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Eaton Vance Floating Rate Income Closed Fund (EFT)
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Upturn Advisory Summary
04/01/2025: EFT (1-star) is currently NOT-A-BUY. Pass it for now.
Upturn Star Rating
Not Recommended Performance
These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.
AI Based Fundamental Rating
Moderate Performance
These Stocks/ETFs, based on Upturn Advisory, typically align with the market average, offering steady but unremarkable returns.
Analysis of Past Performance
Type Stock | Historic Profit 12.85% | Avg. Invested days 63 | Today’s Advisory PASS |
Upturn Star Rating | Upturn Advisory Performance  3.0 | Stock Returns Performance  2.0 |
| Profits based on simulation | Last Close 04/01/2025 |
Key Highlights
Company Size Small-Cap Stock | Market Capitalization 331.88M USD | Price to earnings Ratio 8.66 | 1Y Target Price - |
Price to earnings Ratio 8.66 | 1Y Target Price - | ||
Volume (30-day avg) 66250 | Beta 0.58 | 52 Weeks Range 11.85 - 13.41 | Updated Date 04/1/2025 |
52 Weeks Range 11.85 - 13.41 | Updated Date 04/1/2025 | ||
Dividends yield (FY) 9.00% | Basic EPS (TTM) 1.45 |
Earnings Date
Report Date 2025-03-13 | When After Market | Estimate - | Actual - |
Profitability
Profit Margin 70.66% | Operating Margin (TTM) 90.92% |
Management Effectiveness
Return on Assets (TTM) 5.36% | Return on Equity (TTM) 10.97% |
Valuation
Trailing PE 8.66 | Forward PE - | Enterprise Value 528475456 | Price to Sales(TTM) 6.16 |
Enterprise Value 528475456 | Price to Sales(TTM) 6.16 | ||
Enterprise Value to Revenue 11.64 | Enterprise Value to EBITDA - | Shares Outstanding 26444900 | Shares Floating - |
Shares Outstanding 26444900 | Shares Floating - | ||
Percent Insiders - | Percent Institutions 28.42 |
Analyst Ratings
Rating 3 | Target Price - | Buy - | Strong Buy - |
Buy - | Strong Buy - | ||
Hold 2 | Sell - | Strong Sell - | |
Strong Sell - |
Upturn AI SWOT
Eaton Vance Floating Rate Income Closed Fund
Company Overview
History and Background
Eaton Vance Floating Rate Income Closed Fund (EFT) was established to provide investors with high current income by investing primarily in floating rate loans.
Core Business Areas
- Investment Management: Manages a portfolio primarily of floating rate loans, aiming for high current income.
Leadership and Structure
The fund is managed by Eaton Vance Management, which is a subsidiary of Morgan Stanley Investment Management.
Top Products and Market Share
Key Offerings
- Floating Rate Loans Portfolio: Primarily invests in senior, secured floating rate loans. Market share data is not directly applicable as EFT is a fund, but it operates within the broader market of floating rate debt instruments. Competitors include other closed-end funds and ETFs focused on floating rate debt, such as BlackRock Floating Rate Income Strategies Fund (FRA) and Invesco Senior Income Trust (INN).
Market Dynamics
Industry Overview
The floating rate loan market is influenced by interest rate environments and credit market conditions. Rising interest rates generally benefit floating rate loans.
Positioning
EFT is positioned as an income-generating investment in the floating rate loan sector, appealing to investors seeking to mitigate interest rate risk.
Total Addressable Market (TAM)
The TAM for floating rate loans is in the hundreds of billions of dollars. EFT's positioning within this TAM depends on its ability to attract and retain assets under management.
Upturn SWOT Analysis
Strengths
- Experienced Management Team
- Focus on Income Generation
- Mitigation of Interest Rate Risk through Floating Rates
Weaknesses
- Leverage Increases Volatility
- Credit Risk of Underlying Loans
- Closed-End Fund Structure Can Lead to Discount to NAV
Opportunities
- Rising Interest Rate Environment
- Increased Demand for Income-Generating Assets
- Expansion of Loan Market
Threats
- Economic Downturn and Increased Default Rates
- Increased Competition from Other Funds
- Changes in Regulations Affecting Loan Market
Competitors and Market Share
Key Competitors
- FRA
- INN
- BGB
Competitive Landscape
EFT competes with other closed-end funds and ETFs in the floating rate loan sector. Competitive advantages include management expertise and fund structure.
Major Acquisitions
Growth Trajectory and Initiatives
Historical Growth: Assess historical growth in net assets and distribution rates.
Future Projections: Future growth is tied to floating rate market conditions and EFT's ability to attract and retain assets. Analyst estimates are variable.
Recent Initiatives: Focus on active portfolio management and potentially adjusting leverage in response to market conditions.
Summary
Eaton Vance Floating Rate Income Closed Fund aims to provide high current income through floating rate loans. Its performance is affected by interest rate environments and credit market conditions. The fund benefits from experienced management but faces risks related to leverage and potential discounts to NAV. It must adapt to market changes and manage credit risk effectively.
Similar Companies
- FRA
- INN
- BGB
- JFR
Sources and Disclaimers
Data Sources:
- Eaton Vance (Morgan Stanley) website
- SEC Filings
- Financial News Sources (e.g., Bloomberg, Reuters)
Disclaimers:
The information provided is for informational purposes only and should not be construed as financial advice. Investment decisions should be based on individual circumstances and consultation with a financial advisor.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Eaton Vance Floating Rate Income Closed Fund
Exchange NYSE | Headquaters Boston, MA, United States | ||
IPO Launch date 2004-07-26 | CEO - | ||
Sector Financial Services | Industry Asset Management | Full time employees - | |
Full time employees - | |||
Eaton Vance Floating-Rate Income Trust is a closed-ended fixed income mutual fund launched and managed by Eaton Vance Management. The fund invests in fixed income markets of the United States. It invests in fixed income securities operating across diversified sectors. The fund primarily invests in senior, secured floating rate loans. It benchmarks the performance of its portfolio against the S&P/LSTA Leveraged Loan Index. Eaton Vance Floating-Rate Income Trust was formed on June 29, 2004 and is domiciled in the United States.
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