Eaton Vance California Municipal Income Trust (NYSE:CEV) Shares Up 1.2% – Should You Buy?

Eaton Vance California Municipal Income Trust (NYSE:CEV)’s share price rose 1.2% during trading on Wednesday . The company traded as high as $10.20 and last traded at $10.20. Approximately 28,798 shares were traded during mid-day trading, an increase of 26% from the average daily volume of 22,859 shares. The stock had previously closed at $10.08.

Eaton Vance California Municipal Income Trust Stock Up 1.2%

The company has a fifty day moving average of $10.38 and a 200 day moving average of $10.34.

Eaton Vance California Municipal Income Trust Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Monday, September 14th will be given a $0.05 dividend. The ex-dividend date is Monday, September 14th. This represents a c) dividend on an annualized basis and a dividend yield of 5.9%.

Institutional Investors Weigh In On Eaton Vance California Municipal Income Trust

Institutional investors have recently modified their holdings of the company. Pasadena Private Wealth LLC acquired a new stake in shares of Eaton Vance California Municipal Income Trust during the fourth quarter worth $100,000. Wedbush Securities Inc. raised its stake in Eaton Vance California Municipal Income Trust by 25.2% during the second quarter. Wedbush Securities Inc. now owns 65,750 shares of the company’s stock worth $692,000 after buying an additional 13,253 shares during the last quarter. Finally, Rockefeller Capital Management L.P. lifted its holdings 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 valued at $1,109,000 after buying an additional 40,826 shares during the period. 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 current income exempt from regular federal income tax and California state personal income tax. The fund is designed primarily for investors seeking tax-advantaged income through a professionally managed portfolio of municipal securities.

The trust invests predominantly in debt obligations issued by or on behalf of the state of California, its municipalities, and other public authorities.