Eaton Vance California Municipal Income Trust (NYSE:CEV) Major Shareholder Saba Capital Management, L.P. Sells 28,682 Shares of Stock

Eaton Vance California Municipal Income Trust (NYSE:CEV) major shareholder Saba Capital Management, L.P. sold 28,682 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $10.89, for a total transaction of $312,346.98. Following the transaction, the insider now directly owns 882,677 shares of the company’s stock, valued at approximately $9,612,352.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large 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 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 shares were sold at an average price of $11.03, for a total value of $261,024.95.

Eaton Vance California Municipal Income Trust Price Performance

Shares of NYSE:CEV opened at $10.83 on Friday. Eaton Vance California Municipal Income Trust has a 1-year low of $8.83 and a 1-year high of $11.29. The business’s 50 day moving average is $11.00 and its 200-day moving average is $10.75.

Eaton Vance California Municipal Income Trust Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 13th will be paid a dividend of $0.05 per share. 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 5.54%.

Institutional Investors Weigh In On Eaton Vance California Municipal Income Trust

Institutional investors and hedge funds have recently bought and sold shares of the business. Hennion & Walsh Asset Management Inc. boosted its position in shares of 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 acquiring an additional 47,514 shares in the last quarter. Napa Wealth Management bought a new position in Eaton Vance California Municipal Income Trust during the fourth quarter worth about $665,000. Sanctuary Advisors LLC acquired a new stake in Eaton Vance California Municipal Income Trust during the second quarter valued at approximately $328,000. Finally, Cypress Wealth Services LLC bought a new stake in shares of Eaton Vance California Municipal Income Trust in the 1st quarter valued at approximately $335,000. 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.