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EVT: A Solid Fund For The Long Term


  • EVT is currently trading near a premium but is an otherwise solid fund that investors can continue holding.
  • The fund's distribution yield comes in at an attractive ~7.5%, paid to investors monthly.
  • The fund's moderate amount of leverage doesn't leave the fund overly vulnerable to higher interest rates.
  • Looking for a portfolio of ideas like this one? Members of CEF/ETF Income Laboratory get exclusive access to our model portfolio. Learn More »

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Written by Nick Ackerman, co-produced by Stanford Chemist. This article was originally published to members of the CEF/ETF Income Laboratory on May 2nd, 2022.

Eaton Vance Tax-Advantaged Dividend Income Fund (NYSE:EVT) continues to trade

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This article was written by

Nick Ackerman profile picture

Nick Ackerman is a former financial advisor using his experience to provide coverage on closed-end funds and exchange-traded funds. Nick has previously held Series 7 and Series 66 licenses and has been investing personally for over 14 years.

He contributes to the investing group CEF/ETF Income Laboratory along with leader Stanford Chemist, and Juan de la Hoz and Dividend Seeker. They help members benefit from income and arbitrage strategies in CEFs and ETFs by providing expert-level research. The service includes: managed portfolios targeting safe 8%+ yields, actionable income and arbitrage recommendations, in-depth analysis of CEFs and ETFs, and a friendly community of over a thousand members looking for the best income ideas. These are geared towards both active and passive investors. The vast majority of their holdings are also monthly-payers, which is great for faster compounding as well as smoothing income streams. Learn More.

Analyst’s Disclosure: I/we have a beneficial long position in the shares of EVT, JPM either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Comments (24)

Keep the faith Nick.

Got nailed on my EOS and MPW, I am glad I held up and didnt buy more. I think I will wait until August and look at the numbers then.

Hoping for a bottom, but we got more bad news to come.
Nick Ackerman profile picture
@sky4it2012 indeed! Such a tough market out there. Good luck!
Already own EXD, ETV , EVT and EOI . Overlap yes but still sleep good .
Given the recent pullback would ETJ be like a owning a 9% bond fund . Yes could still go lower but already made a move downward so why not just sit on it and collect the dividends?
Nick Ackerman profile picture
@dcam117 thank you for reading! I think ETJ can be a fine fund to hold. It is quite defensive though, so it really only stands our during downturns.
Stickgs profile picture
Thanks for the article @Nick Ackerman Been Long EVT for years along with ETW, ETY. Eaton Vance can be counted on to provide well-managed CEFs, imho.
Nick Ackerman profile picture
@Stickgs thanks for sharing your input! Good luck to us both!
7865671 profile picture
For those of us holding and not looking to add shares at this time, I say that EVT has a resilient premium. But when I wish to add shares it then becomes a "stubborn premium". :-)
Nick Ackerman profile picture
@7865671 hah! Yes, indeed! I was happy to initiate a position in 2020. Then capitulated and added more in February of this year even though the fund was still floating around its NAV price.
mistydoc profile picture
Although I own a full position (which has grown from a 2/3 position since a single purchase in October, 2020), your article has influenced me to add this fund to a short watch list of diversified funds. My approach is to reinvest excess dividends almost monthly, and I’ve been looking to add to full positions in BDJ and ADX (would include GAB but not with its 24% premium and 24% leverage) after sort of filling up on energy, utilities, and BDCs. Thanks for shining light back on this excellent fund.
Nick Ackerman profile picture
@mistydoc thank you for reading and sharing your thoughts! I continue to like BDJ and ADX as well.
mistydoc profile picture
@Nick Ackerman Among diversified funds I already own, I suppose I could add USA, SCD, and GLQ to my watchlist. But am oversubscribed in USA, SCD has its somewhat eclectic portfolio, and GLQ…well, GLQ has been a falling piano since I bought into it during the peak of Covid when I thought it would be great in reopening economies. So will focus on BDJ, ADX, and now EVT.
Nice article good CEF. Has performed well and don't plan on selling.
Taxed advantaged to boot !
Nick Ackerman profile picture
@AlieGee indeed! Thank you for reading!
Prefer zero leverage ETV, EXD, etc....
Nick Ackerman profile picture
@outlook69 that's understandable. I'm long EXD as well. Good luck with your investing!
@Nick Ackerman EXD rocks ! Actually all the Eaton Vance tax advantaged that you've written about Nick.....
Good to see an update on this fund. After selling shortly after it pushed through $29 last month, I re-entered last week and have been accumulating again. As of yesterday's close, EVT is selling at a -.77 percent discount.

Its current level on a 10-year chart looks great where it shows upward momentum. I also like not seeing any ROC. At the moment, EVT & UTG are my only CEF holdings.
SleepyInSeattle profile picture
@Nick Ackerman I enjoy your articles.
I chickened out and sold all my shares because of leverage and premium. I think $EVT will give us another opportunity to reenter at a much lower premium.
Nick Ackerman profile picture
@SleepyInSeattle that could be! Thank you for reading!
chuckmyd profile picture
@Nick Ackerman
Thanks! Enjoy your EV articles, they have much to inform and offer. I own two EV funds, $ETV and $EXG and have been happy with both. $EVT may offer a conservative fund not just based on utilities. What I look for in CEFs are consistent long term payers at a reasonable price. This may be a good time to start an entry for long term 7+% returns.
Nick Ackerman profile picture
@chuckmyd thank you for sharing your thoughts!
Good article, thank you. Evt is my only closed end fund and I enjoy the steady money coming in.
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