Eaton Vance Floating Rate ETF (NYSEARCA:EVLN) Sees Unusually-High Trading Volume – What’s Next?

Shares of Eaton Vance Floating Rate ETF (NYSEARCA:EVLN) saw strong trading volume on Wednesday . 224,084 shares were traded during trading, an increase of 161% from the previous session’s volume of 85,711 shares.The stock last traded at $49.01 and had previously closed at $48.92.

Eaton Vance Floating Rate ETF Stock Performance

The stock’s 50-day moving average is $48.72 and its 200 day moving average is $48.69.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in EVLN. Bank of America Corp DE purchased a new stake in Eaton Vance Floating Rate ETF in the second quarter valued at approximately $9,840,000. Sanctuary Advisors LLC acquired a new position in Eaton Vance Floating Rate ETF during the second quarter valued at $113,000. Northwestern Mutual Wealth Management Co. purchased a new stake in Eaton Vance Floating Rate ETF in the second quarter valued at $2,149,000. Landscape Capital Management L.L.C. purchased a new position in shares of Eaton Vance Floating Rate ETF during the 2nd quarter valued at about $453,000. Finally, Fund Advisors of America Inc FL purchased a new stake in shares of Eaton Vance Floating Rate ETF in the second quarter worth about $162,000.

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.