Eaton Vance Senior Floating-Rate Trust (NYSE:EFR) Sees Significant Decrease in Short Interest

Eaton Vance Senior Floating-Rate Trust (NYSE:EFR) was the recipient of a large drop in short interest during the month of August. As of August 14th, there was short interest totaling 41,345 shares, a drop of 51.6% from the July 30th total of 85,378 shares. Based on an average trading volume of 145,082 shares, the days-to-cover ratio is presently 0.3 days.

Eaton Vance Senior Floating-Rate Trust Stock Up 0.3%

Shares of EFR traded up $0.03 during mid-day trading on Friday, hitting $10.56. 59,850 shares of the company traded hands, compared to its average volume of 133,300. The stock has a 50-day moving average price of $10.61 and a two-hundred day moving average price of $10.57. Eaton Vance Senior Floating-Rate Trust has a 1 year low of $10.11 and a 1 year high of $11.76.

Eaton Vance Senior Floating-Rate Trust Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, August 14th will be given a $0.07 dividend. This is a boost from Eaton Vance Senior Floating-Rate Trust’s previous monthly dividend of $0.07. The ex-dividend date of this dividend is Friday, August 14th. This represents a c) dividend on an annualized basis and a yield of 8.0%.

Institutional Investors Weigh In On Eaton Vance Senior Floating-Rate Trust

A number of hedge funds have recently added to or reduced their stakes in EFR. Sanctuary Advisors LLC purchased a new position in shares of Eaton Vance Senior Floating-Rate Trust in the 1st quarter worth $112,000. Cetera Investment Advisers bought a new stake in shares of Eaton Vance Senior Floating-Rate Trust in the second quarter worth $130,000. Fifth Third Bancorp purchased a new stake in Eaton Vance Senior Floating-Rate Trust during the first quarter valued at $125,000. Comerica Bank increased its position in Eaton Vance Senior Floating-Rate Trust by 118.8% during the third quarter. Comerica Bank now owns 12,034 shares of the company’s stock valued at $138,000 after acquiring an additional 6,534 shares during the last quarter. Finally, NewEdge Advisors LLC bought a new position in Eaton Vance Senior Floating-Rate Trust in the third quarter valued at about $150,000.

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.