Eaton Vance California Municipal Income Trust (NYSE:CEV) Stock Price Up 0.8% – Here’s What Happened

Eaton Vance California Municipal Income Trust (NYSE:CEV)’s stock price rose 0.8% during mid-day trading on Tuesday . The company traded as high as $10.78 and last traded at $10.72. Approximately 17,850 shares were traded during trading, a decline of 17% from the average daily volume of 21,449 shares. The stock had previously closed at $10.63.

Eaton Vance California Municipal Income Trust Stock Up 0.8%

The firm’s fifty day moving average is $10.26 and its 200 day moving average is $10.13.

Eaton Vance California Municipal Income Trust Announces Dividend

The business also recently declared a monthly dividend, which was paid on Tuesday, February 24th. Investors of record on Friday, February 13th were given a dividend of $0.05 per share. This represents a c) annualized dividend and a dividend yield of 5.6%. The ex-dividend date was Friday, February 13th.

Hedge Funds Weigh In On Eaton Vance California Municipal Income Trust

Hedge funds have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Eaton Vance California Municipal Income Trust in the second quarter valued at approximately $52,000. US Bancorp DE acquired a new position in Eaton Vance California Municipal Income Trust in the 3rd quarter valued at $83,000. Osaic Holdings Inc. lifted its holdings in Eaton Vance California Municipal Income Trust by 400.0% in the 2nd 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. Concorde Asset Management LLC purchased a new position in Eaton Vance California Municipal Income Trust in the 4th quarter valued at $100,000. Finally, Pasadena Private Wealth LLC acquired a new stake in Eaton Vance California Municipal Income Trust during the 4th quarter worth $100,000. Institutional investors and hedge funds own 35.88% of the company’s stock.

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.