Short Interest in Eaton Vance California Municipal Income Trust (NYSE:CEV) Drops By 20.7%

Key Points

• Eaton Vance California Municipal Income Trust (NYSE:CEV) experienced a **20.7% decline** in short interest during August, dropping from 17,400 shares to 13,800 shares.
• Institutional investors have significantly increased their positions, with **Osaic Holdings Inc. increasing its holdings by 400%**, now owning 10,000 shares valued at $97,000.
• The company announced a monthly dividend of **$0.05 per share**, which will be paid on September 24th, representing a **6.0% annualized yield** for investors of record as of September 12th.

Eaton Vance California Municipal Income Trust (NYSE:CEV - Get Free Report) saw a large decrease in short interest in the month of August. As of August 31st, there was short interest totaling 13,800 shares, a decrease of 20.7% from the August 15th total of 17,400 shares. Based on an average daily volume of 47,600 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.2% of the company's stock are sold short. Approximately 0.2% of the company's stock are sold short. Based on an average daily volume of 47,600 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Whipplewood Advisors LLC increased its holdings in shares of Eaton Vance California Municipal Income Trust by 435.6% in the 1st quarter. Whipplewood Advisors LLC now owns 89,994 shares of the company's stock valued at $902,000 after acquiring an additional 73,190 shares during the last quarter. Wolverine Asset Management LLC increased its holdings in shares of Eaton Vance California Municipal Income Trust by 59.8% in the 1st quarter. Wolverine Asset Management LLC now owns 95,569 shares of the company's stock valued at $958,000 after acquiring an additional 35,757 shares during the last quarter. Landscape Capital Management L.L.C. purchased a new position in shares of Eaton Vance California Municipal Income Trust in the 1st quarter valued at about $126,000. Almitas Capital LLC increased its position in Eaton Vance California Municipal Income Trust by 41.1% during the first quarter. Almitas Capital LLC now owns 61,330 shares of the company's stock worth $615,000 after buying an additional 17,865 shares during the period. Finally, Plancorp LLC acquired a new position in Eaton Vance California Municipal Income Trust during the first quarter worth approximately $200,000. Hedge funds and other institutional investors own 35.88% of the company's stock.

Eaton Vance California Municipal Income Trust Price Performance

NYSE CEV remained flat at $10.02 during trading hours on Monday. The company's stock had a trading volume of 54,893 shares, compared to its average volume of 38,288. The company's 50-day simple moving average is $9.60 and its 200 day simple moving average is $9.70. Eaton Vance California Municipal Income Trust has a 12 month low of $9.31 and a 12 month high of $10.92.

Eaton Vance California Municipal Income Trust Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Friday, September 12th will be issued a dividend of $0.05 per share. The ex-dividend date is Friday, September 12th. This represents a c) annualized dividend and a yield of 6.0%.

About Eaton Vance California Municipal Income Trust

Eaton Vance California Municipal Income Trust is a close ended fixed income mutual fund launched and managed by Eaton Vance Management. It invests in the fixed income markets. The fund invests primarily in debt securities issued by education, hospital, housing, insured-education, insured-electric utilities, insured-hospital, insured-transportation, insured-water and sewer, transportation, and other sectors.