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

Shares of Eaton Vance Floating Rate ETF (NYSEARCA:EVLN) saw an uptick in trading volume on Monday . 198,060 shares changed hands during trading, an increase of 195% from the previous session’s volume of 67,143 shares.The stock last traded at $48.72 and had previously closed at $48.68.

Eaton Vance Floating Rate ETF Stock Performance

The business has a 50-day moving average price of $48.50 and a two-hundred day moving average price of $49.15.

Institutional Investors Weigh In On Eaton Vance Floating Rate ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EVLN. Ameriprise Financial Inc. bought a new stake in Eaton Vance Floating Rate ETF in the third quarter valued at about $27,435,000. Flow Traders U.S. LLC bought a new stake in Eaton Vance Floating Rate ETF in the third quarter valued at about $1,174,000. Finally, Eldridge Investment Advisors Inc. increased its holdings in Eaton Vance Floating Rate ETF by 0.6% in the fourth quarter. Eldridge Investment Advisors Inc. now owns 189,982 shares of the company’s stock valued at $9,399,000 after purchasing an additional 1,102 shares during 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.