Saba Capital Management, L.P. Sells 25,913 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 25,913 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were 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 $8,249,468.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Major shareholders that own 10% or more of a company’s shares 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 shares were sold at an average price of $11.02, for a total transaction 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 transaction of $261,024.95.

Eaton Vance California Municipal Income Trust Price Performance

Shares of NYSE CEV opened at $10.80 on Friday. Eaton Vance California Municipal Income Trust has a twelve month low of $8.83 and a twelve month high of $11.29. The firm has a 50-day moving average of $10.97 and a two-hundred day moving average of $10.78.

Eaton Vance California Municipal Income Trust Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, October 18th. Shareholders of record on Friday, October 11th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a $0.60 annualized dividend and a yield of 5.56%.

Institutional Trading of Eaton Vance California Municipal Income Trust

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Cypress Wealth Services LLC acquired a new stake in Eaton Vance California Municipal Income Trust during the 1st quarter worth about $335,000. Sanctuary Advisors LLC acquired a new stake in Eaton Vance California Municipal Income Trust during the 2nd quarter worth about $328,000. Hennion & Walsh Asset Management Inc. raised its holdings 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 buying an additional 41,944 shares during the period. Finally, Napa Wealth Management acquired a new stake in Eaton Vance California Municipal Income Trust during the 4th quarter worth about $665,000. 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.