Eaton Vance Tax-Managed Global Diversified Equity Income Fund of Beneficial Interest (NYSE:EXG) traded at a new 52-week high today of $9.14. This new high was reached on below average trading volume as 233,000 shares traded hands, while the average 30-day volume is approximately 727,000 shares.
Eaton Vance Tax-Managed Global Diversified Equity Income Fund of Beneficial Interest (NYSE:EXG) defies analysts with a current price ($9.11) 63.0% above its average consensus price target of $3.37.
The Funds primary investment objective is to provide current income and gains, with a secondary objective of capital appreciation. In pursuing its investment objectives, the Fund will evaluate returns on an after-tax basis, seeking to minimize and defer shareholder federal income taxes. Under normal market conditions, the Funds investment program will consist primarily of owning a diversified portfolio of domestic and foreign common stocks. The Fund will seek to earn high levels of tax-advantaged income and gains by (1) emphasizing investments in stocks that pay dividends that qualify for favourable federal income tax treatment and (2) writing (selling) stock index call options with respect to a portion of its common stock portfolio value.
Over the past year, Eaton Vance Tax-Managed Global Diversified Equity Income Fund of Beneficial Interest has traded in a range of $4.71 to $9.14 and is now at $9.11, 93% above that low.
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