Eaton Vance Floating Rate ETF (NYSEARCA:EVLN) Reaches New 52-Week Low – Time to Sell?

Eaton Vance Floating Rate ETF (NYSEARCA:EVLN)’s stock price reached a new 52-week low during mid-day trading on Wednesday. The company traded as low as $48.08 and last traded at $48.12, with a volume of 795 shares trading hands. The stock had previously closed at $48.16.

Eaton Vance Floating Rate ETF Price Performance

The company has a fifty day simple moving average of $48.66 and a two-hundred day simple moving average of $48.70.

Institutional Investors Weigh In On Eaton Vance Floating Rate ETF

A number of hedge funds have recently bought and sold shares of EVLN. Sanctuary Advisors LLC bought a new stake in Eaton Vance Floating Rate ETF in the second quarter valued at about $113,000. Oxbow Advisors LLC acquired a new position in shares of Eaton Vance Floating Rate ETF during the second quarter worth approximately $122,000. Fund Advisors of America Inc FL bought a new stake in shares of Eaton Vance Floating Rate ETF during the second quarter valued at about $162,000. HBK Sorce Advisory LLC acquired a new position in shares of Eaton Vance Floating Rate ETF during the second quarter valued at approximately $206,000. Finally, Altman Advisors Inc. bought a new position in Eaton Vance Floating Rate ETF during the second quarter valued at about $442,000.

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.