Eaton Vance California Municipal Income Trust (NYSE:CEV) Major Shareholder Sells $162,634.11 in Stock

Eaton Vance California Municipal Income Trust (NYSE:CEV) major shareholder Saba Capital Management, L.P. sold 15,017 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $10.83, for a total value of $162,634.11. Following the transaction, the insider now directly owns 836,608 shares in the company, valued at approximately $9,060,464.64. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Wednesday, September 18th, Saba Capital Management, L.P. sold 28,682 shares of Eaton Vance California Municipal Income Trust stock. The shares were sold at an average price of $10.89, for a total value of $312,346.98.
• On Monday, September 16th, Saba Capital Management, L.P. sold 11,503 shares of Eaton Vance California Municipal Income Trust stock. The stock was 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 shares were sold at an average price of $11.03, for a total value of $261,024.95.

Eaton Vance California Municipal Income Trust Trading Down 0.1 %

Shares of NYSE:CEV opened at $10.80 on Friday. Eaton Vance California Municipal Income Trust has a 1 year low of $8.83 and a 1 year high of $11.29. The stock has a 50-day simple moving average of $10.98 and a 200-day simple moving average of $10.77.

Eaton Vance California Municipal Income Trust Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 13th were given a $0.05 dividend. This represents a $0.60 annualized dividend and a dividend yield of 5.56%. The ex-dividend date of this dividend was Friday, September 13th.

Institutional Investors Weigh In On Eaton Vance California Municipal Income Trust

Large investors have recently modified their holdings of the stock. Sanctuary Advisors LLC purchased a new position in Eaton Vance California Municipal Income Trust in the 2nd quarter worth approximately $328,000. Cypress Wealth Services LLC purchased a new position in shares of Eaton Vance California Municipal Income Trust in the first quarter valued at $335,000. Napa Wealth Management purchased a new position in shares of Eaton Vance California Municipal Income Trust in the fourth quarter valued at $665,000. Finally, Hennion & Walsh Asset Management Inc. grew its holdings in Eaton Vance California Municipal Income Trust by 49.5% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 126,629 shares of the company’s stock valued at $1,344,000 after purchasing an additional 41,944 shares in the last quarter. Institutional investors and hedge funds own 35.88% of the company’s stock.

Eaton Vance California Municipal Income Trust Company Profile

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.