Eaton Vance Tax-Managed Diversified Equity Income Fund of Beneficial Interest (NYSE:ETY) traded at a new 52-week high today of $14.52. This new high was reached on below average trading volume as 89,000 shares traded hands, while the average 30-day volume is approximately 246,000 shares.
The Fund seeks to generate current earnings from dividends on stocks held and from option premiums. Under normal market conditions, the Fund will invest at least 80% of its total assets in a combination of: 1. Dividend-paying common stocks, primarily in common stocks of United States issuers, but may invest up to 40% of its assets in common stocks of foreign issuers, including up to 5% of its total assets in securities of issuers located in emerging markets; 2. Common stocks the value of which is subject to covered written index call options. The Fund intends initially to write call options on the S&P 500 Composite Stock Price Index(R), and may also initially write call options on other domestic and foreign stock indices.
Eaton Vance Tax-Managed Diversified Equity Income Fund of Beneficial Interest share prices have moved between a 52-week high of $14.52 and a 52-week low of $10.29 and are now trading 41% above that low price at $14.47 per share.
There is potential upside of 32.9% for shares of Eaton Vance Tax-Managed Diversified Equity Income Fund of Beneficial Interest based on a current price of $14.47 and an average consensus analyst price target of $19.24.
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