Eaton Vance Floating Rate ETF (NYSEARCA:EVLN) Sees Strong Trading Volume – Should You Buy?

Eaton Vance Floating Rate ETF (NYSEARCA:EVLN) saw unusually-strong trading volume on Monday . Approximately 161,734 shares were traded during mid-day trading, an increase of 109% from the previous session’s volume of 77,405 shares.The stock last traded at $48.95 and had previously closed at $48.90.

Eaton Vance Floating Rate ETF Stock Performance

The stock’s fifty day moving average price is $48.51 and its two-hundred day moving average price is $49.14.

Institutional Investors Weigh In On Eaton Vance Floating Rate ETF

Several institutional investors and hedge funds have recently bought and sold shares of the business. Ameriprise Financial Inc. bought a new stake in shares of Eaton Vance Floating Rate ETF in the 3rd quarter worth approximately $27,435,000. Flow Traders U.S. LLC bought a new position in shares of Eaton Vance Floating Rate ETF during the third quarter valued at approximately $1,174,000. Finally, Eldridge Investment Advisors Inc. raised its holdings in shares of Eaton Vance Floating Rate ETF by 0.6% during the fourth quarter. Eldridge Investment Advisors Inc. now owns 189,982 shares of the company’s stock valued at $9,399,000 after acquiring an additional 1,102 shares in the last quarter.

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.