Eaton Vance Floating Rate ETF (NYSEARCA:EVLN) Sees Significant Decrease in Short Interest

Eaton Vance Floating Rate ETF (NYSEARCA:EVLN) saw a significant drop in short interest in May. As of May 29th, there was short interest totaling 260,437 shares, a drop of 38.6% from the May 14th total of 424,199 shares. Currently, 1.0% of the shares of the stock are short sold. Based on an average trading volume of 35,181 shares, the short-interest ratio is currently 7.4 days.

Hedge Funds Weigh In On Eaton Vance Floating Rate ETF

A number of institutional investors and hedge funds have recently made changes to their positions in EVLN. Flow Traders U.S. LLC purchased a new position in shares of Eaton Vance Floating Rate ETF in the 3rd quarter worth $1,174,000. Eldridge Investment Advisors Inc. grew its stake in shares of Eaton Vance Floating Rate ETF by 0.6% in the 4th quarter. Eldridge Investment Advisors Inc. now owns 189,982 shares of the company’s stock worth $9,399,000 after buying an additional 1,102 shares in the last quarter. Finally, Ameriprise Financial Inc. purchased a new position in shares of Eaton Vance Floating Rate ETF in the 3rd quarter worth $27,435,000.

Eaton Vance Floating Rate ETF Stock Performance

EVLN traded up $0.06 during trading on Tuesday, hitting $48.84. 13,033 shares of the company traded hands, compared to its average volume of 72,742. Eaton Vance Floating Rate ETF has a 1 year low of $48.08 and a 1 year high of $50.28. The stock’s 50-day simple moving average is $48.75 and its two-hundred day simple moving average is $48.99.

Eaton Vance Floating Rate ETF Company Profile

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.