Eaton (NYSE:ETN) Vance Tax Advantaged Dividend Income Fund (NYSE:EVT) reported a recent insider transaction involving one of its top executives. Aaron Dunn, serving as a director of the fund, purchased common shares valued at a total of $6,950.
The transaction occurred on May 17, 2024, with Dunn acquiring 290 shares at a purchase price of $23.97 per share. Following this buy, Dunn's total holdings in Eaton Vance Tax Advantaged Dividend Income Fund increased to 1236.1956 shares.
Eaton Vance Tax Advantaged Dividend Income Fund is known for offering investors opportunities for tax-advantaged income. This insider purchase might be seen as a sign of confidence from the director in the fund's future performance.
Investors often monitor insider transactions as they may provide insights into the executive's view of the company's value and future prospects. With this latest transaction, stakeholders in Eaton Vance Tax Advantaged Dividend Income Fund have a recent data point to consider when evaluating their investment.
InvestingPro Insights
The recent insider purchase by Aaron Dunn in Eaton Vance Tax Advantaged Dividend Income Fund (NYSE:EVT) underscores the potential confidence in the fund's stability and future. This gesture aligns with the fund's history of providing shareholders with consistent returns. In fact, one of the InvestingPro Tips highlights that EVT has maintained dividend payments for an impressive 22 consecutive years, which may appeal to income-focused investors.
From a financial perspective, EVT's market capitalization stands at approximately $1.79 billion, according to the latest InvestingPro Data. Despite the fund not being profitable over the last twelve months, it offers a substantial dividend yield of 8.26%, which is notably attractive in the current investment climate. Additionally, EVT's stock trades near its 52-week high, with the price at the previous close being $23.91, just shy of its peak, indicating a strong market sentiment.
For investors seeking further insights and analysis on Eaton Vance Tax Advantaged Dividend Income Fund, additional InvestingPro Tips are available on the platform. As of now, there are more tips that can help investors make informed decisions. Readers interested in these insights can take advantage of an exclusive offer using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro.
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