Insider Selling: Eaton Vance California Municipal Income Trust (NYSE:CEV) Major Shareholder Sells $312,346.98 in Stock

Eaton Vance California Municipal Income Trust (NYSE:CEV) major shareholder Saba Capital Management, L.P. sold 28,682 shares of the firm’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $10.89, for a total value 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 $9,612,352.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s stock 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 stock was 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 shares were sold at an average price of $11.03, for a total value of $261,024.95.

Eaton Vance California Municipal Income Trust Trading Up 0.3 %

Shares of NYSE:CEV opened at $10.86 on Friday. The company has a 50-day moving average price of $11.00 and a two-hundred day moving average price of $10.76. Eaton Vance California Municipal Income Trust has a twelve month low of $8.83 and a twelve month high of $11.29.

Eaton Vance California Municipal Income Trust Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 13th were paid a $0.05 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.60 dividend on an annualized basis and a yield of 5.52%.

Institutional Investors Weigh In On Eaton Vance California Municipal Income Trust

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