Eaton Vance Senior Floating-Rate Trust (NYSE:EFR) Short Interest Down 64.8% in May

Eaton Vance Senior Floating-Rate Trust (NYSE:EFR) was the target of a significant drop in short interest in May. As of May 15th, there was short interest totaling 3,343 shares, a drop of 64.8% from the April 30th total of 9,500 shares. Based on an average daily trading volume, of 123,605 shares, the days-to-cover ratio is presently 0.0 days.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Fortitude Advisory Group L.L.C. grew its position in Eaton Vance Senior Floating-Rate Trust by 6.8% in the 3rd quarter. Fortitude Advisory Group L.L.C. now owns 19,879 shares of the company’s stock worth $227,000 after purchasing an additional 1,266 shares during the last quarter. NewEdge Advisors LLC increased its stake in shares of Eaton Vance Senior Floating-Rate Trust by 15.2% in the first quarter. NewEdge Advisors LLC now owns 15,117 shares of the company’s stock valued at $159,000 after purchasing an additional 1,991 shares during the period. Oppenheimer & Co. Inc. raised its holdings in shares of Eaton Vance Senior Floating-Rate Trust by 8.9% during the fourth quarter. Oppenheimer & Co. Inc. now owns 38,343 shares of the company’s stock valued at $427,000 after buying an additional 3,141 shares during the last quarter. Verity Asset Management Inc. grew its holdings in Eaton Vance Senior Floating-Rate Trust by 2.7% in the 3rd quarter. Verity Asset Management Inc. now owns 128,561 shares of the company’s stock worth $1,471,000 after buying an additional 3,331 shares in the last quarter. Finally, Garner Asset Management Corp grew its stake in shares of Eaton Vance Senior Floating-Rate Trust by 6.8% in the third quarter. Garner Asset Management Corp now owns 61,598 shares of the company’s stock worth $716,000 after purchasing an additional 3,926 shares in the last quarter.

Eaton Vance Senior Floating-Rate Trust Stock Performance

Eaton Vance Senior Floating-Rate Trust stock traded down $0.03 during midday trading on Friday, hitting $10.52. 120,825 shares of the company were exchanged, compared to its average volume of 142,539. Eaton Vance Senior Floating-Rate Trust has a fifty-two week low of $10.11 and a fifty-two week high of $12.21. The company’s fifty day moving average price is $10.47 and its 200-day moving average price is $10.83.

Eaton Vance Senior Floating-Rate Trust Cuts Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were issued a $0.067 dividend. The ex-dividend date was Friday, May 15th. This represents a c) dividend on an annualized basis and a yield of 7.6%.

Eaton Vance Senior Floating-Rate Trust Company Profile

Eaton Vance Senior Floating-Rate Trust (NYSE:EFR) is a closed-end management investment company that seeks to provide a high level of current income, with capital appreciation as a secondary objective. The trust achieves its objectives by investing predominately in senior floating-rate loans—also known as bank loans—issued by corporate borrowers. These floating-rate instruments typically carry interest rates that reset periodically, offering investors a degree of protection against rising rate environments.

The portfolio is managed by the fixed-income team at Eaton Vance Management, a subsidiary of Morgan Stanley, which employs fundamental credit research and active trading strategies to identify and manage risk.