Eaton Vance Floating Rate ETF (NYSEARCA:EVLN) Sees Large Volume Increase – Still a Buy?

Shares of Eaton Vance Floating Rate ETF (NYSEARCA:EVLN) saw strong trading volume on Wednesday . Approximately 423,123 shares were traded during trading, an increase of 412% from the previous session’s volume of 82,640 shares.The stock last traded at $48.8310 and had previously closed at $48.86.

Eaton Vance Floating Rate ETF Stock Performance

The firm has a 50 day simple moving average of $48.75 and a two-hundred day simple moving average of $48.69.

Institutional Trading of Eaton Vance Floating Rate ETF

Several institutional investors and hedge funds have recently made changes to their positions in EVLN. Bank of America Corp DE purchased a new position in Eaton Vance Floating Rate ETF during the second quarter worth about $9,840,000. Eldridge Investment Advisors Inc. increased its stake in 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 valued at $9,399,000 after buying an additional 1,102 shares during the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in shares of Eaton Vance Floating Rate ETF during the 2nd quarter worth approximately $2,149,000. Keating Financial Advisory Services Inc. bought a new position in shares of Eaton Vance Floating Rate ETF during the 2nd quarter worth approximately $1,149,000. Finally, Landscape Capital Management L.L.C. purchased a new position in shares of Eaton Vance Floating Rate ETF in the 2nd quarter worth approximately $453,000.

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.