Saba Capital Management, L.P. Sells 31,551 Shares of Eaton Vance California Municipal Income Trust (NYSE:CEV) Stock

Posted by MarketBeat News on Oct 24th, 2024

Eaton Vance California Municipal Income Trust (NYSE:CEV – Get Free Report) major shareholder Saba Capital Management, L.P. sold 31,551 shares of the stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $10.81, for a total transaction of $341,066.31. Following the completion of the transaction, the insider now directly owns 694,818 shares of the company’s stock, valued at $7,510,982.58. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own at least 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 Tuesday, October 15th, Saba Capital Management, L.P. sold 5,500 shares of Eaton Vance California Municipal Income Trust stock. The shares were sold at an average price of $10.69, for a total value of $58,795.00.
On Tuesday, October 8th, Saba Capital Management, L.P. sold 5,793 shares of Eaton Vance California Municipal Income Trust stock. The stock was sold at an average price of $10.79, for a total value of $62,506.47.
On Thursday, October 3rd, Saba Capital Management, L.P. sold 19,170 shares of Eaton Vance California Municipal Income Trust stock. The shares were sold at an average price of $10.86, for a total value of $208,186.20.
On Tuesday, October 1st, Saba Capital Management, L.P. sold 25,913 shares of Eaton Vance California Municipal Income Trust stock. The shares were sold at an average price of $10.90, for a total value of $282,451.70.
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 value of $261,024.95.

Eaton Vance California Municipal Income Trust Trading Down 1.5 %

Shares of CEV opened at $10.52 on Thursday. The stock has a fifty day moving average price of $10.88 and a two-hundred day moving average price of $10.80. 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

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The firm also recently declared a monthly dividend, which was paid on Friday, October 18th. Investors of record on Friday, October 11th were issued a $0.05 dividend. The ex-dividend date of this dividend was Friday, October 11th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.70%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cypress Wealth Services LLC acquired a new stake in Eaton Vance California Municipal Income Trust in the 1st quarter valued at about $335,000. Sanctuary Advisors LLC bought a new stake in shares of Eaton Vance California Municipal Income Trust during the second quarter valued at approximately $328,000. Finally, Hennion & Walsh Asset Management Inc. increased its holdings in shares of Eaton Vance California Municipal Income Trust by 49.5% in the first 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. Institutional investors and hedge funds own 35.88% of the company’s stock.

About Eaton Vance California Municipal Income Trust

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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.