EV Duration Income Stock Price, News & Analysis

Eaton Vance Limited Duration Income Fund (EVV) is a diversified closed-end management investment company in the asset management industry. According to its disclosures, the fund’s stated investment objective is to provide a high level of current income, and it also seeks capital appreciation. EVV trades its common shares of beneficial interest on the NYSE American LLC under the symbol EVV.

The fund invests predominantly in a mix of Senior Floating-Rate Loans, Debt Obligations, Equity Securities, Derivatives, and Foreign Securities and Currencies. Based on available information, its portfolio spans multiple industries, including aerospace and defense, automotive, building and development, healthcare, and leisure, among others. This diversified approach reflects the fund’s focus on income generation with exposure to different sectors and security types.

Fund structure and governance

Eaton Vance Limited Duration Income Fund is organized as a Massachusetts business trust and operates as a registered investment company. It has both Common Shares and Auction Preferred Shares (APS), each with specific voting rights as described in its proxy materials. The fund’s Agreement and Declaration of Trust provides for a Board of Trustees divided into three classes, with each class serving multi-year terms and standing for election at staggered annual meetings of shareholders.

The Board of Trustees has fixed the number of trustees, within the range permitted by the governing documents, and the fund’s proxy statements describe how trustees are elected by holders of common shares and APS, either voting together as a single class or, in the case of certain APS-designated seats, voting separately as a single class. The fund’s governance framework is detailed in its proxy materials, including how proxies are solicited, how votes are counted, and how shareholders may attend and vote at annual meetings.

Share classes and shareholder rights

EVV’s capital structure includes common shares of beneficial interest with a stated par value and, in the case of the fund’s APS, a stated liquidation preference per share. Shareholders of record as of specified record dates, as set by the Board of Trustees, are entitled to notice of and to vote at shareholder meetings. Proxy statements explain that properly executed proxies are voted in accordance with shareholder instructions, and that shareholders may revoke proxies through specified procedures.

The fund’s proxy materials also describe how holders of APS, as a class and to the exclusion of common shareholders, are entitled to elect certain trustees. Other trustees are elected by holders of common shares and APS voting together as a single class. Election of trustees is non-cumulative, and shareholders do not have appraisal rights in connection with trustee elections as described in the proxy statement.

Exchange listing and regulatory status

According to its Form 8-K filings, Eaton Vance Limited Duration Income Fund’s common shares of beneficial interest are registered pursuant to Section 12(b) of the Securities Exchange Act of 1934 and are listed on the NYSE American LLC under the trading symbol EVV. The fund files periodic and current reports with the U.S. Securities and Exchange Commission, including proxy statements and Form 8-K reports describing material events related to its governance and board composition.

The fund identifies Massachusetts as its jurisdiction of incorporation and provides a Commission File Number and employer identification number in its SEC filings. These filings also describe certain material events, such as changes in the chairperson of the Board of Trustees and adjustments to the size of the Board.

Investment focus and sector exposure

Based on the fund’s stated investment approach, EVV invests primarily in income-oriented securities with limited duration characteristics, including senior floating-rate loans and other debt obligations. The fund also holds equity securities, derivatives, and foreign securities and currencies. Its investments span a range of industries, including aerospace and defense, automotive, building and development, healthcare, and leisure, among others, as described in available fund information.

This diversified sector exposure is intended to support the fund’s objective of generating a high level of current income while also seeking capital appreciation. The use of derivatives and foreign securities and currencies, as disclosed, adds additional dimensions to the fund’s investment strategy and risk profile.

Shareholder meetings and proxy process

EVV holds annual meetings of shareholders at its principal office location as described in its proxy statements. Shareholders of record as of the specified record date are entitled to attend and vote at the annual meeting. The proxy materials explain how shareholders can vote by proxy card, how proxies are solicited, and how shareholders can revoke a previously submitted proxy by written notice, by submitting a later-dated proxy, or by attending the meeting and voting their shares.

The proxy statement further explains that each fund within the proxy materials, including Eaton Vance Limited Duration Income Fund, holds separate meetings and that shareholders of each fund vote separately on proposals. It also outlines how certain large shareholders and insiders hold shares, based on Schedule 13D and 13G filings and internal ownership information as of the record date.

Board composition and recent governance developments

Form 8-K filings for EVV describe specific governance-related events. One filing reports the unexpected passing of the then-chairperson of the Board of Trustees and notes that another trustee served as acting chairperson. The same filing states that, effective as of a specified date, the Board reduced its size from ten to nine members. A subsequent Form 8-K reports that, effective as of a later date, the Board appointed a new chairperson of the Board for a defined term, replacing the acting chairperson in that role.

These disclosures illustrate how the fund reports material governance changes to shareholders and the market through current reports on Form 8-K. Details about individual trustees, their classification (such as Class I, II, or III trustees), and their terms of office are provided in the fund’s proxy statements, along with information about their professional backgrounds and other directorships.

Position within the financial services sector

Within the financial services sector, Eaton Vance Limited Duration Income Fund is categorized in the asset management industry as a closed-end investment fund. Its focus on limited duration income-oriented securities, along with exposure to multiple industries and security types, positions it as an income-focused investment vehicle managed under the Eaton Vance fund family structure as described in its filings and fund information.