Eaton Vance Floating-Rate Income Trust (NYSE:EFT) Share Price Breaks Above Fifty Day Moving Average – Here’s What Happened

Eaton Vance Floating-Rate Income Trust (NYSE:EFT) shares passed above its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $10.58 and traded as high as $10.67. Eaton Vance Floating-Rate Income Trust shares last traded at $10.66, with a volume of 29,875 shares changing hands.

Eaton Vance Floating-Rate Income Trust Price Performance

The stock has a 50 day simple moving average of $10.58 and a 200 day simple moving average of $10.80.

Eaton Vance Floating-Rate Income Trust Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, November 30th. Investors of record on Monday, November 16th will be given a dividend of $0.0710 per share. This represents a $0.85 annualized dividend and a yield of 8.0%. This is a positive change from Eaton Vance Floating-Rate Income Trust’s previous monthly dividend of $0.07. The ex-dividend date of this dividend is Monday, November 16th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. CoreCap Advisors LLC grew its stake in Eaton Vance Floating-Rate Income Trust by 100.0% during the second quarter. CoreCap Advisors LLC now owns 2,600 shares of the investment management company’s stock valued at $28,000 after acquiring an additional 1,300 shares in the last quarter. Sigma Planning Corp lifted its stake in shares of Eaton Vance Floating-Rate Income Trust by 14.1% during the third quarter. Sigma Planning Corp now owns 11,505 shares of the investment management company’s stock valued at $123,000 after buying an additional 1,418 shares during the period. Fifth Third Bancorp acquired a new stake in Eaton Vance Floating-Rate Income Trust in the first quarter worth about $124,000. Kestra Advisory Services LLC bought a new position in Eaton Vance Floating-Rate Income Trust in the first quarter worth $145,000. Finally, Integrated Capital Management Inc. bought a new position in shares of Eaton Vance Floating-Rate Income Trust during the 3rd quarter worth approximately $201,000.

Eaton Vance Floating-Rate Income Trust Company Profile

Eaton Vance Floating-Rate Income Trust is a closed-end investment company listed on the New York Stock Exchange under the symbol EFT. The fund seeks to provide a high level of current income, with capital appreciation as a secondary objective.

The trust invests primarily in floating-rate loans and other floating-rate debt instruments, including senior secured loans issued by companies. These investments generally have interest rates that adjust periodically, which can help reduce sensitivity to changes in prevailing interest rates compared with fixed-rate bonds.