Eaton Vance Senior Floating-Rate Trust (NYSE:EFR) Shares Climb 0.2% – Here’s What Happened

Eaton Vance Senior Floating-Rate Trust (NYSE:EFR) shares traded up 0.2% during mid-day trading on Wednesday. The company traded as high as $10.15 and last traded at $10.13. 101,521 shares traded hands during mid-day trading, a decline of 21% from the average session volume of 129,174 shares. The stock had previously closed at $10.11.

Eaton Vance Senior Floating-Rate Trust Stock Up 0.2%

The company’s 50 day moving average is $10.35 and its 200 day moving average is $10.58.

Eaton Vance Senior Floating-Rate Trust Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, October 30th. Shareholders of record on Thursday, October 15th will be issued a $0.0670 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 7.9%. This is a drop from Eaton Vance Senior Floating-Rate Trust’s previous monthly dividend of $0.0690. The ex-dividend date of this dividend is Thursday, October 15th.

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

A number of hedge funds and other institutional investors have recently modified their holdings of EFR. Icon Advisers Inc. Co. raised its stake in shares of Eaton Vance Senior Floating-Rate Trust by 117.7% during the 1st quarter. Icon Advisers Inc. Co. now owns 108,870 shares of the company’s stock worth $1,147,000 after buying an additional 58,870 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Eaton Vance Senior Floating-Rate Trust by 642.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 132,565 shares of the company’s stock worth $1,405,000 after buying an additional 114,707 shares in the last quarter. Baird Financial Group Inc. boosted its position in shares of Eaton Vance Senior Floating-Rate Trust by 23.3% in the 2nd quarter. Baird Financial Group Inc. now owns 309,856 shares of the company’s stock worth $3,284,000 after buying an additional 58,580 shares in the last quarter. Saba Capital Management L.P. acquired a new stake in Eaton Vance Senior Floating-Rate Trust in the 1st quarter valued at about $2,759,000. Finally, Independent Financial Group LLC acquired a new stake in Eaton Vance Senior Floating-Rate Trust in the 1st quarter valued at about $142,000.

Eaton Vance Senior Floating-Rate Trust Company Profile

Eaton Vance Senior Floating-Rate Trust (NYSE:EFR) is a closed-end management investment company designed to provide investors with current income and, to a lesser extent, capital appreciation. The trust is managed by Eaton Vance Management, an investment management firm affiliated with Morgan Stanley.

EFR invests primarily in senior secured, floating-rate loans and other floating-rate debt instruments issued by corporate borrowers. These loans are generally below investment grade and may include obligations arranged by banks and other financial institutions.