Eaton Vance Tax-Managed Diversified Equity Income Fund of Beneficial Interest (NYSE:ETY) traded today at a new 52-week high of $15.00. This new high was reached on below average trading volume as 101,000 shares traded hands, while the average 30-day volume is approximately 231,000 shares.
Over the past year, Eaton Vance Tax-Managed Diversified Equity Income Fund of Beneficial Interest has traded in a range of $11.17 to $15.00 and is now at $14.87, 33% above that low.
Eaton Vance Tax-Managed Diversified Equity Income Fund of Beneficial Interest (NYSE:ETY) has potential upside of 25.4% based on a current price of $14.87 and analysts’ consensus price target of $18.65.
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.
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