Welcome to our dedicated page for EV Floating Rate Income news (Ticker: EFT), a resource for investors and traders seeking the latest updates and insights on EV Floating Rate Income stock.
Eaton Vance Floating-Rate Income Trust (NYSE: EFT) is a closed-end management investment company focused on a primary objective of providing a high level of current income, with capital appreciation as a secondary objective. As a listed closed-end fund in the asset management sector, EFT regularly releases information that can affect its trading dynamics, shareholder base and capital structure.
News coverage for EFT often centers on tender offers and related shareholder actions. The Fund has announced and completed cash tender offers to purchase a set percentage of its outstanding common shares at a price per share equal to a stated percentage of its net asset value (NAV) on the expiration date. Some of these have been conditional tender offers, triggered when the Fund’s shares traded at an average discount to NAV of more than 10% over a defined measurement period. Updates on preliminary and final tender offer results, including pro rata purchase factors and the number of shares accepted, are key topics in EFT news.
Additional news items may include Board and governance developments reported through Form 8-K filings, such as changes in the Chairperson of the Board or adjustments to the size of the Board of Trustees. Communications from Eaton Vance and Morgan Stanley Investment Management also provide context on the advisory relationship and the investment philosophy applied to EFT.
Investors and observers who follow EFT’s news can use this information to understand how tender offers, trading discounts to NAV, distribution policies and governance changes may influence the Fund’s share price and structure. This page aggregates such announcements and related disclosures so readers can review the Fund’s publicly reported developments in one place.
Saba Capital Management has reached an agreement with Eaton Vance Management concerning Eaton Vance Senior Income Trust (EVF), Eaton Vance Floating-Rate Income Trust (EFT), and Eaton Vance Senior Floating-Rate Trust (EFR). The Funds will conduct cash tender offers to repurchase up to 60%, 50%, and 50% of their outstanding shares at 99% of their net asset values (NAV). Additionally, conditional year-end tender offers for 10% of common shares at 98% of NAV will occur if specific discount conditions are met from 2022 to 2024.
The Annual Meeting of Shareholders for Eaton Vance Floating-Rate Income Trust (EFT) is set for April 16, 2021, at 11:30 a.m. ET. Due to COVID-19, the meeting will be held telephonically, and in-person attendance is not permitted. Shareholders on record as of February 3, 2021, can vote by emailing AST Fund Solutions for dial-in information. Also, those holding shares via intermediaries must obtain a legal proxy to participate. The Fund is actively monitoring the pandemic situation and may provide updates. The proxy statement is available online.
Eaton Vance Floating-Rate Income Trust (EFT), Eaton Vance Senior Floating-Rate Trust (EFR), and Eaton Vance New York Municipal Income Trust (EVY) announced conditional cash tender offers for up to 25% of their outstanding shares, contingent on shareholder approval of a new advisory agreement. If approved, EFT and EFR will increase monthly distributions to $0.0775 and $0.0813 per share, representing a 25% increase. The funds' distributions may not always reflect net investment income and can include other sources. There are risks regarding the tender offers and future distributions.