Eaton Vance California Municipal Income Trust (NYSE:CEV) Major Shareholder Sells $126,763.06 in Stock

Eaton Vance California Municipal Income Trust (NYSE:CEV) major shareholder Saba Capital Management, L.P. sold 11,503 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $11.02, for a total value of $126,763.06. Following the completion of the transaction, the insider now directly owns 927,044 shares in the company, valued at approximately $10,216,024.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s shares 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 shares were sold at an average price of $11.03, for a total transaction of $261,024.95.

Eaton Vance California Municipal Income Trust Stock Performance

NYSE CEV traded up $0.01 during trading on Tuesday, hitting $11.00. 10,682 shares of the stock traded hands, compared to its average volume of 17,805. 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 50-day simple moving average of $11.01 and a 200-day simple moving average of $10.75.

Eaton Vance California Municipal Income Trust Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 13th will be issued a $0.05 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.45%. The ex-dividend date is Friday, September 13th.

Institutional Trading of Eaton Vance California Municipal Income Trust

A number of large investors have recently made changes to their positions in the business. Sanctuary Advisors LLC purchased a new stake in Eaton Vance California Municipal Income Trust during the second quarter valued at approximately $328,000. 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 purchasing an additional 47,514 shares during the period. Cypress Wealth Services LLC purchased a new stake in Eaton Vance California Municipal Income Trust in the 1st quarter worth about $335,000. Finally, Napa Wealth Management bought a new position in shares of Eaton Vance California Municipal Income Trust during the fourth quarter valued at approximately $665,000. 35.88% of the stock is currently owned by institutional investors.

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.