Saba Capital Management, L.P. Sells 25,913 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 25,913 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $10.90, for a total transaction of $282,451.70. Following the transaction, the insider now directly owns 756,832 shares in the company, valued at approximately $8,249,468.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Large shareholders that own more than 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 Thursday, September 26th, Saba Capital Management, L.P. sold 21,340 shares of Eaton Vance California Municipal Income Trust stock. The shares were sold at an average price of $10.80, for a total value 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 stock was 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 shares were sold at an average price of $11.02, for a total value 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 Stock Performance

NYSE:CEV traded down $0.06 during trading hours on Thursday, hitting $10.84. The company had a trading volume of 59,514 shares, compared to its average volume of 20,829. The stock has a 50-day moving average price of $10.98 and a 200 day moving average price of $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 business also recently disclosed a dividend, which will be paid on Friday, October 18th. Investors of record on Friday, October 11th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, October 11th.

Institutional Investors Weigh In On Eaton Vance California Municipal Income Trust

Hedge funds have recently added to or reduced their stakes in the stock. Cypress Wealth Services LLC purchased a new position in shares of Eaton Vance California Municipal Income Trust in the 1st quarter worth about $335,000. Sanctuary Advisors LLC bought a new position in shares of Eaton Vance California Municipal Income Trust in the second quarter worth approximately $328,000. 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 stake 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 during the last quarter. 35.88% of the stock is owned by institutional investors.

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.