Eaton Vance Senior Floating-Rate Trust (NYSE:EFR) Short Interest Up 2,916.2% in June

Eaton Vance Senior Floating-Rate Trust (NYSE:EFR) was the recipient of a significant growth in short interest in the month of June. As of June 15th, there was short interest totaling 116,333 shares, a growth of 2,916.2% from the May 31st total of 3,857 shares. Based on an average daily volume of 134,841 shares, the short-interest ratio is presently 0.9 days.

Eaton Vance Senior Floating-Rate Trust Stock Performance

Shares of EFR opened at $10.54 on Friday. The firm’s 50-day moving average is $10.51 and its two-hundred day moving average is $10.75. Eaton Vance Senior Floating-Rate Trust has a twelve month low of $10.11 and a twelve month high of $12.21.

Eaton Vance Senior Floating-Rate Trust Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a dividend of $0.066 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a c) annualized dividend and a dividend yield of 7.5%.

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

Several hedge funds have recently bought and sold shares of EFR. NewEdge Advisors LLC boosted its position in Eaton Vance Senior Floating-Rate Trust by 15.2% during the first quarter. NewEdge Advisors LLC now owns 15,117 shares of the company’s stock worth $159,000 after purchasing an additional 1,991 shares in the last quarter. Bank of America Corp DE increased its position in shares of Eaton Vance Senior Floating-Rate Trust by 8.6% in the first quarter. Bank of America Corp DE now owns 481,794 shares of the company’s stock valued at $5,078,000 after buying an additional 38,244 shares in the last quarter. Saba Capital Management L.P. purchased a new position in shares of Eaton Vance Senior Floating-Rate Trust in the first quarter valued at $2,759,000. Icon Advisers Inc. Co. raised its stake in shares of Eaton Vance Senior Floating-Rate Trust by 117.7% during the 1st quarter. Icon Advisers Inc. Co. now owns 108,870 shares of the company’s stock worth $1,147,000 after buying an additional 58,870 shares during the last quarter. Finally, Simon Quick Advisors LLC acquired a new position in shares of Eaton Vance Senior Floating-Rate Trust during the 1st quarter worth $404,000.

About Eaton Vance Senior Floating-Rate Trust

Eaton Vance Senior Floating-Rate Trust (NYSE:EFR) is a closed-end management investment company that seeks to provide a high level of current income, with capital appreciation as a secondary objective. The trust achieves its objectives by investing predominately in senior floating-rate loans—also known as bank loans—issued by corporate borrowers. These floating-rate instruments typically carry interest rates that reset periodically, offering investors a degree of protection against rising rate environments.

The portfolio is managed by the fixed-income team at Eaton Vance Management, a subsidiary of Morgan Stanley, which employs fundamental credit research and active trading strategies to identify and manage risk.