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

Eaton Vance Floating-Rate Income Trust (NYSE:EFT) was the recipient of a large drop in short interest during the month of June. As of June 30th, there was short interest totaling 43,364 shares, a drop of 49.7% from the June 15th total of 86,256 shares. Based on an average daily trading volume, of 68,524 shares, the short-interest ratio is currently 0.6 days.

Eaton Vance Floating-Rate Income Trust Stock Performance

EFT traded up $0.01 during trading on Thursday, hitting $10.72. The stock had a trading volume of 26,600 shares, compared to its average volume of 109,201. Eaton Vance Floating-Rate Income Trust has a twelve month low of $10.34 and a twelve month high of $12.62. The company’s 50-day moving average price is $10.80 and its 200 day moving average price is $10.96.

Eaton Vance Floating-Rate Income Trust Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th will be issued a $0.066 dividend. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a c) annualized dividend and a dividend yield of 7.4%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Comerica Bank lifted its stake in shares of Eaton Vance Floating-Rate Income Trust by 12.4% in the third quarter. Comerica Bank now owns 7,990 shares of the investment management company’s stock valued at $94,000 after purchasing an additional 883 shares during the period. NewEdge Advisors LLC boosted its holdings in 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 buying an additional 1,105 shares in the last quarter. Kestra Private Wealth Services LLC grew its position in 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 buying an additional 1,251 shares during the period. CoreCap Advisors LLC grew its position 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 worth $28,000 after buying an additional 1,300 shares during the period. Finally, Gould Capital LLC increased its holdings in Eaton Vance Floating-Rate Income Trust by 93.7% in the fourth quarter. Gould Capital LLC now owns 2,812 shares of the investment management company’s stock valued at $32,000 after buying an additional 1,360 shares in the last quarter.

Eaton Vance Floating-Rate Income Trust Company Profile

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.