Eaton Vance Floating Rate ETF (NYSEARCA:EVLN) Sees Strong Trading Volume – Time to Buy?

Shares of Eaton Vance Floating Rate ETF (NYSEARCA:EVLN) saw an uptick in trading volume on Monday . Approximately 629,580 shares were traded during trading, an increase of 831% from the previous session’s volume of 67,619 shares.The stock last traded at $48.79 and had previously closed at $48.72.

Eaton Vance Floating Rate ETF Price Performance

The company has a 50-day moving average price of $48.79 and a two-hundred day moving average price of $48.83.

Hedge Funds Weigh In On Eaton Vance Floating Rate ETF

A number of large investors have recently modified their holdings of the company. Ameriprise Financial Inc. bought a new stake in shares of Eaton Vance Floating Rate ETF in the 3rd quarter valued at about $27,435,000. Eldridge Investment Advisors Inc. boosted its stake in shares of Eaton Vance Floating Rate ETF by 0.6% during the fourth quarter. Eldridge Investment Advisors Inc. now owns 189,982 shares of the company’s stock valued at $9,399,000 after purchasing an additional 1,102 shares during the period. Finally, Flow Traders U.S. LLC purchased a new stake in shares of Eaton Vance Floating Rate ETF during the third quarter valued at approximately $1,174,000.

Eaton Vance Floating Rate ETF Company Profile

The Eaton Vance Floating-Rate ETF (EVLN) is an exchange-traded fund that mostly invests in high yield fixed income. The fund is actively managed, seeking high current income by holding sub-investment grade floating-rate loans and corporate debts issued globally. EVLN was launched on Feb 6, 2024 and is issued by Eaton Vance.