Eaton Vance Senior Floating-Rate Trust (NYSE:EFR) Short Interest Update

Eaton Vance Senior Floating-Rate Trust (NYSE:EFR) was the recipient of a significant drop in short interest in June. As of June 30th, there was short interest totaling 75,040 shares, a drop of 35.5% from the June 15th total of 116,333 shares. Based on an average daily volume of 95,282 shares, the days-to-cover ratio is currently 0.8 days.

Eaton Vance Senior Floating-Rate Trust Stock Performance

Shares of Eaton Vance Senior Floating-Rate Trust stock traded down $0.07 on Friday, hitting $10.54. The stock had a trading volume of 56,539 shares, compared to its average volume of 132,043. Eaton Vance Senior Floating-Rate Trust has a twelve month low of $10.11 and a twelve month high of $12.14. The stock has a 50 day moving average of $10.53 and a 200 day moving average of $10.69.

Eaton Vance Senior Floating-Rate Trust Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, July 31st. Investors of record on Wednesday, July 15th will be paid a $0.069 dividend. This is a positive change from Eaton Vance Senior Floating-Rate Trust’s previous monthly dividend of $0.07. This represents a c) annualized dividend and a dividend yield of 7.9%. The ex-dividend date of this dividend is Wednesday, July 15th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Integrated Capital Management Inc. acquired a new stake in shares of Eaton Vance Senior Floating-Rate Trust during the second quarter worth $242,000. NewEdge Advisors LLC boosted its position in Eaton Vance Senior Floating-Rate Trust by 15.2% during the first quarter. NewEdge Advisors LLC now owns 15,117 shares of the company’s stock valued at $159,000 after acquiring an additional 1,991 shares during the last quarter. Bank of America Corp DE boosted its position in Eaton Vance Senior Floating-Rate Trust by 8.6% during the first quarter. Bank of America Corp DE now owns 481,794 shares of the company’s stock valued at $5,078,000 after acquiring an additional 38,244 shares during the last quarter. Saba Capital Management L.P. acquired a new stake in Eaton Vance Senior Floating-Rate Trust during the 1st quarter worth about $2,759,000. Finally, Icon Advisers Inc. Co. grew its holdings in Eaton Vance Senior Floating-Rate Trust by 117.7% during the 1st quarter. Icon Advisers Inc. Co. now owns 108,870 shares of the company’s stock worth $1,147,000 after acquiring an additional 58,870 shares during the period.

Eaton Vance Senior Floating-Rate Trust Company Profile

Eaton Vance Senior Floating-Rate Trust (NYSE:EFR) is a closed-end management investment company that seeks to provide a high level of current income, with capital appreciation as a secondary objective. The trust achieves its objectives by investing predominately in senior floating-rate loans—also known as bank loans—issued by corporate borrowers. These floating-rate instruments typically carry interest rates that reset periodically, offering investors a degree of protection against rising rate environments.

The portfolio is managed by the fixed-income team at Eaton Vance Management, a subsidiary of Morgan Stanley, which employs fundamental credit research and active trading strategies to identify and manage risk.