In Monday trading, shares of the Eaton Vance Floating-Rate ETF (Symbol: EVLN) fell to $48.71, entering oversold territory with a Relative Strength Index (RSI) of 26.9. An investment is considered oversold if the RSI drops below 30; for comparison, the S&P 500 has an RSI of 43.2.
EVLN’s recent performance shows a 52-week low of $48.21 and a high of $50.42, with the shares currently trading about 0.3% lower for the day. The current share price of $48.73 indicates potential buying opportunities as heavy selling may be nearing exhaustion.
