Saba Capital Management, L.P. Sells 11,503 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 11,503 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $11.02, for a total transaction of $126,763.06. Following the transaction, the insider now directly owns 927,044 shares in the company, valued at $10,216,024.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Large shareholders that own 10% or more 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 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

CEV opened at $10.89 on Thursday. The company’s 50-day moving average is $11.00 and its 200 day moving average is $10.75. Eaton Vance California Municipal Income Trust has a fifty-two week low of $8.83 and a fifty-two week high of $11.29.

Eaton Vance California Municipal Income Trust Announces Dividend

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Cypress Wealth Services LLC bought a new stake in Eaton Vance California Municipal Income Trust in the first quarter worth about $335,000. Sanctuary Advisors LLC bought a new stake in Eaton Vance California Municipal Income Trust in the second quarter worth about $328,000. Napa Wealth Management bought a new stake in Eaton Vance California Municipal Income Trust in the fourth quarter worth about $665,000. Finally, Hennion & Walsh Asset Management Inc. raised its position in Eaton Vance California Municipal Income Trust by 49.5% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 126,629 shares of the company’s stock worth $1,344,000 after acquiring an additional 41,944 shares during the period. 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.