Eaton Vance Senior Floating Rate Trust
A closed-end investment fund that lends to companies through senior, secured floating-rate loans, whose interest payments rise and fall with market rates. Launched in 2003 and managed by Boston's Eaton Vance, it takes its name from the 1979 merger of two Boston investment houses: Eaton & Howard, founded in 1924 by Charles Eaton Jr., and Vance, Sanders & Company. The "senior" in its name signals these loans sit first in line for repayment if a borrower fails.
Common shares of Eaton Vance Senior Floating Rate Trust