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Eaton Vance Senior Floating Rate Closed Fund (EFR)
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Upturn Advisory Summary
02/23/2026: EFR (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.
Key Highlights
Company Size Small-Cap Stock | Market Capitalization 352.51M USD | Price to earnings Ratio 7.7 | 1Y Target Price 12.43 |
Price to earnings Ratio 7.7 | 1Y Target Price 12.43 | ||
Volume (30-day avg) - | Beta 0.4 | 52 Weeks Range 10.40 - 13.38 | Updated Date 06/29/2025 |
52 Weeks Range 10.40 - 13.38 | Updated Date 06/29/2025 | ||
Dividends yield (FY) 8.94% | Basic EPS (TTM) 1.55 |
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 79.35% | Operating Margin (TTM) 79.66% |
Management Effectiveness
Return on Assets (TTM) 3.78% | Return on Equity (TTM) -0.22% |
Valuation
Trailing PE 7.7 | Forward PE - | Enterprise Value 549331008 | Price to Sales(TTM) 6.2 |
Enterprise Value 549331008 | Price to Sales(TTM) 6.2 | ||
Enterprise Value to Revenue 10.74 | Enterprise Value to EBITDA - | Shares Outstanding 29523600 | Shares Floating - |
Shares Outstanding 29523600 | Shares Floating - | ||
Percent Insiders - | Percent Institutions 25.14 |
Upturn AI SWOT
Eaton Vance Senior Floating Rate Closed Fund
Company Overview
History and Background
The Eaton Vance Senior Floating Rate Closed Fund (the 'Fund') was launched on May 15, 2004. It is a closed-end management investment company. The fund's primary objective is to seek to provide attractive current income and the potential for capital appreciation. It invests primarily in floating rate senior secured loans. Eaton Vance Investment Advisers, Inc. serves as the investment advisor.
Core Business Areas
- Floating Rate Senior Secured Loans: The fund's core business is investing in floating rate senior secured loans made to companies. These loans are typically below investment grade and are secured by the borrower's assets, offering a degree of protection in case of default. The floating rate nature of these loans means their interest payments adjust with changes in short-term interest rates, such as LIBOR or SOFR, which can provide a hedge against rising rate environments.
Leadership and Structure
The Fund is managed by Eaton Vance Investment Advisers, Inc., a subsidiary of Morgan Stanley. The Fund's Board of Trustees oversees its operations and investment strategies. Specific portfolio managers are responsible for day-to-day investment decisions.
Top Products and Market Share
Key Offerings
- Eaton Vance Senior Floating Rate Closed Fund: [object Object]
Market Dynamics
Industry Overview
The market for senior floating rate loans, also known as leveraged loans, is a significant segment of the credit markets. It is characterized by its sensitivity to interest rate changes and economic cycles. Institutional investors, including mutual funds, ETFs, and closed-end funds, are major participants. The industry is influenced by corporate credit quality, interest rate policy, and investor demand for yield.
Positioning
Eaton Vance Senior Floating Rate Closed Fund is positioned within the closed-end fund segment of the senior loan market. Its competitive advantage lies in its established track record, the expertise of its investment advisor, and its ability to access a diversified pool of senior secured loans. As a closed-end fund, it trades on an exchange, which can lead to premiums or discounts to its net asset value.
Total Addressable Market (TAM)
The total addressable market for leveraged loans is substantial, with outstanding loan volumes in the hundreds of billions of dollars globally. Eaton Vance Senior Floating Rate Closed Fund participates in a segment of this market, aiming to capture a portion of the investment flow seeking income from these instruments. The fund's positioning is within the closed-end fund wrapper, which represents a smaller but distinct part of the overall TAM compared to the broader loan market.
Upturn SWOT Analysis
Strengths
- Experienced Investment Advisor (Eaton Vance/Morgan Stanley)
- Focus on Senior Secured Loans providing relative downside protection
- Floating Rate nature offers protection in rising rate environments
- Diversified portfolio of loans
Weaknesses
- Closed-end structure can lead to trading at a discount/premium to NAV
- Sensitivity to credit cycles and economic downturns
- Limited liquidity compared to open-end funds
- Leverage used by the fund can amplify losses
Opportunities
- Potential for rising interest rates to increase income
- Opportunity to acquire loans at attractive valuations during market dislocations
- Increased investor demand for yield-oriented investments
- Growth in the overall leveraged loan market
Threats
- Economic recession leading to increased defaults
- Falling interest rates reducing income
- Increased competition from other income-generating investments
- Changes in regulatory environment impacting credit markets
- Credit rating downgrades of underlying borrowers
Competitors and Market Share
Key Competitors
- Invesco Senior Income Trust (VNI)
- Apollo Senior Floating Rate Fund, Inc. (AFT)
- BlackRock Senior Floating Rate Fund, Inc. (FRA)
- Oxford Senior Floating Rate Fund (OXF)
Competitive Landscape
Eaton Vance Senior Floating Rate Closed Fund competes with other closed-end funds and open-end vehicles focused on senior secured loans. Its advantages include its investment advisor's expertise and established presence. Disadvantages may arise from its specific expense ratios, leverage employed, and its current trading premium or discount to NAV, which can impact shareholder returns relative to competitors.
Growth Trajectory and Initiatives
Historical Growth: The growth trajectory of the fund is primarily measured by the change in its Net Asset Value (NAV) and its ability to generate consistent income distributions. Historically, performance has been influenced by the interest rate environment and the credit quality of the leveraged loan market.
Future Projections: Future projections for the fund would depend on the outlook for interest rates, economic growth, and credit default rates. Analysts' estimates for closed-end funds are less common than for operating companies and are typically focused on NAV performance and distribution sustainability.
Recent Initiatives: Recent initiatives for a closed-end fund would generally involve adjustments to its investment strategy, leverage levels, or efforts to manage its premium/discount to NAV. Specific initiatives are detailed in shareholder reports and company announcements.
Summary
Eaton Vance Senior Floating Rate Closed Fund is a well-established closed-end fund focused on senior floating rate loans. Its strength lies in its investment advisor's expertise and the protective features of senior secured, floating-rate debt. However, it faces risks from economic downturns, interest rate fluctuations, and the inherent volatility of the leveraged loan market. The fund's performance is closely tied to credit quality and market sentiment, requiring careful monitoring of its NAV and dividend sustainability.
Similar Stocks
Sources and Disclaimers
Data Sources:
- Eaton Vance Investor Relations
- Financial news outlets (e.g., Bloomberg, Reuters)
- SEC Filings (e.g., N-CSR, N-PORT)
Disclaimers:
This analysis is based on publicly available information and is for informational purposes only. It does not constitute investment advice. Past performance is not indicative of future results. Investors should conduct their own due diligence and consult with a financial advisor before making investment decisions.
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 Senior Floating Rate Closed Fund
Exchange NYSE | Headquaters Boston, MA, United States | ||
IPO Launch date 2003-11-25 | CEO - | ||
Sector Financial Services | Industry Asset Management | Full time employees - | |
Full time employees - | |||
Eaton Vance Senior Floating-Rate Trust is a closed-ended fixed income mutual fund launched and managed by Eaton Vance Management. The fund invests in the fixed income markets of the United States. It 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 Senior Floating-Rate Trust was formed on November 28, 2003 and is domiciled in the United States.
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