Insider Selling: Eaton Vance California Municipal Income Trust (NYSE:CEV) Major Shareholder Sells $58,795.00 in Stock

Posted by Jim Brewer on Oct 20th, 2024

Eaton Vance California Municipal Income Trust (NYSE:CEV – Get Free Report) major shareholder Saba Capital Management, L.P. sold 5,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $10.69, for a total value of $58,795.00. Following the completion of the sale, the insider now directly owns 726,369 shares in the company, valued at approximately $7,764,884.61. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Major shareholders that own at least 10% 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 Tuesday, October 8th, Saba Capital Management, L.P. sold 5,793 shares of Eaton Vance California Municipal Income Trust stock. The shares were sold at an average price of $10.79, for a total value of $62,506.47.
On Thursday, October 3rd, Saba Capital Management, L.P. sold 19,170 shares of Eaton Vance California Municipal Income Trust stock. The stock was sold at an average price of $10.86, for a total transaction of $208,186.20.
On Tuesday, October 1st, Saba Capital Management, L.P. sold 25,913 shares of Eaton Vance California Municipal Income Trust stock. The shares were sold at an average price of $10.90, for a total transaction of $282,451.70.
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 stock was sold at an average price of $10.83, for a total value 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 stock was sold at an average price of $10.89, for a total value 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 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 Stock Up 0.1 %

CEV stock opened at $10.81 on Friday. The company has a 50-day simple moving average of $10.90 and a 200 day simple moving average of $10.80. Eaton Vance California Municipal Income Trust has a fifty-two week low of $8.83 and a fifty-two week high of $11.29.

Eaton Vance California Municipal Income Trust Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Friday, October 18th. Stockholders of record on Friday, October 11th were paid a $0.05 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.55%. The ex-dividend date of this dividend was Friday, October 11th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CEV. Cypress Wealth Services LLC boosted its stake in Eaton Vance California Municipal Income Trust by 73.8% during the 3rd quarter. Cypress Wealth Services LLC now owns 55,454 shares of the company’s stock valued at $603,000 after purchasing an additional 23,539 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Eaton Vance California Municipal Income Trust in the 2nd quarter worth $328,000. Finally, Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Eaton Vance California Municipal Income Trust by 37.5% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 174,143 shares of the company’s stock valued at $1,895,000 after buying an additional 47,514 shares during the period. Institutional investors and hedge funds own 35.88% of the company’s stock.

About Eaton Vance California Municipal Income Trust

(Get Free Report)

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.