Company: ETY
Filing Date: 2025-02-19
Form Type: 424B5
Source: 0001193125-25-029518
Chunk: 0

Company: Eaton Vance Tax-Managed Diversified Equity Income Fund
Filing Date: 2025-02-19
Form: 424B5
Chunk 0
---
Filed pursuant to Rule 424(b)(5)
File No. 333-284944 Prospectus Supplement (To Prospectus dated February 14, 2025) Eaton Vance Tax‑Managed Diversified Equity Income Fund Up to 16,705,649 Common Shares Eaton Vance Tax‑Managed Diversified Equity Income Fund (the “Fund,” “we,” or “our”) is a diversified, closed‑end management investment company that commenced operations on November 27, 2006. Our primary investment objective is to provide current income and gains, with a secondary objective of capital appreciation. In pursuing its investment objectives, the Fund will evaluate returns on an after‑tax basis, seeking to minimize and defer shareholder federal income taxes. The Fund has entered into a distribution agreement dated February 19, 2025 (the “Distribution Agreement”) with Eaton Vance Distributors, Inc. (the “Distributor”) relating to the common shares of beneficial interest (the “Common Shares”) offered by this Prospectus Supplement dated February 19, 2025 and the accompanying Prospectus dated February 14, 2025. The Distributor has entered into a dealer agreement, dated February 19, 2025 (the “Dealer Agreement”) with UBS Securities LLC (the “Dealer”) with respect to the Fund relating to the Common Shares offered by this Prospectus Supplement and the accompanying Prospectus. In accordance with the terms of the Dealer Agreement, we may offer and sell up to 16,705,649 Common Shares, $0.01 par value per share, from time to time through the Dealer as sub‑placement agent for the offer and sale of the Common Shares. Under the Investment Company Act of 1940, as amended (the “1940 Act”), the Fund may not sell any Common Shares at a price below the current net asset value of such Common Shares, exclusive of any distributing commission or discount. Our Common Shares are listed on the New York Stock Exchange (“NYSE”) under the symbol “ETY.” As of February 10, 2025, the last reported sale price for our Common Shares on the NYSE was $15.53 per share. Sales of our Common Shares, if any, under this Prospectus Supplement and the accompanying Prospectus may be made in negotiated transactions or transactions that are deemed to be “at the market” as defined in Rule 415 under the Securities Act of 1933, as amended (the “1933 Act”), including sales made directly on the NYSE or sales made to