Shares Under Scrutiny: Eaton Vance Short Duration Diversified Income Fund (EVG)

Xavier Trudeau
Août 17, 2017

Welch & Forbes LLC lowered its position in Eaton Vance Corporation (NYSE:EV) by 64.3% during the second quarter, according to its most recent disclosure with the SEC.

Investment analysts have released ratings on the stock recently. Moving average indicators are used widely for stock analysis. Jefferies Group LLC reiterated a "hold" rating and issued a $45.00 target price on shares of Eaton Vance Corporation in a report on Wednesday, June 28th. On Wednesday, June 7 Witkos Matthew J sold $1.92 million worth of Eaton Vance Corp (NYSE:EV) or 40,000 shares. Eaton Vance Short Duration Diversified Income Fund (EVG)'s Williams %R presently stands at -30.36.

Typically bull markets are times when investors may be willing to be a bit more speculative with stock selection. The stock was sold at an average price of $48.46, for a total transaction of $124,202.98.

Checking in on some other technical levels, the 14-day RSI is now at 51.34, the 7-day stands at 50.49, and the 3-day is sitting at 59.33. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Dorothy E. Puhy sold 2,563 shares of Eaton Vance Corporation stock in a transaction that occurred on Tuesday, June 6th. A CCI reading above +100 would imply that the stock is overbought and possibly ready for a correction. Hollencrest Securities Llc owns 38,590 shares or 0.12% of their U.S. portfolio. The disclosure for this sale can be found here. Creative Planning now owns 5,098 shares of the asset manager's stock worth $241,000 after buying an additional 163 shares during the period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Mn Services Vermogensbeheer B.V. now owns 3,028 shares of the asset manager's stock valued at $127,000 after buying an additional 148 shares during the last quarter. Symphony Asset Management Llc owns 968,586 shares or 0.68% of their United States portfolio. Finally, Nordea Investment Management AB increased its position in Eaton Vance Corporation by 131.9% in the first quarter. Stratos Wealth Partners LTD. now owns 16,683 shares of the company's stock valued at $285,000 after buying an additional 200 shares during the last quarter. IFP Advisors Inc boosted its position in shares of Eaton Vance Tax Managed Buy Write Opport by 1.2% in the first quarter. Boston Advisors LLC now owns 385,465 shares of the asset manager's stock valued at $17,331,000 after buying an additional 75,634 shares during the last quarter. The Fund pursues its objective by investing primarily in dividend-paying common and preferred stocks. At the time of writing, the 14-day ADX for Eaton Vance Risk-Managed Diversified Equity Income Fund (ETJ) is standing at 16.45. The stock had a trading volume of 135,763 shares. Looking at some moving average levels, the 200-day is at 13.91, the 50-day is 14.13, and the 7-day is sitting at 14.44. To understand whether buying a stock at a higher price is justified by its long-term return potential, it is necessary to keep the finger on the pulse of underlying fundamentals. The company has market cap of $5.48 billion. The firm had revenue of $374.60 million during the quarter, compared to analysts' expectations of $373.28 million. Currently, Eaton Vance Senior Floating-Rate Trust (EFR) has a 14-day ATR of 0.12. The ex-dividend date is Tuesday, August 22nd. Investors of record on Thursday, August 24th will be given a $0.1025 dividend. This represents a $1.12 annualized dividend and a yield of 2.35%. Eaton Vance Corporation's dividend payout ratio (DPR) is presently 49.34%.

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