Eaton Vance Senior Floating-Rate Trust (NYSE:EFR) Stock Price Up 0.2% – What’s Next?

Eaton Vance Senior Floating-Rate Trust (NYSE:EFR)’s share price rose 0.2% during mid-day trading on Wednesday. The company traded as high as $10.15 and last traded at $10.13. 101,521 shares traded hands during mid-day trading, a decline of 21% from the average daily volume of 129,174 shares. The stock had previously closed at $10.11.

Eaton Vance Senior Floating-Rate Trust Stock Performance

The stock’s 50-day moving average price is $10.33 and its 200-day moving average price is $10.57.

Eaton Vance Senior Floating-Rate 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 $0.0670 dividend. This represents a $0.80 annualized dividend and a yield of 7.9%. The ex-dividend date of this dividend is Thursday, October 15th. This is a decrease from Eaton Vance Senior Floating-Rate Trust’s previous monthly dividend of $0.0690.

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

Large investors have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. increased its position in Eaton Vance Senior Floating-Rate Trust by 642.3% during the second quarter. Envestnet Asset Management Inc. now owns 132,565 shares of the company’s stock worth $1,405,000 after buying an additional 114,707 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new stake in Eaton Vance Senior Floating-Rate Trust in the second quarter valued at approximately $55,000. Baird Financial Group Inc. increased its holdings in shares of Eaton Vance Senior Floating-Rate Trust by 23.3% during the 2nd quarter. Baird Financial Group Inc. now owns 309,856 shares of the company’s stock worth $3,284,000 after buying an additional 58,580 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Eaton Vance Senior Floating-Rate Trust by 10.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 202,768 shares of the company’s stock worth $2,149,000 after acquiring an additional 18,813 shares during the last quarter. Finally, Almitas Capital LLC raised its holdings in Eaton Vance Senior Floating-Rate Trust by 9.3% in the second quarter. Almitas Capital LLC now owns 54,393 shares of the company’s stock valued at $577,000 after buying an additional 4,611 shares during the period.

About Eaton Vance Senior Floating-Rate Trust

Eaton Vance Senior Floating-Rate Trust (NYSE:EFR) is a closed-end management investment company designed to provide investors with current income and, to a lesser extent, capital appreciation. The trust is managed by Eaton Vance Management, an investment management firm affiliated with Morgan Stanley.

EFR invests primarily in senior secured, floating-rate loans and other floating-rate debt instruments issued by corporate borrowers. These loans are generally below investment grade and may include obligations arranged by banks and other financial institutions.