Saba Capital Management, L.P. Sells 19,170 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 19,170 shares of the firm’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $10.86, for a total transaction of $208,186.20. Following the transaction, the insider now directly owns 737,662 shares in the company, valued at $8,011,009.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own 10% or more 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 Tuesday, October 1st, Saba Capital Management, L.P. sold 25,913 shares of Eaton Vance California Municipal Income Trust stock. The stock was 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 stock was 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 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 Performance

CEV opened at $10.72 on Wednesday. Eaton Vance California Municipal Income Trust has a fifty-two week low of $8.83 and a fifty-two week high of $11.29. The firm has a 50-day moving average of $10.96 and a 200 day moving average of $10.79.

Eaton Vance California Municipal Income Trust Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, October 18th. Stockholders of record on Friday, October 11th will be given a dividend of $0.05 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.60%. The ex-dividend date is Friday, October 11th.

Institutional Investors Weigh In On Eaton Vance California Municipal Income Trust

Large investors have recently modified their holdings of the stock. Cypress Wealth Services LLC purchased a new stake in Eaton Vance California Municipal Income Trust in the first quarter worth $335,000. Sanctuary Advisors LLC bought a new position in shares of Eaton Vance California Municipal Income Trust during the 2nd quarter worth $328,000. Napa Wealth Management purchased a new stake in Eaton Vance California Municipal Income Trust in the 4th quarter worth about $665,000. Finally, Hennion & Walsh Asset Management Inc. raised its stake in Eaton Vance California Municipal Income Trust by 49.5% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 126,629 shares of the company’s stock valued at $1,344,000 after acquiring an additional 41,944 shares during the period. Hedge funds and other institutional investors 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.