Short Interest in Eaton Vance Floating-Rate Income Trust (NYSE:EFT) Grows By 243.1%

Eaton Vance Floating-Rate Income Trust (NYSE:EFT) was the target of a large increase in short interest in May. As of May 15th, there was short interest totaling 230,498 shares, an increase of 243.1% from the April 30th total of 67,174 shares. Based on an average trading volume of 115,188 shares, the short-interest ratio is currently 2.0 days.

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

Institutional investors have recently added to or reduced their stakes in the company. Gould Capital LLC lifted its holdings in Eaton Vance Floating-Rate Income Trust by 93.7% during the 4th quarter. Gould Capital LLC now owns 2,812 shares of the investment management company’s stock valued at $32,000 after purchasing an additional 1,360 shares during the last quarter. Bard Associates Inc. bought a new position in Eaton Vance Floating-Rate Income Trust during the 4th quarter valued at about $56,000. Advisory Services Network LLC bought a new position in Eaton Vance Floating-Rate Income Trust during the 3rd quarter valued at about $69,000. Comerica Bank lifted its holdings in Eaton Vance Floating-Rate Income Trust by 12.4% during the 3rd 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 last quarter. Finally, Fifth Third Bancorp bought a new position in Eaton Vance Floating-Rate Income Trust during the 1st quarter valued at about $124,000.

Eaton Vance Floating-Rate Income Trust Price Performance

Shares of Eaton Vance Floating-Rate Income Trust stock traded down $0.01 during trading on Friday, hitting $10.91. 103,504 shares of the company’s stock traded hands, compared to its average volume of 121,661. The firm’s fifty day moving average price is $10.80 and its 200 day moving average price is $11.11. Eaton Vance Floating-Rate Income Trust has a twelve month low of $10.34 and a twelve month high of $12.67.

Eaton Vance Floating-Rate Income Trust Increases Dividend

The firm also recently announced a monthly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were given 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. The ex-dividend date was Friday, May 15th. This represents a c) annualized dividend and a dividend yield of 7.7%.

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.