Eaton Vance California Municipal Income Trust (NYSE:CEV) Stock Falls 0.6% – Here’s What Happened

Eaton Vance California Municipal Income Trust (NYSE:CEV) fell 0.6% during trading on Friday. The stock traded as low as $10.29 and last traded at $10.34. 7,395 shares changed hands during trading, a decline of 70% from the average session volume of 24,437 shares. The stock had previously closed at $10.40.

Eaton Vance California Municipal Income Trust Trading Down 0.6%

The firm has a fifty day moving average price of $10.34 and a 200 day moving average price of $10.33.

Eaton Vance California Municipal Income Trust Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, October 26th. Shareholders of record on Wednesday, October 14th will be issued a $0.05 dividend. This represents a $0.60 annualized dividend and a yield of 5.8%. The ex-dividend date of this dividend is Wednesday, October 14th.

Hedge Funds Weigh In On Eaton Vance California Municipal Income Trust

Several hedge funds have recently made changes to their positions in the company. Wedbush Securities Inc. lifted its stake in Eaton Vance California Municipal Income Trust by 71.5% during the 3rd quarter. Wedbush Securities Inc. now owns 112,750 shares of the company’s stock valued at $1,143,000 after acquiring an additional 47,000 shares during the period. Rockefeller Capital Management L.P. boosted its holdings in shares of Eaton Vance California Municipal Income Trust by 58.7% in the 4th quarter. Rockefeller Capital Management L.P. now owns 110,426 shares of the company’s stock valued at $1,109,000 after acquiring an additional 40,826 shares during the last quarter. Finally, Cypress Wealth Services LLC increased its stake in shares of Eaton Vance California Municipal Income Trust by 22.7% in the third quarter. Cypress Wealth Services LLC now owns 77,865 shares of the company’s stock worth $797,000 after acquiring an additional 14,389 shares during the period. 35.88% of the stock is owned by institutional investors and hedge funds.

Eaton Vance California Municipal Income Trust Company Profile

Eaton Vance California Municipal Income Trust (NYSE: CEV) is a closed-end investment company designed to provide current income that is exempt from regular federal income tax and California personal income tax. The trust invests primarily in municipal obligations issued by or on behalf of municipalities and other public entities in California.

Its portfolio may include a range of tax-exempt securities used to finance public infrastructure and essential services, such as schools, transportation systems, utilities, health care facilities and other governmental projects.