Eaton Vance California Municipal Income Trust (NYSE:CEV) Trading 0.8% Higher – Here’s What Happened

Eaton Vance California Municipal Income Trust (NYSE:CEV) shares were up 0.8% during mid-day trading on Tuesday . The stock 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 Performance

The company has a 50-day simple moving average of $10.27 and a two-hundred day simple moving average of $10.14.

Eaton Vance California Municipal Income Trust Announces Dividend

The company also recently declared a monthly dividend, which was paid on Tuesday, February 24th. Shareholders of record on Friday, February 13th were paid a $0.05 dividend. The ex-dividend date was Friday, February 13th. This represents a c) dividend on an annualized basis and a yield of 5.7%.

Institutional Trading of Eaton Vance California Municipal Income Trust

A number of hedge funds have recently made changes to their positions in CEV. Royal Bank of Canada lifted its holdings in Eaton Vance California Municipal Income Trust by 2.9% during the 1st quarter. Royal Bank of Canada now owns 57,933 shares of the company’s stock valued at $581,000 after purchasing an additional 1,630 shares during the last quarter. WESCAP Management Group Inc. bought a new stake in Eaton Vance California Municipal Income Trust in the 2nd quarter valued at $570,000. Northwestern Mutual Wealth Management Co. acquired a new position in Eaton Vance California Municipal Income Trust in the 2nd quarter valued at $52,000. Raymond James Financial Inc. grew its holdings in Eaton Vance California Municipal Income Trust by 7.5% in the 2nd quarter. Raymond James Financial Inc. now owns 51,580 shares of the company’s stock valued at $500,000 after buying an additional 3,606 shares in the last quarter. Finally, Osaic Holdings Inc. increased its position in Eaton Vance California Municipal Income Trust by 400.0% during the 2nd quarter. Osaic Holdings Inc. now owns 10,000 shares of the company’s stock worth $97,000 after buying an additional 8,000 shares during the period. 35.88% of the stock is owned by institutional investors and hedge funds.

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.