Eaton Vance Floating-Rate Income Trust (NYSE:EFT) Share Price Passes Below Two Hundred Day Moving Average – Here’s Why

Eaton Vance Floating-Rate Income Trust (NYSE:EFT)’s share price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $11.74 and traded as low as $11.46. Eaton Vance Floating-Rate Income Trust shares last traded at $11.48, with a volume of 105,065 shares changing hands.

Eaton Vance Floating-Rate Income Trust Trading Down 0.9%

The business’s fifty day moving average price is $11.38 and its 200 day moving average price is $11.74.

Eaton Vance Floating-Rate Income Trust Increases Dividend

The firm also recently declared a monthly dividend, which was paid on Thursday, January 15th. Shareholders of record on Tuesday, December 30th were paid a dividend of $0.086 per share. This is a positive change from Eaton Vance Floating-Rate Income Trust’s previous monthly dividend of $0.08. This represents a c) dividend on an annualized basis and a yield of 9.0%. The ex-dividend date was Tuesday, December 30th.

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

A number of hedge funds have recently modified their holdings of the stock. Shaker Financial Services LLC lifted its position in shares of Eaton Vance Floating-Rate Income Trust by 423.5% during the 4th quarter. Shaker Financial Services LLC now owns 67,012 shares of the investment management company’s stock worth $762,000 after buying an additional 54,212 shares during the period. Greenberg Financial Group bought a new position in shares of Eaton Vance Floating-Rate Income Trust during the fourth quarter valued at $237,000. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Eaton Vance Floating-Rate Income Trust by 13.0% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 241,189 shares of the investment management company’s stock valued at $2,723,000 after acquiring an additional 27,835 shares during the period. Polar Asset Management Partners Inc. boosted its stake in shares of Eaton Vance Floating-Rate Income Trust by 2.2% in the 3rd quarter. Polar Asset Management Partners Inc. now owns 424,306 shares of the investment management company’s stock valued at $4,994,000 after purchasing an additional 9,251 shares in the last quarter. Finally, Advisory Services Network LLC bought a new stake in shares of Eaton Vance Floating-Rate Income Trust in the 3rd quarter worth about $69,000.

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.