Eaton Vance Floating Rate ETF (NYSEARCA:EVLN) Reaches New 1-Year Low – Should You Sell?

Eaton Vance Floating Rate ETF (NYSEARCA:EVLN) shares hit a new 52-week low during trading on Monday . The stock traded as low as $48.42 and last traded at $48.43, with a volume of 9429 shares trading hands. The stock had previously closed at $48.65.

Eaton Vance Floating Rate ETF Stock Performance

The firm’s 50-day simple moving average is $50.05 and its 200 day simple moving average is $50.31.

Eaton Vance Floating Rate ETF Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Friday, April 4th. Investors of record on Monday, March 31st were given a dividend of $0.3116 per share. The ex-dividend date of this dividend was Monday, March 31st.

Institutional Trading of Eaton Vance Floating Rate ETF

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

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.