Eaton Vance California Municipal Income Trust (NYSE:CEV) Trading Down 0.4% - Time to Sell?

Key Points

• CEV shares slipped 0.4% on Thursday, trading between $10.16 and $10.23, with volume jumping to 47,636 shares — well above its average session volume.
• The trust recently declared a monthly dividend of $0.05 per share, payable July 24 to shareholders of record on July 14, implying an annualized yield of about 5.9%.
• Institutional investors have been adding to positions, including LPL Financial, Rockefeller Capital Management, and Atala Financial, while institutions and hedge funds now own 35.88% of the stock.

Eaton Vance California Municipal Income Trust (NYSE:CEV - Get Free Report) shares fell 0.4% on Thursday . The company traded as low as $10.16 and last traded at $10.23. 47,636 shares changed hands during mid-day trading, an increase of 115% from the average session volume of 22,182 shares. The stock had previously closed at $10.27.

Eaton Vance California Municipal Income Trust Stock Performance

The business's 50 day moving average is $10.36 and its 200 day moving average is $10.33.

Eaton Vance California Municipal Income Trust Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, July 24th. Shareholders of record on Tuesday, July 14th will be paid a $0.05 dividend. The ex-dividend date is Tuesday, July 14th. This represents a c) dividend on an annualized basis and a yield of 5.9%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CEV. LPL Financial LLC increased its holdings in shares of Eaton Vance California Municipal Income Trust by 34.7% in the 4th quarter. LPL Financial LLC now owns 140,685 shares of the company's stock valued at $1,412,000 after acquiring an additional 36,248 shares during the last quarter. Rockefeller Capital Management L.P. lifted its stake in 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. Cypress Wealth Services LLC boosted its holdings in Eaton Vance California Municipal Income Trust by 5.1% in the fourth quarter. Cypress Wealth Services LLC now owns 58,230 shares of the company's stock valued at $585,000 after purchasing an additional 2,831 shares in the last quarter. Royal Bank of Canada boosted its holdings in Eaton Vance California Municipal Income Trust by 2.9% in the first 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 in the last quarter. Finally, Atala Financial Inc increased its stake in Eaton Vance California Municipal Income Trust by 133.7% in the fourth quarter. Atala Financial Inc now owns 52,582 shares of the company's stock valued at $528,000 after purchasing an additional 30,082 shares during the last quarter. 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.

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