Insider Selling: Eaton Vance California Municipal Income Trust (NYSE:CEV) Major Shareholder Sells 11,503 Shares of Stock

Eaton Vance California Municipal Income Trust (NYSE:CEV) major shareholder Saba Capital Management, L.P. sold 11,503 shares of Eaton Vance California Municipal Income Trust stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $11.02, for a total transaction of $126,763.06. Following the completion of the sale, the insider now directly owns 927,044 shares in the company, valued at approximately $10,216,024.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own at least 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 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 0.1 %

CEV opened at $10.89 on Thursday. The firm has a 50-day moving average price of $11.00 and a 200-day moving average price of $10.75. Eaton Vance California Municipal Income Trust has a twelve month low of $8.83 and a twelve month high of $11.29.

Eaton Vance California Municipal Income Trust Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 13th will be paid a dividend of $0.05 per share. The ex-dividend date is Friday, September 13th. This represents a $0.60 annualized dividend and a yield of 5.51%.

Hedge Funds Weigh In On Eaton Vance California Municipal Income Trust

Hedge funds have recently bought and sold shares of the company. Sanctuary Advisors LLC purchased a new position in Eaton Vance California Municipal Income Trust during the second quarter valued at approximately $328,000. Cypress Wealth Services LLC purchased a new position in Eaton Vance California Municipal Income Trust during the first quarter valued at approximately $335,000. Napa Wealth Management purchased a new position in Eaton Vance California Municipal Income Trust during the fourth quarter valued at approximately $665,000. Finally, Hennion & Walsh Asset Management Inc. grew its stake in Eaton Vance California Municipal Income Trust by 49.5% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 126,629 shares of the company’s stock valued at $1,344,000 after acquiring an additional 41,944 shares in the last quarter. Hedge funds and other institutional investors own 35.88% of the company’s stock.

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.