Eaton Vance Floating-Rate Income Trust (NYSE:EFT) Sees Large Increase in Short Interest

Eaton Vance Floating-Rate Income Trust (NYSE:EFT) was the recipient of a significant growth in short interest during the month of October. As of October 15th, there was short interest totaling 286,637 shares, a growth of 878.9% from the September 30th total of 29,283 shares. Based on an average daily volume of 115,415 shares, the short-interest ratio is currently 2.5 days.

Eaton Vance Floating-Rate Income Trust Price Performance

NYSE:EFT remained flat at $10.43 during midday trading on Monday. 72,196 shares of the company were exchanged, compared to its average volume of 111,836. The business has a 50 day moving average of $10.60 and a two-hundred day moving average of $10.84. Eaton Vance Floating-Rate Income Trust has a 52 week low of $10.31 and a 52 week high of $11.67.

Eaton Vance Floating-Rate Income Trust Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, October 30th. Shareholders of record on Thursday, October 15th will be given a $0.07 dividend. The ex-dividend date is Thursday, October 15th. This is a negative change from Eaton Vance Floating-Rate Income Trust’s previous monthly dividend of $0.0710. This represents a $0.84 dividend on an annualized basis and a dividend yield of 8.1%.

Institutional Trading of Eaton Vance Floating-Rate Income Trust

A number of institutional investors have recently modified their holdings of EFT. Park Avenue Securities LLC purchased a new stake in Eaton Vance Floating-Rate Income Trust in the 3rd quarter worth approximately $1,145,000. Sigma Planning Corp increased its stake in shares of Eaton Vance Floating-Rate Income Trust by 14.1% during the third quarter. Sigma Planning Corp now owns 11,505 shares of the investment management company’s stock valued at $123,000 after buying an additional 1,418 shares during the period. B. Riley Wealth Advisors Inc. purchased a new position in shares of Eaton Vance Floating-Rate Income Trust during the third quarter valued at approximately $849,000. Integrated Capital Management Inc. purchased a new position in shares of Eaton Vance Floating-Rate Income Trust during the third quarter valued at approximately $201,000. Finally, Baird Financial Group Inc. raised its holdings in shares of Eaton Vance Floating-Rate Income Trust by 59.4% during the second quarter. Baird Financial Group Inc. now owns 210,222 shares of the investment management company’s stock valued at $2,270,000 after acquiring an additional 78,334 shares in the last quarter.

About Eaton Vance Floating-Rate Income Trust

Eaton Vance Floating-Rate Income Trust (NYSE:EFT) is a closed-end investment fund managed by Eaton Vance Management, an investment-management subsidiary of Morgan Stanley Investment Management. The fund’s primary objective is to provide a high level of current income, with capital appreciation as a secondary objective.

EFT invests principally in floating-rate loans and other floating-rate debt instruments. Its portfolio may include senior secured bank loans, corporate loans and other income-producing securities, including investments issued by companies with below-investment-grade credit ratings.