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

Eaton Vance Floating Rate ETF (NYSEARCA:EVLN) saw an uptick in trading volume on Thursday . 430,319 shares changed hands during trading, an increase of 376% from the previous session’s volume of 90,389 shares.The stock last traded at $49.09 and had previously closed at $49.36.

Eaton Vance Floating Rate ETF Price Performance

The company has a fifty day moving average price of $50.05 and a 200-day moving average price of $50.31.

Eaton Vance Floating Rate ETF Cuts Dividend

The company also recently disclosed a dividend, which was paid on Friday, April 4th. Shareholders of record on Monday, March 31st were paid a $0.3116 dividend. The ex-dividend date was Monday, March 31st.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Eaton Vance Floating Rate ETF stock. Eldridge Investment Advisors Inc. grew its stake in Eaton Vance Floating Rate ETF (NYSEARCA:EVLN) by 143.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 59,137 shares of the company’s stock after purchasing an additional 34,850 shares during the period. Eldridge Investment Advisors Inc. owned approximately 0.38% of Eaton Vance Floating Rate ETF worth $2,978,000 at the end of the most recent reporting period.

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.