Eaton Vance California Municipal Income Trust (NYSE:CEV) Shares Up 0.4% – Here’s Why

Eaton Vance California Municipal Income Trust (NYSE:CEV) shares traded up 0.4% during trading on Tuesday . The company traded as high as $10.16 and last traded at $10.1550. 15,946 shares traded hands during trading, a decline of 35% from the average session volume of 24,473 shares. The stock had previously closed at $10.11.

Eaton Vance California Municipal Income Trust Price Performance

The stock has a 50 day moving average price of $10.24 and a two-hundred day moving average price of $10.00.

Eaton Vance California Municipal Income Trust Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Monday, January 26th. Shareholders of record on Wednesday, January 14th were paid a $0.05 dividend. The ex-dividend date of this dividend was Wednesday, January 14th. This represents a c) annualized dividend and a yield of 5.9%.

Institutional Trading of Eaton Vance California Municipal Income Trust

Institutional investors and hedge funds have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Eaton Vance California Municipal Income Trust in the 2nd quarter valued at approximately $52,000. US Bancorp DE acquired a new position in Eaton Vance California Municipal Income Trust during the third quarter valued at approximately $83,000. Osaic Holdings Inc. increased its stake in Eaton Vance California Municipal Income Trust by 400.0% in the second quarter. Osaic Holdings Inc. now owns 10,000 shares of the company’s stock valued at $97,000 after purchasing an additional 8,000 shares in the last quarter. Wedbush Securities Inc. acquired a new stake in Eaton Vance California Municipal Income Trust in the third quarter worth $138,000. Finally, Wolverine Asset Management LLC boosted its position in shares of Eaton Vance California Municipal Income Trust by 126.7% during the third quarter. Wolverine Asset Management LLC now owns 21,521 shares of the company’s stock worth $217,000 after purchasing an additional 12,029 shares in the last quarter. 35.88% of the stock is owned by institutional investors.

Eaton Vance California Municipal Income Trust Company Profile

Eaton Vance California Municipal Income Trust is a closed-end management investment company that seeks to provide shareholders with a high level of current income exempt from regular federal income tax and California personal income tax. The trust primarily invests in investment-grade municipal securities issued by state and local governmental entities, with a portfolio focus on California debt obligations. Its tax-exempt income objective makes it a specialized option for investors in higher tax brackets seeking steady tax-advantaged distributions.

The trust’s portfolio typically includes a diversified mix of general obligation bonds, revenue bonds and essential-service obligations that finance public utilities, transportation, education and healthcare facilities within California.