Saba Capital Management, L.P. Sells 21,340 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 21,340 shares of Eaton Vance California Municipal Income Trust stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $10.80, for a total value of $230,472.00. Following the sale, the insider now directly owns 804,788 shares of the company’s stock, valued at approximately $8,691,710.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Large 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 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 shares were 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 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 Price Performance

Shares of Eaton Vance California Municipal Income Trust stock opened at $10.88 on Wednesday. The firm has a fifty day moving average price of $10.98 and a 200 day moving average price of $10.78. Eaton Vance California Municipal Income Trust has a 1 year low of $8.83 and a 1 year high of $11.29.

Eaton Vance California Municipal Income Trust Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 13th were issued a $0.05 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.60 annualized dividend and a dividend yield of 5.51%.

Institutional Trading of Eaton Vance California Municipal Income Trust

Several hedge funds and other institutional investors have recently bought and sold shares of CEV. Napa Wealth Management acquired a new position in Eaton Vance California Municipal Income Trust in the fourth quarter valued at approximately $665,000. Hennion & Walsh Asset Management Inc. lifted its stake in shares of Eaton Vance California Municipal Income Trust by 37.5% in the 2nd 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 period. Sanctuary Advisors LLC purchased a new stake in Eaton Vance California Municipal Income Trust during the second quarter worth $328,000. Finally, Cypress Wealth Services LLC acquired a new stake in Eaton Vance California Municipal Income Trust during the first quarter valued at $335,000. 35.88% of the stock is owned by institutional investors and hedge funds.

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.