Short Interest in Eaton Vance Floating-Rate Income Trust (NYSE:EFT) Drops By 73.9%

Eaton Vance Floating-Rate Income Trust (NYSE:EFT) was the target of a significant drop in short interest in the month of August. As of August 31st, there was short interest totaling 11,214 shares, a drop of 73.9% from the August 15th total of 42,994 shares. Based on an average trading volume of 159,428 shares, the days-to-cover ratio is presently 0.1 days.

Eaton Vance Floating-Rate Income Trust Stock Up 0.3%

NYSE:EFT traded up $0.03 during trading on Friday, reaching $10.60. The company’s stock had a trading volume of 77,134 shares, compared to its average volume of 109,200. The firm has a 50 day moving average of $10.72 and a 200-day moving average of $10.77. Eaton Vance Floating-Rate Income Trust has a 12 month low of $10.34 and a 12 month high of $12.06.

Eaton Vance Floating-Rate Income Trust Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be given a dividend of $0.071 per share. The ex-dividend date is Tuesday, September 15th. This is an increase from Eaton Vance Floating-Rate Income Trust’s previous monthly dividend of $0.07. This represents a c) annualized dividend and a yield of 8.0%.

Institutional Trading of Eaton Vance Floating-Rate Income Trust

Hedge funds have recently added to or reduced their stakes in the stock. 1607 Capital Partners LLC raised its stake in Eaton Vance Floating-Rate Income Trust by 994.3% in the 4th quarter. 1607 Capital Partners LLC now owns 799,921 shares of the investment management company’s stock valued at $9,031,000 after acquiring an additional 726,821 shares during the period. Rivernorth Capital Management LLC bought a new position in Eaton Vance Floating-Rate Income Trust during the fourth quarter worth about $3,673,000. Balyasny Asset Management L.P. boosted its position in Eaton Vance Floating-Rate Income Trust by 534.0% during the fourth quarter. Balyasny Asset Management L.P. now owns 170,126 shares of the investment management company’s stock worth $1,921,000 after purchasing an additional 143,292 shares during the period. Bank of America Corp DE increased its stake in shares of Eaton Vance Floating-Rate Income Trust by 19.2% in the first quarter. Bank of America Corp DE now owns 839,629 shares of the investment management company’s stock worth $9,009,000 after purchasing an additional 135,373 shares in the last quarter. Finally, NewEdge Advisors LLC increased its stake in shares of Eaton Vance Floating-Rate Income Trust by 6,028.1% in the second quarter. NewEdge Advisors LLC now owns 122,562 shares of the investment management company’s stock worth $1,530,000 after purchasing an additional 120,562 shares in the last quarter.

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.