Shares of Eaton Vance Tax-Managed Diversified Equity Income Fund of Beneficial Interest (NYSE:ETY) traded today at $14.41, eclipsing its 52-week high. Approximately 158,000 shares have changed hands today, as compared to an average 30-day volume of 249,000 shares.
In the past 52 weeks, Eaton Vance Tax-Managed Diversified Equity Income Fund of Beneficial Interest share prices are bracketed by a low of $10.29 and a high of $14.41 and is now at $14.41, 40% above that low price.
Eaton Vance Tax-Managed Diversified Equity Income Fund of Beneficial Interest (NYSE:ETY) has potential upside of 31.5% based on a current price of $14.41 and analysts’ consensus price target of $18.94.
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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