Saba Capital Management, L.P. Sells 21,340 Shares of Eaton Vance California Municipal Income Trust (NYSE:CEV) Stock

Eaton Vance California Municipal Income Trust (NYSE:CEV) major shareholder Saba Capital Management, L.P. sold 21,340 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $10.80, for a total value of $230,472.00. Following the completion of the sale, the insider now owns 804,788 shares of the company’s stock, valued at $8,691,710.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own 10% or more 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 23rd, Saba Capital Management, L.P. sold 15,017 shares of Eaton Vance California Municipal Income Trust stock. The shares were sold at an average price of $10.83, for a total transaction of $162,634.11.
• 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 transaction 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 stock was sold at an average price of $11.03, for a total value of $261,024.95.

Eaton Vance California Municipal Income Trust Price Performance

Shares of Eaton Vance California Municipal Income Trust stock opened at $10.88 on Wednesday. The business has a 50 day simple moving average of $10.98 and a two-hundred day simple moving average of $10.78. Eaton Vance California Municipal Income Trust has a 12 month low of $8.83 and a 12 month high of $11.29.

Eaton Vance California Municipal Income Trust Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 13th were issued a $0.05 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.60 dividend on an annualized basis and a yield of 5.51%.

Institutional Investors Weigh In On Eaton Vance California Municipal Income Trust

A number of large investors have recently modified their holdings of the business. Sanctuary Advisors LLC purchased a new position in shares of Eaton Vance California Municipal Income Trust in the second quarter worth about $328,000. Cypress Wealth Services LLC acquired a new stake in Eaton Vance California Municipal Income Trust in the 1st quarter valued at about $335,000. Napa Wealth Management purchased a new position in Eaton Vance California Municipal Income Trust in the 4th quarter worth approximately $665,000. Finally, Hennion & Walsh Asset Management Inc. boosted its holdings in shares of 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 worth $1,344,000 after purchasing an additional 41,944 shares during the last quarter. Hedge funds and other institutional investors 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.