Eaton Vance Floating Rate ETF (NYSEARCA:EVLN) Sees Unusually-High Trading Volume – Here’s Why

Eaton Vance Floating Rate ETF (NYSEARCA:EVLN) saw unusually-strong trading volume on Wednesday . Approximately 423,123 shares traded hands during mid-day trading, an increase of 412% from the previous session’s volume of 82,640 shares.The stock last traded at $48.8310 and had previously closed at $48.86.

Eaton Vance Floating Rate ETF Price Performance

The company has a 50 day simple moving average of $48.75 and a 200-day simple moving average of $48.69.

Institutional Investors Weigh In On Eaton Vance Floating Rate ETF

Several large investors have recently added to or reduced their stakes in the company. Bank of America Corp DE bought a new stake in Eaton Vance Floating Rate ETF in the 2nd quarter valued at about $9,840,000. Northwestern Mutual Wealth Management Co. bought a new position in Eaton Vance Floating Rate ETF during the second quarter worth about $2,149,000. Eldridge Investment Advisors Inc. boosted its position in 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 worth $9,399,000 after purchasing an additional 1,102 shares during the period. Keating Financial Advisory Services Inc. purchased a new position in shares of Eaton Vance Floating Rate ETF in the second quarter worth about $1,149,000. Finally, Altman Advisors Inc. purchased a new position in shares of Eaton Vance Floating Rate ETF in the second quarter worth about $442,000.

Eaton Vance Floating Rate ETF Company Profile

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.