Eaton Vance California Municipal Income Trust (NYSE:CEV) Shares Down 0.6% – Time to Sell?

Shares of Eaton Vance California Municipal Income Trust (NYSE:CEV) were down 0.6% on Friday. The company traded as low as $10.29 and last traded at $10.34. Approximately 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 company’s fifty day moving average is $10.34 and its two-hundred day moving average is $10.33.

Eaton Vance California Municipal Income Trust Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, October 26th. Stockholders of record on Wednesday, October 14th 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 5.8%. The ex-dividend date of this dividend is Wednesday, October 14th.

Institutional Trading of Eaton Vance California Municipal Income Trust

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

About Eaton Vance California Municipal Income Trust

Eaton Vance California Municipal Income Trust (NYSE: CEV) is a closed-end investment company that seeks to provide current income exempt from regular federal income tax and California personal income tax. The fund is designed primarily for investors seeking tax-advantaged income rather than direct ownership of operating businesses.

CEV invests principally in municipal obligations issued by the state of California, its municipalities, and related public entities. Its portfolio may include bonds and other debt securities used to finance public infrastructure and essential services, such as schools, transportation systems, utilities, and healthcare facilities.