Eaton Vance Senior Floating-Rate Trust (NYSE:EFR) Sees Significant Drop in Short Interest

Eaton Vance Senior Floating-Rate Trust (NYSE:EFR) was the target of a large drop in short interest in the month of October. As of October 15th, there was short interest totalling 110,200 shares, a drop of 8.8% from the September 30th total of 120,800 shares. Based on an average daily trading volume, of 88,200 shares, the days-to-cover ratio is presently 1.2 days.

Institutional Trading of Eaton Vance Senior Floating-Rate Trust

Hedge funds have recently added to or reduced their stakes in the business. Cambridge Investment Research Advisors Inc. raised its stake in shares of Eaton Vance Senior Floating-Rate Trust by 93.7% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 526,315 shares of the company’s stock valued at $6,884,000 after purchasing an additional 254,596 shares during the period. Advisors Asset Management Inc. raised its stake in shares of Eaton Vance Senior Floating-Rate Trust by 8.9% in the 1st quarter. Advisors Asset Management Inc. now owns 309,561 shares of the company’s stock valued at $4,034,000 after purchasing an additional 25,307 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in shares of Eaton Vance Senior Floating-Rate Trust by 13.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 120,652 shares of the company’s stock valued at $1,578,000 after purchasing an additional 14,363 shares during the period. Verity Asset Management Inc. raised its stake in shares of Eaton Vance Senior Floating-Rate Trust by 1.1% in the 1st quarter. Verity Asset Management Inc. now owns 109,367 shares of the company’s stock valued at $1,425,000 after purchasing an additional 1,223 shares during the period. Finally, Financial Advocates Investment Management raised its stake in shares of Eaton Vance Senior Floating-Rate Trust by 1.3% in the 2nd quarter. Financial Advocates Investment Management now owns 96,914 shares of the company’s stock valued at $1,268,000 after purchasing an additional 1,225 shares during the period.

Eaton Vance Senior Floating-Rate Trust Stock Performance

Eaton Vance Senior Floating-Rate Trust stock traded up $0.03 during mid-day trading on Thursday, hitting $12.77. 55,126 shares of the company’s stock were exchanged, compared to its average volume of 90,598. Eaton Vance Senior Floating-Rate Trust has a fifty-two week low of $11.48 and a fifty-two week high of $13.40. The company’s 50 day simple moving average is $12.72 and its 200-day simple moving average is $12.95.

Eaton Vance Senior Floating-Rate Trust Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, October 31st. Investors of record on Wednesday, October 23rd will be paid a dividend of $0.104 per share. This represents a $1.25 annualized dividend and a yield of 9.77%. The ex-dividend date of this dividend is Wednesday, October 23rd.

Eaton Vance Senior Floating-Rate Trust Company Profile

Eaton Vance Senior Floating-Rate Trust is a closed-ended fixed income mutual fund launched and managed by Eaton Vance Management. The fund invests in the fixed income markets of the United States. It primarily invests in senior, secured floating rate loans. It benchmarks the performance of its portfolio against the S&P/LSTA Leveraged Loan Index.