Eaton Vance Tax-Managed Diversified Equity Income Fund (NYSE:ETY) Stock Short Interest Drops 56.0%

Eaton Vance Tax-Managed Diversified Equity Income Fund (NYSE:ETY) was the recipient of a significant drop in short interest in the month of September. As of September 30th, there was short interest totaling 17,360 shares, a drop of 56.0% from the September 15th total of 39,416 shares. Based on an average daily volume of 337,255 shares, the days-to-cover ratio is currently 0.1 days.

Eaton Vance Tax-Managed Diversified Equity Income Fund Stock Down 0.4%

NYSE ETY traded down $0.05 during trading on Tuesday, reaching $14.26. 190,729 shares of the stock traded hands, compared to its average volume of 273,884. Eaton Vance Tax-Managed Diversified Equity Income Fund has a fifty-two week low of $13.12 and a fifty-two week high of $15.90. The stock’s 50-day moving average price is $14.34 and its 200 day moving average price is $14.42.

Eaton Vance Tax-Managed Diversified Equity Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, October 30th. Shareholders of record on Thursday, October 15th will be issued a dividend of $0.0992 per share. The ex-dividend date of this dividend is Thursday, October 15th. This represents a $1.19 annualized dividend and a yield of 8.4%.

Institutional Investors Weigh In On Eaton Vance Tax-Managed Diversified Equity Income Fund

Several hedge funds have recently bought and sold shares of the stock. Cvfg LLC grew its position in shares of Eaton Vance Tax-Managed Diversified Equity Income Fund by 11.7% in the first quarter. Cvfg LLC now owns 13,242 shares of the investment management company’s stock valued at $183,000 after purchasing an additional 1,385 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in Eaton Vance Tax-Managed Diversified Equity Income Fund by 4.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 45,549 shares of the investment management company’s stock valued at $628,000 after buying an additional 2,103 shares in the last quarter. Eastern Bank grew its holdings in Eaton Vance Tax-Managed Diversified Equity Income Fund by 118.8% in the 3rd quarter. Eastern Bank now owns 5,129 shares of the investment management company’s stock valued at $72,000 after buying an additional 2,785 shares in the last quarter. Dynamic Advisor Solutions LLC increased its position in Eaton Vance Tax-Managed Diversified Equity Income Fund by 31.9% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 14,113 shares of the investment management company’s stock worth $205,000 after buying an additional 3,410 shares during the period. Finally, Private Advisor Group LLC increased its position in Eaton Vance Tax-Managed Diversified Equity Income Fund by 1.5% during the 1st quarter. Private Advisor Group LLC now owns 239,293 shares of the investment management company’s stock worth $3,300,000 after buying an additional 3,508 shares during the period.

About Eaton Vance Tax-Managed Diversified Equity Income Fund

Eaton Vance Tax-Managed Diversified Equity Income Fund (NYSE:ETY) is a closed-end investment company that seeks to provide current income and gains while managing the tax characteristics of its distributions. The fund invests primarily in a diversified portfolio of common stocks issued by companies in the United States and other countries.

To support its income-oriented strategy, ETY may write covered call options on selected portfolio holdings. This approach can generate option premiums while providing additional portfolio income, although it may limit some of the potential upside from the underlying stocks.