Insider Selling: Eaton Vance California Municipal Income Trust (NYSE:CEV) Major Shareholder Sells 23,665 Shares of Stock

Eaton Vance California Municipal Income Trust (NYSE:CEV) major shareholder Saba Capital Management, L.P. sold 23,665 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $11.03, for a total transaction of $261,024.95. Following the sale, the insider now owns 938,547 shares in the company, valued at approximately $10,352,173.41. The transaction was disclosed in a document filed with the SEC, which is available at this link. Large 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 shares were sold at an average price of $11.02, for a total transaction of $126,763.06.

Eaton Vance California Municipal Income Trust Stock Performance

Shares of Eaton Vance California Municipal Income Trust stock opened at $10.89 on Thursday. 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 company’s 50 day moving average price is $11.00 and its two-hundred day moving average price is $10.75.

Eaton Vance California Municipal Income Trust Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 13th will be given a $0.05 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.60 dividend on an annualized basis and a yield of 5.51%.

Institutional Trading of Eaton Vance California Municipal Income Trust

A number of hedge funds have recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC acquired a new stake in Eaton Vance California Municipal Income Trust in the second quarter valued at approximately $328,000. Hennion & Walsh Asset Management Inc. boosted its position in Eaton Vance California Municipal Income Trust by 37.5% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 174,143 shares of the company’s stock valued at $1,895,000 after buying an additional 47,514 shares in the last quarter. Blue Bell Private Wealth Management LLC raised its stake in shares of Eaton Vance California Municipal Income Trust by 65.8% during the first quarter. Blue Bell Private Wealth Management LLC now owns 17,881 shares of the company’s stock valued at $190,000 after acquiring an additional 7,096 shares during the last quarter. Cypress Wealth Services LLC bought a new position in shares of Eaton Vance California Municipal Income Trust during the first quarter valued at $335,000. Finally, Napa Wealth Management bought a new position in shares of Eaton Vance California Municipal Income Trust during the fourth quarter valued at $665,000. Institutional investors and hedge funds own 35.88% of the company’s stock.

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.