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

Eaton Vance Floating-Rate Income Trust (NYSE:EFT) was the recipient of a significant increase in short interest in the month of May. As of May 15th, there was short interest totaling 230,498 shares, an increase of 243.1% from the April 30th total of 67,174 shares. Based on an average daily volume of 115,188 shares, the days-to-cover ratio is currently 2.0 days.

Eaton Vance Floating-Rate Income Trust Price Performance

Eaton Vance Floating-Rate Income Trust stock traded down $0.02 during midday trading on Friday, reaching $10.90. The company’s stock had a trading volume of 44,437 shares, compared to its average volume of 121,046. Eaton Vance Floating-Rate Income Trust has a fifty-two week low of $10.34 and a fifty-two week high of $12.67. The stock’s 50 day simple moving average is $10.80 and its 200 day simple moving average is $11.11.

Eaton Vance Floating-Rate Income Trust Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, May 29th. Shareholders of record on Friday, May 15th will be issued a $0.07 dividend. This represents a c) dividend on an annualized basis and a yield of 7.7%. This is an increase from Eaton Vance Floating-Rate Income Trust’s previous monthly dividend of $0.07. The ex-dividend date of this dividend is Friday, May 15th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Advisors Asset Management Inc. raised its stake in Eaton Vance Floating-Rate Income Trust by 8.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 562,942 shares of the investment management company’s stock valued at $6,626,000 after purchasing an additional 45,242 shares during the last quarter. Shaker Financial Services LLC grew its holdings in Eaton Vance Floating-Rate Income Trust by 423.5% in the 4th quarter. Shaker Financial Services LLC now owns 67,012 shares of the investment management company’s stock valued at $762,000 after buying an additional 54,212 shares during the period. Wolverine Asset Management LLC grew its holdings in Eaton Vance Floating-Rate Income Trust by 77.2% in the 4th quarter. Wolverine Asset Management LLC now owns 210,659 shares of the investment management company’s stock valued at $2,378,000 after buying an additional 91,744 shares during the period. 1607 Capital Partners LLC purchased a new stake in Eaton Vance Floating-Rate Income Trust in the 3rd quarter valued at about $860,000. Finally, Readystate Asset Management LP grew its holdings in Eaton Vance Floating-Rate Income Trust by 271.2% in the 3rd quarter. Readystate Asset Management LP now owns 140,990 shares of the investment management company’s stock valued at $1,659,000 after buying an additional 103,012 shares during the period.

About Eaton Vance Floating-Rate Income Trust

Eaton Vance Floating-Rate Income Trust (NYSE: EFT) is a diversified, closed-end management investment company that seeks to provide current income with capital preservation. Originally launched in June 1988, the trust is listed on the New York Stock Exchange and offers investors access to a portfolio of floating-rate debt instruments. As a closed-end vehicle, it issues a fixed number of shares and may employ leverage to enhance income potential.

The trust’s primary investment strategy centers on senior secured floating-rate loans, often referred to as bank loans, issued by U.S.