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

Eaton Vance Floating-Rate Income Trust (NYSE:EFT) saw a large growth in short interest during the month of September. As of September 30th, there was short interest totaling 29,283 shares, a growth of 299.0% from the September 15th total of 7,339 shares. Based on an average daily volume of 158,589 shares, the short-interest ratio is presently 0.2 days.

Institutional Trading of Eaton Vance Floating-Rate Income Trust

A number of hedge funds have recently bought and sold shares of EFT. Integrated Capital Management Inc. acquired a new position in Eaton Vance Floating-Rate Income Trust in the 3rd quarter valued at $201,000. Baird Financial Group Inc. boosted its holdings in shares of Eaton Vance Floating-Rate Income Trust by 59.4% during the second quarter. Baird Financial Group Inc. now owns 210,222 shares of the investment management company’s stock worth $2,270,000 after purchasing an additional 78,334 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Eaton Vance Floating-Rate Income Trust by 16.4% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 300,586 shares of the investment management company’s stock worth $3,246,000 after purchasing an additional 42,408 shares during the last quarter. Dynamic Advisor Solutions LLC grew its position in shares of Eaton Vance Floating-Rate Income Trust by 12.2% in the second quarter. Dynamic Advisor Solutions LLC now owns 21,520 shares of the investment management company’s stock valued at $232,000 after purchasing an additional 2,342 shares during the period. Finally, CoreCap Advisors LLC grew its position in shares of Eaton Vance Floating-Rate Income Trust by 100.0% in the second quarter. CoreCap Advisors LLC now owns 2,600 shares of the investment management company’s stock valued at $28,000 after purchasing an additional 1,300 shares during the period.

Eaton Vance Floating-Rate Income Trust Price Performance

Shares of Eaton Vance Floating-Rate Income Trust stock traded up $0.07 during mid-day trading on Friday, hitting $10.68. 98,233 shares of the stock were exchanged, compared to its average volume of 112,140. Eaton Vance Floating-Rate Income Trust has a twelve month low of $10.31 and a twelve month high of $11.89. The company has a 50-day simple moving average of $10.65 and a 200 day simple moving average of $10.73.

Eaton Vance Floating-Rate Income Trust Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, October 30th. Investors of record on Thursday, October 15th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, October 15th. This is a negative change from Eaton Vance Floating-Rate Income Trust’s previous monthly dividend of $0.0710. This represents a $0.84 annualized dividend and a dividend yield of 7.9%.

Eaton Vance Floating-Rate Income Trust Company Profile

Eaton Vance Floating-Rate Income Trust (NYSE:EFT) is a closed-end investment fund managed by Eaton Vance Management, an investment-management subsidiary of Morgan Stanley Investment Management. The fund’s primary objective is to provide a high level of current income, with capital appreciation as a secondary objective.

EFT invests principally in floating-rate loans and other floating-rate debt instruments. Its portfolio may include senior secured bank loans, corporate loans and other income-producing securities, including investments issued by companies with below-investment-grade credit ratings.