased a new position in Eaton Vance Floating-Rate Income Trust during the fourth quarter valued at approximately $56,000. Advisory Services Network LLC acquired a new position in Eaton Vance Floating-Rate Income Trust in the 3rd quarter valued at approximately $69,000. Finally, Comerica Bank increased its stake in Eaton Vance Floating-Rate Income Trust by 12.4% in the 3rd quarter. Comerica Bank now owns 7,990 shares of the investment management company’s stock valued at $94,000 after buying an additional 883 shares during the period.

About Eaton Vance Floating-Rate Income Trust

Eaton Vance Floating-Rate Income Trust (NYSE: EFT) is a diversified, closed-end management investment company that seeks to provide current income with capital preservation. Originally launched in June 1988, the trust is listed on the New York Stock Exchange and offers investors access to a portfolio of floating-rate debt instruments. As a closed-end vehicle, it issues a fixed number of shares and may employ leverage to enhance income potential.

The trust’s primary investment strategy centers on senior secured floating-rate loans, often referred to as bank loans, issued by U.S.