This time, we will present our readers with the Eaton Vance Tax-Managed Diversified Equity Income Fund (ETY), which was incorporated in November 2006. It is a closed-ended fund that is primarily focused on domestic and some international dividend-paying companies. In addition, this fund utilizes the writing of index call options to protect its portfolio in the case of a major market downturn. During normal market conditions, it also receives cash flows from underwritten options to enhance return for its shareholders. It pays a regular monthly distribution of $0.0843 per share and offers a