Saba Capital Management, L.P. Sells 28,682 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 28,682 shares of Eaton Vance California Municipal Income Trust stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $10.89, for a total transaction of $312,346.98. Following the completion of the sale, the insider now directly owns 882,677 shares of the company’s stock, valued at approximately $9,612,352.53. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Large 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 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 stock was 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 CEV opened at $10.86 on Friday. Eaton Vance California Municipal Income Trust has a 52 week low of $8.83 and a 52 week high of $11.29. The stock has a 50 day moving average price of $11.00 and a two-hundred day moving average price of $10.75.

Eaton Vance California Municipal Income Trust Announces Dividend

The business also recently declared a monthly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 13th were issued a dividend of $0.05 per share. The ex-dividend date was Friday, September 13th. This represents a $0.60 annualized dividend and a yield of 5.52%.

Hedge Funds Weigh In On Eaton Vance California Municipal Income Trust

Several large investors have recently bought and sold shares of the stock. Cypress Wealth Services LLC bought a new stake in shares of Eaton Vance California Municipal Income Trust in the 1st quarter worth $335,000. Sanctuary Advisors LLC purchased a new stake in Eaton Vance California Municipal Income Trust in the 2nd quarter valued at about $328,000. Napa Wealth Management bought a new position in shares of Eaton Vance California Municipal Income Trust during the 4th quarter worth approximately $665,000. Finally, Hennion & Walsh Asset Management Inc. boosted its stake in shares of 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 worth $1,344,000 after buying an additional 41,944 shares during the last quarter. 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.