Insider Selling: Eaton Vance California Municipal Income Trust (NYSE:CEV) Major Shareholder Sells 15,017 Shares of Stock

Eaton Vance California Municipal Income Trust (NYSE:CEV) major shareholder Saba Capital Management, L.P. sold 15,017 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $10.83, for a total value of $162,634.11. Following the transaction, the insider now owns 836,608 shares of the company’s stock, valued at $9,060,464.64. The transaction was disclosed in a filing with the SEC, which is available at 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 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 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 Trading Down 0.1 %

NYSE:CEV opened at $10.80 on Friday. Eaton Vance California Municipal Income Trust has a one year low of $8.83 and a one year high of $11.29. The stock has a 50-day simple moving average of $10.98 and a 200 day simple moving average of $10.77.

Eaton Vance California Municipal Income Trust Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 13th were given a $0.05 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.60 annualized dividend and a dividend yield of 5.56%.

Institutional Investors Weigh In On Eaton Vance California Municipal Income Trust

Several institutional investors and hedge funds have recently made changes to their positions in the company. Hennion & Walsh Asset Management Inc. increased its stake in Eaton Vance California Municipal Income Trust by 37.5% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 174,143 shares of the company’s stock valued at $1,895,000 after purchasing an additional 47,514 shares during the last quarter. Napa Wealth Management bought a new position in shares of Eaton Vance California Municipal Income Trust in the 4th quarter worth about $665,000. Cypress Wealth Services LLC acquired a new position in shares of Eaton Vance California Municipal Income Trust in the 1st quarter valued at about $335,000. Finally, Sanctuary Advisors LLC bought a new stake in shares of Eaton Vance California Municipal Income Trust during the 2nd quarter valued at about $328,000. 35.88% of the stock is owned by institutional investors and hedge funds.

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.