Short Interest in Eaton Vance Floating-Rate Income Trust (NYSE:EFT) Rises By 84.8%

Eaton Vance Floating-Rate Income Trust (NYSE:EFT) was the recipient of a significant increase in short interest in the month of March. As of March 13th, there was short interest totaling 90,877 shares, an increase of 84.8% from the February 26th total of 49,180 shares. Based on an average daily volume of 154,915 shares, the short-interest ratio is presently 0.6 days.

Eaton Vance Floating-Rate Income Trust Stock Performance

NYSE EFT traded down $0.13 on Thursday, hitting $10.60. 314,845 shares of the company’s stock were exchanged, compared to its average volume of 133,016. The firm’s 50-day moving average price is $11.12 and its two-hundred day moving average price is $11.39. Eaton Vance Floating-Rate Income Trust has a fifty-two week low of $10.44 and a fifty-two week high of $12.67.

Eaton Vance Floating-Rate Income Trust Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be paid a $0.073 dividend. The ex-dividend date is Monday, March 16th. This represents a c) dividend on an annualized basis and a dividend yield of 8.3%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Gould Capital LLC lifted its holdings in Eaton Vance Floating-Rate Income Trust by 93.7% in the fourth quarter. Gould Capital LLC now owns 2,812 shares of the investment management company’s stock valued at $32,000 after acquiring an additional 1,360 shares during the period. Bard Associates Inc. acquired a new position in shares of Eaton Vance Floating-Rate Income Trust during the 4th quarter worth $56,000. MeadowBrook Investment Advisors LLC increased its holdings in shares of Eaton Vance Floating-Rate Income Trust by 33.0% in the 3rd quarter. MeadowBrook Investment Advisors LLC now owns 5,435 shares of the investment management company’s stock valued at $64,000 after purchasing an additional 1,350 shares in the last quarter. Advisory Services Network LLC purchased a new position in shares of Eaton Vance Floating-Rate Income Trust in the 3rd quarter valued at about $69,000. Finally, Comerica Bank lifted its stake in shares of Eaton Vance Floating-Rate Income Trust by 12.4% in the third 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 period.

Eaton Vance Floating-Rate Income Trust Company Profile

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.