Eaton Vance Tax-Managed Diversified Equity Income Fund (NYSE:ETY) Sees Significant Decline in Short Interest

Eaton Vance Tax-Managed Diversified Equity Income Fund (NYSE:ETY) saw a significant decline in short interest during the month of May. As of May 29th, there was short interest totaling 46,732 shares, a decline of 35.1% from the May 14th total of 72,053 shares. Based on an average trading volume of 210,271 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Merit Financial Group LLC boosted its stake in shares of Eaton Vance Tax-Managed Diversified Equity Income Fund by 13.3% during the 4th quarter. Merit Financial Group LLC now owns 147,971 shares of the investment management company’s stock worth $2,270,000 after purchasing an additional 17,337 shares during the period. Shaker Financial Services LLC purchased a new stake in Eaton Vance Tax-Managed Diversified Equity Income Fund in the 4th quarter worth about $3,209,000. U.S. Capital Wealth Advisors LLC raised its position in Eaton Vance Tax-Managed Diversified Equity Income Fund by 28.4% in the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 23,895 shares of the investment management company’s stock worth $367,000 after purchasing an additional 5,290 shares during the period. Smith Moore & CO. lifted its stake in Eaton Vance Tax-Managed Diversified Equity Income Fund by 6.4% in the fourth quarter. Smith Moore & CO. now owns 75,172 shares of the investment management company’s stock worth $1,153,000 after purchasing an additional 4,543 shares during the last quarter. Finally, Stratos Wealth Partners LTD. boosted its position in shares of Eaton Vance Tax-Managed Diversified Equity Income Fund by 14.1% during the fourth quarter. Stratos Wealth Partners LTD. now owns 20,020 shares of the investment management company’s stock valued at $307,000 after buying an additional 2,468 shares during the period.

Eaton Vance Tax-Managed Diversified Equity Income Fund Price Performance

Shares of NYSE:ETY traded down $0.12 during trading on Wednesday, hitting $14.51. The company had a trading volume of 198,355 shares, compared to its average volume of 259,792. The company has a fifty day simple moving average of $14.65 and a two-hundred day simple moving average of $14.83. Eaton Vance Tax-Managed Diversified Equity Income Fund has a one year low of $13.12 and a one year high of $16.03.

Eaton Vance Tax-Managed Diversified Equity Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be given a $0.0992 dividend. The ex-dividend date is Monday, June 15th. This represents a c) dividend on an annualized basis and a yield of 8.2%.

About Eaton Vance Tax-Managed Diversified Equity Income Fund

The Eaton Vance Tax-Managed Diversified Equity Income Fund (NYSE: ETY) is a closed-end management investment company that seeks to provide a high level of after-tax total return. Launched in December 2004, ETY is managed by investment professionals at Eaton Vance—now part of Morgan Stanley Investment Management—and employs a tax-sensitive strategy designed to minimize the distribution of capital gains to shareholders.

ETY invests primarily in a diversified portfolio of dividend-paying equity securities across a broad range of industries.