Eaton Vance Floating Rate ETF (NYSEARCA:EVLN) Sees Unusually-High Trading Volume – Here’s Why

Shares of Eaton Vance Floating Rate ETF (NYSEARCA:EVLN) saw unusually-strong trading volume on Friday . 255,585 shares changed hands during trading, an increase of 247% from the previous session’s volume of 73,697 shares.The stock last traded at $48.82 and had previously closed at $48.78.

Eaton Vance Floating Rate ETF Price Performance

The business’s 50-day moving average price is $48.70 and its 200-day moving average price is $48.72.

Hedge Funds Weigh In On Eaton Vance Floating Rate ETF

Hedge funds have recently modified their holdings of the stock. Eldridge Investment Advisors Inc. raised 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 worth $9,399,000 after acquiring an additional 1,102 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Eaton Vance Floating Rate ETF in the second quarter worth about $113,000. Oxbow Advisors LLC purchased a new stake in Eaton Vance Floating Rate ETF in the 2nd quarter worth approximately $122,000. Fund Advisors of America Inc FL acquired a new stake in Eaton Vance Floating Rate ETF during the second quarter valued at $162,000. Finally, HBK Sorce Advisory LLC acquired a new stake in shares of Eaton Vance Floating Rate ETF during the 2nd quarter valued at about $206,000.

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.