Eaton Vance California Municipal Income Trust (NYSE:CEV) Major Shareholder Saba Capital Management, L.P. Sells 25,913 Shares

Eaton Vance California Municipal Income Trust (NYSE:CEV) major shareholder Saba Capital Management, L.P. sold 25,913 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $10.90, for a total transaction of $282,451.70. Following the completion of the sale, the insider now directly owns 756,832 shares of the company’s stock, valued at approximately $8,249,468.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Major shareholders that own 10% or more 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 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 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 shares were 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 stock was 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 value of $261,024.95.

Eaton Vance California Municipal Income Trust Price Performance

Shares of CEV stock opened at $10.86 on Friday. Eaton Vance California Municipal Income Trust has a 12-month low of $8.83 and a 12-month high of $11.29. The firm has a fifty day moving average of $10.98 and a 200-day moving average of $10.78.

Eaton Vance California Municipal Income Trust Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, October 18th. Shareholders of record on Friday, October 11th will be paid a $0.05 dividend. The ex-dividend date is Friday, October 11th. This represents a $0.60 annualized dividend and a yield of 5.52%.

Institutional Trading of Eaton Vance California Municipal Income Trust

Hedge funds and other institutional investors have recently modified their holdings of the stock. Hennion & Walsh Asset Management Inc. boosted its stake 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 worth $1,895,000 after acquiring an additional 47,514 shares during the period. Napa Wealth Management acquired a new stake in Eaton Vance California Municipal Income Trust during the 4th quarter valued at $665,000. Cypress Wealth Services LLC bought a new position in Eaton Vance California Municipal Income Trust during the first quarter worth $335,000. Finally, Sanctuary Advisors LLC acquired a new position in shares of Eaton Vance California Municipal Income Trust in the second quarter valued at $328,000. Institutional investors and hedge funds own 35.88% of the company’s stock.

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.