Eaton Vance California Municipal Income Trust (NYSE:CEV) Major Shareholder Sells $261,024.95 in Stock

Eaton Vance California Municipal Income Trust (NYSE:CEV) major shareholder Saba Capital Management, L.P. sold 23,665 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $11.03, for a total value of $261,024.95. Following the completion of the sale, the insider now owns 938,547 shares of the company’s stock, valued at approximately $10,352,173.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own 10% or more of a company’s stock 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 stock was sold at an average price of $11.02, for a total value of $126,763.06.

Eaton Vance California Municipal Income Trust Stock Down 0.9 %

Shares of CEV stock opened at $10.90 on Wednesday. The stock has a 50-day moving average of $11.00 and a 200-day moving average of $10.75. Eaton Vance California Municipal Income Trust has a one year low of $8.83 and a one year high of $11.29.

Eaton Vance California Municipal Income Trust Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 13th will be paid a $0.05 dividend. This represents a $0.60 annualized dividend and a yield of 5.50%. The ex-dividend date of this dividend is Friday, September 13th.

Institutional Investors Weigh In On Eaton Vance California Municipal Income Trust

Hedge funds have recently bought and sold shares of the company. Hennion & Walsh Asset Management Inc. increased its position in shares of Eaton Vance California Municipal Income Trust by 37.5% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 174,143 shares of the company’s stock valued at $1,895,000 after buying an additional 47,514 shares in the last quarter. Napa Wealth Management acquired a new position in Eaton Vance California Municipal Income Trust in the fourth quarter valued at about $665,000. Sanctuary Advisors LLC bought a new stake 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 shares of Eaton Vance California Municipal Income Trust during the first quarter worth about $335,000. Finally, Blue Bell Private Wealth Management LLC lifted its holdings in shares of Eaton Vance California Municipal Income Trust by 65.8% during the 1st quarter. Blue Bell Private Wealth Management LLC now owns 17,881 shares of the company’s stock valued at $190,000 after purchasing an additional 7,096 shares in the last quarter. 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.