Eaton Vance Floating-Rate Income Trust (NYSE:EFT) Stock Passes Above 200-Day Moving Average – What’s Next?

Eaton Vance Floating-Rate Income Trust (NYSE:EFT) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $10.87 and traded as high as $10.89. Eaton Vance Floating-Rate Income Trust shares last traded at $10.8750, with a volume of 77,169 shares changing hands.

Eaton Vance Floating-Rate Income Trust Price Performance

The business’s fifty day moving average is $10.73 and its two-hundred day moving average is $10.87.

Eaton Vance Floating-Rate Income Trust Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 14th will be issued a $0.068 dividend. This is a boost from Eaton Vance Floating-Rate Income Trust’s previous monthly dividend of $0.07. The ex-dividend date is Friday, August 14th. This represents a c) dividend on an annualized basis and a dividend yield of 7.5%.

Institutional Investors Weigh In On Eaton Vance Floating-Rate Income Trust

Large investors have recently added to or reduced their stakes in the stock. Invesco Ltd. boosted its holdings in shares of Eaton Vance Floating-Rate Income Trust by 22.7% in the 2nd quarter. Invesco Ltd. now owns 503,658 shares of the investment management company’s stock worth $6,286,000 after purchasing an additional 93,272 shares during the period. NewEdge Advisors LLC boosted its stake in Eaton Vance Floating-Rate Income Trust by 6,028.1% during the second quarter. NewEdge Advisors LLC now owns 122,562 shares of the investment management company’s stock worth $1,530,000 after buying an additional 120,562 shares during the period. Raymond James Financial Inc. boosted its stake in Eaton Vance Floating-Rate Income Trust by 8.3% during the second quarter. Raymond James Financial Inc. now owns 830,163 shares of the investment management company’s stock worth $10,360,000 after buying an additional 63,716 shares during the period. Jane Street Group LLC bought a new position in Eaton Vance Floating-Rate Income Trust during the second quarter valued at $218,000. Finally, Ameriprise Financial Inc. raised its stake in shares of Eaton Vance Floating-Rate Income Trust by 29.0% in the second quarter. Ameriprise Financial Inc. now owns 44,684 shares of the investment management company’s stock valued at $558,000 after acquiring an additional 10,032 shares during the period.

Eaton Vance Floating-Rate Income Trust Company Profile

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.