Eaton Vance California Municipal Income Trust (NYSE:CEV) Major Shareholder Sells $282,451.70 in Stock

Eaton Vance California Municipal Income Trust (NYSE:CEV) major shareholder Saba Capital Management, L.P. sold 25,913 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $10.90, for a total value of $282,451.70. Following the sale, the insider now owns 756,832 shares in the company, valued at $8,249,468.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Major shareholders that own 10% or more 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 Thursday, September 26th, Saba Capital Management, L.P. sold 21,340 shares of Eaton Vance California Municipal Income Trust stock. The stock was sold at an average price of $10.80, for a total transaction of $230,472.00.
• 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 stock was 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 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 Trading Down 0.6 %

Shares of CEV opened at $10.80 on Friday. The business’s fifty day moving average price is $10.97 and its two-hundred day moving average price is $10.78. Eaton Vance California Municipal Income Trust has a 52 week low of $8.83 and a 52 week high of $11.29.

Eaton Vance California Municipal Income Trust Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, October 18th. Investors of record on Friday, October 11th will be issued a $0.05 dividend. This represents a $0.60 annualized dividend and a yield of 5.56%. The ex-dividend date of this dividend is Friday, October 11th.

Institutional Trading of Eaton Vance California Municipal Income Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hennion & Walsh Asset Management Inc. grew its position in shares of Eaton Vance California Municipal Income Trust by 37.5% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 174,143 shares of the company’s stock worth $1,895,000 after buying an additional 47,514 shares during the period. Napa Wealth Management bought a new position in Eaton Vance California Municipal Income Trust in the fourth quarter valued at approximately $665,000. Sanctuary Advisors LLC acquired a new position in shares of Eaton Vance California Municipal Income Trust during the 2nd quarter worth about $328,000. Finally, Cypress Wealth Services LLC acquired a new position in shares of Eaton Vance California Municipal Income Trust in the 1st quarter valued at approximately $335,000. 35.88% of the stock is currently owned by institutional investors and hedge funds.

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.