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

Eaton Vance Floating-Rate Income Trust (NYSE:EFT) was the recipient of a significant growth in short interest in the month of April. As of April 30th, there was short interest totaling 67,174 shares, a growth of 118.9% from the April 15th total of 30,690 shares. Based on an average daily volume of 109,559 shares, the short-interest ratio is presently 0.6 days.

Eaton Vance Floating-Rate Income Trust Price Performance

Shares of NYSE EFT traded down $0.09 during trading on Friday, hitting $10.92. 37,221 shares of the company traded hands, compared to its average volume of 125,759. The business’s fifty day moving average is $10.78 and its 200 day moving average is $11.15. Eaton Vance Floating-Rate Income Trust has a fifty-two week low of $10.34 and a fifty-two week high of $12.67.

Eaton Vance Floating-Rate Income Trust Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 15th will be issued a dividend of $0.07 per share. 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 dividend yield of 7.7%. The ex-dividend date is Friday, May 15th.

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

A number of institutional investors have recently modified their holdings of the company. Comerica Bank raised its position in shares of Eaton Vance Floating-Rate Income Trust by 12.4% during the third quarter. Comerica Bank now owns 7,990 shares of the investment management company’s stock worth $94,000 after purchasing an additional 883 shares during the period. NewEdge Advisors LLC raised its position in shares of Eaton Vance Floating-Rate Income Trust by 0.9% during the third quarter. NewEdge Advisors LLC now owns 123,667 shares of the investment management company’s stock worth $1,456,000 after purchasing an additional 1,105 shares during the period. Kestra Private Wealth Services LLC raised its position in shares of Eaton Vance Floating-Rate Income Trust by 10.3% during the third quarter. Kestra Private Wealth Services LLC now owns 13,416 shares of the investment management company’s stock worth $158,000 after purchasing an additional 1,251 shares during the period. MeadowBrook Investment Advisors LLC raised its position in shares of Eaton Vance Floating-Rate Income Trust by 33.0% during the third quarter. MeadowBrook Investment Advisors LLC now owns 5,435 shares of the investment management company’s stock worth $64,000 after purchasing an additional 1,350 shares during the period. Finally, Gould Capital LLC raised its position in shares of Eaton Vance Floating-Rate Income Trust by 93.7% during the fourth quarter. Gould Capital LLC now owns 2,812 shares of the investment management company’s stock worth $32,000 after purchasing an additional 1,360 shares during the period.

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.