In trading on Friday, shares of the Eaton Vance Short Duration Municipal Income ETF (EVSM) reached an oversold condition, trading as low as $50 per share. The ETF’s Relative Strength Index (RSI) registered at 29.0, indicating significant selling pressure; a stock is typically considered oversold when the RSI falls below 30. In comparison, the S&P 500’s RSI is at 44.8.
The ETF’s 52-week performance shows a low point of $50 and a high of $50.88, with the last trade at $50.02. Currently, EVSM shares are down approximately 0.1% for the day. This oversold status may present buying opportunities for bullish investors as they assess the potential for a price rebound.
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