Eaton Vance Floating-Rate Income Trust (NYSE:EFT) Shares Shorted: Short Interest Up 299.0% in September

Eaton Vance Floating-Rate Income Trust (NYSE:EFT) was the target of a large increase in short interest during the month of September. As of September 30th, there was short interest totaling 29,283 shares, an increase of 299.0% from the September 15th total of 7,339 shares. Based on an average daily volume of 158,589 shares, the days-to-cover ratio is presently 0.2 days.

Eaton Vance Floating-Rate Income Trust Trading Down 0.4%

Shares of NYSE:EFT traded down $0.04 during trading on Monday, hitting $10.61. The stock had a trading volume of 75,987 shares, compared to its average volume of 111,955. Eaton Vance Floating-Rate Income Trust has a 12-month low of $10.31 and a 12-month high of $11.89. The stock has a 50-day simple moving average of $10.65 and a two-hundred day simple moving average of $10.73.

Eaton Vance Floating-Rate Income Trust Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, October 30th. Stockholders of record on Thursday, October 15th will be paid a $0.07 dividend. The ex-dividend date is Thursday, October 15th. This is a decrease 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 7.9%.

Hedge Funds Weigh In On Eaton Vance Floating-Rate Income Trust

A number of institutional investors have recently modified their holdings of EFT. 1607 Capital Partners LLC lifted its stake in shares of Eaton Vance Floating-Rate Income Trust by 994.3% in the 4th quarter. 1607 Capital Partners LLC now owns 799,921 shares of the investment management company’s stock valued at $9,031,000 after purchasing an additional 726,821 shares during the period. Bank of America Corp DE grew its position in Eaton Vance Floating-Rate Income Trust by 19.2% during the first quarter. Bank of America Corp DE now owns 839,629 shares of the investment management company’s stock valued at $9,009,000 after buying an additional 135,373 shares during the period. Baird Financial Group Inc. grew its position in 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 buying an additional 78,334 shares during the period. Hennion & Walsh Asset Management Inc. increased its holdings in Eaton Vance Floating-Rate Income Trust by 16.4% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 300,586 shares of the investment management company’s stock valued at $3,246,000 after buying an additional 42,408 shares in the last quarter. Finally, Landscape Capital Management L.L.C. increased its holdings in Eaton Vance Floating-Rate Income Trust by 32.2% in the fourth quarter. Landscape Capital Management L.L.C. now owns 128,820 shares of the investment management company’s stock valued at $1,454,000 after buying an additional 31,398 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.