Eaton Vance Floating-Rate 2022 Target Term Trust
EFL
New York Stock Exchange- -
USD
- -
- -
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- CEO
- None
- Sector
- Financial Services
- Industry
- Financial - Diversified
- Address
- United States of America 02110
- IPO Date
- Jul 27, 2017
- CIK
- 0001701167
- Similar Companies
- Business
- Eaton Vance Floating-Rate 2022 Target Term Trust (NYSE: EFL) is a closed-end management investment trust that seeks high current income through investments primarily in senior, secured floating-rate loans issued by domestic and foreign borrowers, as well as other floating-rate debt securities; the Trust also aims to return its original net asset value of $9.85 per common share to shareholders upon its planned termination date of on or about October 31, 2022. Eaton Vance Management, a subsidiary of Eaton Vance Corp. and part of Morgan Stanley Investment Management, serves as the investment adviser, applying in-depth fundamental analysis to its portfolio of leveraged credit instruments across diversified sectors. Headquartered in Boston, Massachusetts, with a founding history tied to Eaton Vance's legacy dating back to 1924, the Trust operates principally in U.S. capital markets but includes foreign-denominated securities in U.S. dollars or select authorized foreign currencies. The Trust maintains no subsidiaries or parent company relationships beyond its management structure. In preparation for its 2022 termination, the Trust deviated from its normal investment policies starting in mid-2022, repaid all outstanding borrowings under its credit agreement, reduced the investment adviser and administration fee to 0.35% of average daily total managed assets as of July 21, 2022, and shifted its portfolio primarily to cash, cash equivalents, and receivables from unsettled securities sales. Due to challenging market conditions over its limited operating history—which began with an initial public offering at $10.00 per share in 2017—the Trust did not achieve its objective of returning the original $9.85 NAV, closing at $8.64 per share as of August 19, 2022, ahead of liquidation. As of late 2025, EFL shares continue to trade on the NYSE at approximately $8.63-$8.65, with recent trading volume around 88,440 shares and a dividend yield of about 6.26%, though the Trust has been marked as potentially delisted following its completed liquidation process. No recent partnerships, acquisitions, funding rounds, or new product launches have been reported for the Trust within the last 1-2 years, consistent with its term structure and wind-down.