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

Posted by Shane Hupp 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 Eaton Vance California Municipal Income Trust stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $10.81, for a total value of $341,066.31. Following the completion of the sale, the insider now owns 694,818 shares of the company’s stock, valued at approximately $7,510,982.58. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own at least 10% 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 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 transaction 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 transaction 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 transaction 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 stock was sold at an average price of $10.90, for a total transaction 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 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 value 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 value 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 transaction of $261,024.95.

Eaton Vance California Municipal Income Trust Stock Down 1.5 %

Shares of NYSE:CEV opened at $10.52 on Thursday. The company has a 50 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 Dividend Announcement

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. 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. Hennion & Walsh Asset Management Inc. increased 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 worth $1,344,000 after purchasing an additional 41,944 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new stake in Eaton Vance California Municipal Income Trust during the 2nd quarter worth approximately $328,000. 35.88% of the stock is currently owned by institutional investors.

About Eaton Vance California Municipal Income Trust

(Get Free Report)

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.