Eaton Vance Floating-Rate Income Trust (NYSE:EFT) Sees Significant Growth in Short Interest

Eaton Vance Floating-Rate Income Trust (NYSE:EFT) was the target of a large increase in short interest in the month of March. As of March 13th, there was short interest totaling 90,877 shares, an increase of 84.8% from the February 26th total of 49,180 shares. Based on an average trading volume of 154,915 shares, the short-interest ratio is presently 0.6 days.

Eaton Vance Floating-Rate Income Trust Stock Down 2.0%

Shares of NYSE:EFT traded down $0.22 during midday trading on Friday, reaching $10.39. The company’s stock had a trading volume of 134,346 shares, compared to its average volume of 133,038. The stock has a fifty day moving average of $11.09 and a 200 day moving average of $11.38. Eaton Vance Floating-Rate Income Trust has a twelve month low of $10.35 and a twelve month high of $12.67.

Eaton Vance Floating-Rate Income Trust Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be given a dividend of $0.073 per share. This represents a c) annualized dividend and a yield of 8.4%. The ex-dividend date of this dividend is Monday, March 16th.

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

Institutional investors and hedge funds have recently modified their holdings of the stock. Advisors Asset Management Inc. raised its position in Eaton Vance Floating-Rate Income Trust by 8.7% during the third quarter. Advisors Asset Management Inc. now owns 562,942 shares of the investment management company’s stock valued at $6,626,000 after acquiring an additional 45,242 shares in the last quarter. Wolverine Asset Management LLC boosted its position in Eaton Vance Floating-Rate Income Trust by 71.2% in the 3rd quarter. Wolverine Asset Management LLC now owns 118,915 shares of the investment management company’s stock worth $1,400,000 after purchasing an additional 49,461 shares in the last quarter. 1607 Capital Partners LLC acquired a new stake in shares of Eaton Vance Floating-Rate Income Trust during the 3rd quarter worth approximately $860,000. Readystate Asset Management LP grew its stake in shares of Eaton Vance Floating-Rate Income Trust by 271.2% during the 3rd quarter. Readystate Asset Management LP now owns 140,990 shares of the investment management company’s stock worth $1,659,000 after purchasing an additional 103,012 shares during the period. Finally, Garner Asset Management Corp increased its holdings in shares of Eaton Vance Floating-Rate Income Trust by 9.7% during the 3rd quarter. Garner Asset Management Corp now owns 65,289 shares of the investment management company’s stock valued at $768,000 after purchasing an additional 5,746 shares in the last quarter.

Eaton Vance Floating-Rate Income Trust Company Profile

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.