Bullish indicating open at $55-$60, IPO prices at $37
In a challenging market environment, Eaton (NYSE:ETN) Vance Floating-Rate Income Trust (EFT) stock has reached its 52-week low, dipping to $12.46. According to InvestingPro data, the fund’s RSI indicates oversold conditions, while maintaining an attractive 9% dividend yield and a conservative beta of 0.58. This latest price movement reflects a broader trend for the closed-end fund, though InvestingPro data shows a positive 3.56% total return over the past year. Investors are closely monitoring the fund’s performance as it navigates through fluctuating interest rates and economic headwinds, which have significantly impacted the floating-rate loan sector. The fund’s P/E ratio of 8.72 and remarkable 22-year dividend payment history provide important context for market participants evaluating its current position and future prospects. Unlock additional insights and 6 more exclusive ProTips with InvestingPro.
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