Eaton Vance California Municipal Income Trust (NYSE:CEV) Major Shareholder Saba Capital Management, L.P. Sells 28,682 Shares

Eaton Vance California Municipal Income Trust (NYSE:CEV) major shareholder Saba Capital Management, L.P. sold 28,682 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $10.89, for a total transaction of $312,346.98. Following the sale, the insider now owns 882,677 shares of the company’s stock, valued at approximately $9,612,352.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• On Monday, September 16th, Saba Capital Management, L.P. sold 11,503 shares of Eaton Vance California Municipal Income Trust stock. The shares were sold at an average price of $11.02, for a total transaction of $126,763.06.
• On Friday, September 13th, Saba Capital Management, L.P. sold 23,665 shares of Eaton Vance California Municipal Income Trust stock. The stock was sold at an average price of $11.03, for a total transaction of $261,024.95.

Eaton Vance California Municipal Income Trust Price Performance

Shares of NYSE CEV opened at $10.86 on Friday. The stock has a fifty day simple moving average of $11.00 and a two-hundred day simple moving average of $10.75. Eaton Vance California Municipal Income Trust has a 1-year low of $8.83 and a 1-year high of $11.29.

Eaton Vance California Municipal Income Trust Announces Dividend

The company also recently declared a monthly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 13th were paid a dividend of $0.05 per share. The ex-dividend date was Friday, September 13th. This represents a $0.60 annualized dividend and a dividend yield of 5.52%.

Institutional Investors Weigh In On Eaton Vance California Municipal Income Trust

Several large investors have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC bought a new stake in shares of Eaton Vance California Municipal Income Trust in the second quarter valued at approximately $328,000. Cypress Wealth Services LLC purchased a new position in Eaton Vance California Municipal Income Trust in the 1st quarter valued at approximately $335,000. Napa Wealth Management bought a new stake in Eaton Vance California Municipal Income Trust during the 4th quarter valued at $665,000. Finally, Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Eaton Vance California Municipal Income Trust by 49.5% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 126,629 shares of the company’s stock worth $1,344,000 after acquiring an additional 41,944 shares during the period. Hedge funds and other institutional investors own 35.88% of the company’s stock.

About Eaton Vance California Municipal Income Trust

Eaton Vance California Municipal Income Trust is a close ended fixed income mutual fund launched and managed by Eaton Vance Management. It invests in the fixed income markets. The fund invests primarily in debt securities issued by education, hospital, housing, insured-education, insured-electric utilities, insured-hospital, insured-transportation, insured-water and sewer, transportation, and other sectors.