Eaton Vance Short Duration Diversified Income Fund (NYSE:EVG) Stock Price Down 1.5% – Here’s Why

Eaton Vance Short Duration Diversified Income Fund (NYSE:EVG)’s stock price fell 1.5% during mid-day trading on Wednesday. The company traded as low as $9.98 and last traded at $10.0150. Approximately 35,446 shares were traded during trading, a decline of 7% from the average daily volume of 38,021 shares. The stock had previously closed at $10.17.

Eaton Vance Short Duration Diversified Income Fund Stock Performance

The business has a fifty day moving average of $10.54 and a 200-day moving average of $10.66.

Eaton Vance Short Duration Diversified Income Fund Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be paid a $0.0730 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $0.88 annualized dividend and a yield of 8.8%. This is a drop from Eaton Vance Short Duration Diversified Income Fund’s previous monthly dividend of $0.0732.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Baird Financial Group Inc. raised its position in shares of Eaton Vance Short Duration Diversified Income Fund by 9.4% in the second quarter. Baird Financial Group Inc. now owns 11,650 shares of the company’s stock worth $126,000 after buying an additional 1,000 shares in the last quarter. Post Resch Tallon Group Inc. boosted its position in shares of Eaton Vance Short Duration Diversified Income Fund by 25.0% during the 2nd quarter. Post Resch Tallon Group Inc. now owns 34,607 shares of the company’s stock valued at $373,000 after acquiring an additional 6,924 shares during the last quarter. Dynamic Advisor Solutions LLC bought a new stake in shares of Eaton Vance Short Duration Diversified Income Fund during the 2nd quarter valued at about $109,000. CoreCap Advisors LLC grew its holdings in shares of Eaton Vance Short Duration Diversified Income Fund by 38.9% during the second quarter. CoreCap Advisors LLC now owns 5,000 shares of the company’s stock worth $54,000 after purchasing an additional 1,400 shares in the last quarter. Finally, Arete Wealth Advisors LLC purchased a new position in shares of Eaton Vance Short Duration Diversified Income Fund during the first quarter worth about $269,000.

About Eaton Vance Short Duration Diversified Income Fund

Eaton Vance Short Duration Diversified Income Fund (NYSE: EVG) is a closed-end investment fund managed by Eaton Vance Management, an investment-management subsidiary of Morgan Stanley Investment Management. The fund seeks to provide a high level of current income while maintaining a relatively short duration, which is intended to reduce sensitivity to changes in interest rates compared with longer-duration fixed-income portfolios.

The fund invests in a diversified portfolio of income-producing securities.