Eaton Vance California Municipal Income Trust (NYSE:CEV) Trading Up 0.1% – What’s Next?

Eaton Vance California Municipal Income Trust (NYSE:CEV) shares traded up 0.1% on Tuesday . The company traded as high as $10.39 and last traded at $10.36. Approximately 17,466 shares were traded during mid-day trading, a decline of 20% from the average daily volume of 21,751 shares. The stock had previously closed at $10.35.

Eaton Vance California Municipal Income Trust Stock Performance

The company has a 50-day simple moving average of $10.28 and a 200-day simple moving average of $10.29.

Eaton Vance California Municipal Income Trust Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Wednesday, June 24th. Investors of record on Friday, June 12th will be paid a $0.05 dividend. The ex-dividend date is Friday, June 12th. This represents a c) dividend on an annualized basis and a dividend yield of 5.8%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CEV. Rockefeller Capital Management L.P. raised its position in Eaton Vance California Municipal Income Trust by 58.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 110,426 shares of the company’s stock worth $1,109,000 after acquiring an additional 40,826 shares in the last quarter. Evolve Private Wealth LLC purchased a new stake in shares of Eaton Vance California Municipal Income Trust during the 4th quarter worth $240,000. Wells Fargo & Company MN grew its stake in shares of Eaton Vance California Municipal Income Trust by 9.2% during the 4th quarter. Wells Fargo & Company MN now owns 50,702 shares of the company’s stock worth $509,000 after purchasing an additional 4,262 shares during the period. Concorde Asset Management LLC acquired a new position in shares of Eaton Vance California Municipal Income Trust during the 4th quarter worth $100,000. Finally, Wedbush Securities Inc. increased its holdings in shares of Eaton Vance California Municipal Income Trust by 147.4% in the 4th quarter. Wedbush Securities Inc. now owns 33,897 shares of the company’s stock valued at $340,000 after purchasing an additional 20,197 shares in the last quarter. Institutional investors and hedge funds own 35.88% of the company’s stock.

About Eaton Vance California Municipal Income Trust

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.