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 dated Thursday, September 26th. The stock was sold at an average price of $10.80, for a total value of $230,472.00. Following the transaction, the insider now owns 804,788 shares in the company, valued at approximately $8,691,710.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions 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 value 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 shares were sold at an average price of $11.03, for a total transaction of $261,024.95.

Eaton Vance California Municipal Income Trust Stock Performance

Shares of CEV stock opened at $10.90 on Thursday. The company’s fifty day moving average price is $10.98 and its two-hundred day moving average price is $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 firm also recently declared a dividend, which will be paid on Friday, October 18th. Investors of record on Friday, October 11th will be issued a $0.05 dividend. The ex-dividend date is Friday, October 11th.

Hedge Funds Weigh In On Eaton Vance California Municipal Income Trust

Institutional investors have recently made changes to their positions in the business. Sanctuary Advisors LLC bought a new stake in shares of Eaton Vance California Municipal Income Trust in the second quarter worth $328,000. Cypress Wealth Services LLC acquired a new position in Eaton Vance California Municipal Income Trust during the 1st quarter worth $335,000. Napa Wealth Management bought a new stake in shares of Eaton Vance California Municipal Income Trust in the 4th quarter worth about $665,000. Finally, Hennion & Walsh Asset Management Inc. raised its stake in shares of Eaton Vance California Municipal Income Trust by 49.5% in 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. 35.88% of the stock is owned by institutional investors and hedge funds.

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.