Insider Selling: Eaton Vance California Municipal Income Trust (NYSE:CEV) Major Shareholder Sells $261,024.95 in 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 dated Friday, September 13th. The shares were sold at an average price of $11.03, for a total transaction of $261,024.95. Following the completion of the transaction, the insider now directly owns 938,547 shares in the company, valued at $10,352,173.41. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s stock 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 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 Price Performance

Eaton Vance California Municipal Income Trust stock opened at $10.89 on Thursday. Eaton Vance California Municipal Income Trust has a twelve month low of $8.83 and a twelve month 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 Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 13th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.60 annualized dividend and a dividend yield of 5.51%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Hennion & Walsh Asset Management Inc. increased its holdings in shares of Eaton Vance California Municipal Income Trust by 37.5% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 174,143 shares of the company’s stock worth $1,895,000 after purchasing an additional 47,514 shares during the period. Napa Wealth Management bought a new position in shares of Eaton Vance California Municipal Income Trust during the fourth quarter worth approximately $665,000. Cypress Wealth Services LLC bought a new position in shares of Eaton Vance California Municipal Income Trust during the first quarter worth approximately $335,000. Blue Bell Private Wealth Management LLC boosted its position in shares of Eaton Vance California Municipal Income Trust by 65.8% during the 1st quarter. Blue Bell Private Wealth Management LLC now owns 17,881 shares of the company’s stock worth $190,000 after acquiring an additional 7,096 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new stake in shares of Eaton Vance California Municipal Income Trust during the 2nd quarter worth approximately $328,000. 35.88% of the stock is 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.