Eaton Vance Floating Rate ETF (NYSEARCA:EVLN) Sees Strong Trading Volume – What’s Next?

Eaton Vance Floating Rate ETF (NYSEARCA:EVLN) saw strong trading volume on Thursday . 233,365 shares changed hands during mid-day trading, an increase of 221% from the previous session’s volume of 72,765 shares.The stock last traded at $48.34 and had previously closed at $48.44.

Eaton Vance Floating Rate ETF Price Performance

The stock has a 50-day simple moving average of $48.76 and a 200-day simple moving average of $49.33.

Eaton Vance Floating Rate ETF Cuts Dividend

The firm also recently disclosed a monthly dividend, which was paid on Thursday, March 5th. Shareholders of record on Friday, February 27th were issued a $0.2424 dividend. This represents a c) dividend on an annualized basis and a yield of 6.0%. The ex-dividend date of this dividend was Friday, February 27th.

Institutional Trading of Eaton Vance Floating Rate ETF

A number of institutional investors and hedge funds have recently modified their holdings of the business. Eldridge Investment Advisors Inc. lifted its holdings in Eaton Vance Floating Rate ETF by 0.6% in the fourth quarter. Eldridge Investment Advisors Inc. now owns 189,982 shares of the company’s stock worth $9,399,000 after acquiring an additional 1,102 shares during the last quarter. Flow Traders U.S. LLC acquired a new stake in shares of Eaton Vance Floating Rate ETF during the 3rd quarter worth approximately $1,174,000. Finally, Ameriprise Financial Inc. acquired a new stake in shares of Eaton Vance Floating Rate ETF during the 3rd quarter worth approximately $27,435,000.

About Eaton Vance Floating Rate ETF

The Eaton Vance Floating-Rate ETF (EVLN) is an exchange-traded fund that mostly invests in high yield fixed income. The fund is actively managed, seeking high current income by holding sub-investment grade floating-rate loans and corporate debts issued globally. EVLN was launched on Feb 6, 2024 and is issued by Eaton Vance.