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

Shares of Eaton Vance Floating Rate ETF (NYSEARCA:EVLN) saw an uptick in trading volume on Friday . 237,518 shares changed hands during trading, an increase of 235% from the previous session’s volume of 70,962 shares.The stock last traded at $48.67 and had previously closed at $48.58.

Eaton Vance Floating Rate ETF Trading Up 0.3%

The company’s fifty day moving average price is $48.70 and its 200 day moving average price is $48.75.

Hedge Funds Weigh In On Eaton Vance Floating Rate ETF

A number of hedge funds have recently added to or reduced their stakes in the stock. Oxbow Advisors LLC acquired a new position in Eaton Vance Floating Rate ETF in the 2nd quarter valued at $122,000. HBK Sorce Advisory LLC bought a new position in shares of Eaton Vance Floating Rate ETF in the second quarter worth $206,000. Flow Traders U.S. LLC bought a new position in shares of Eaton Vance Floating Rate ETF in the third quarter worth $1,174,000. Eldridge Investment Advisors Inc. raised its stake in Eaton Vance Floating Rate ETF by 0.6% in the fourth quarter. Eldridge Investment Advisors Inc. now owns 189,982 shares of the company’s stock valued at $9,399,000 after purchasing an additional 1,102 shares in the last quarter. Finally, Ameriprise Financial Inc. acquired a new position in Eaton Vance Floating Rate ETF in the third quarter valued at about $27,435,000.

About Eaton Vance Floating Rate ETF

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.