Saba Capital Management, L.P. Sells 23,665 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 23,665 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $11.03, for a total transaction of $261,024.95. Following the transaction, the insider now owns 938,547 shares in the company, valued at approximately $10,352,173.41. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Large shareholders that own more than 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 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 transaction of $126,763.06.

Eaton Vance California Municipal Income Trust Price Performance

CEV opened at $10.90 on Wednesday. The company’s 50 day simple moving average is $11.00 and its 200-day simple moving average is $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 Announces Dividend

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

Institutional Investors Weigh In On Eaton Vance California Municipal Income Trust

Several hedge funds and other institutional investors have recently made changes to their positions in CEV. Sanctuary Advisors LLC bought a new position in Eaton Vance California Municipal Income Trust in the second quarter valued at about $328,000. Hennion & Walsh Asset Management Inc. lifted its position in Eaton Vance California Municipal Income Trust by 37.5% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 174,143 shares of the company’s stock valued at $1,895,000 after purchasing an additional 47,514 shares during the period. Blue Bell Private Wealth Management LLC boosted its stake in shares of Eaton Vance California Municipal Income Trust by 65.8% in 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 during the last quarter. Cypress Wealth Services LLC acquired a new stake in shares of Eaton Vance California Municipal Income Trust during the 1st quarter worth approximately $335,000. Finally, Napa Wealth Management bought a new stake in shares of Eaton Vance California Municipal Income Trust during the fourth quarter worth approximately $665,000. 35.88% of the stock is owned by institutional investors and hedge funds.

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.