Eaton Vance California Municipal Income Trust (NYSE:CEV) Short Interest Update

Key Points

• The short interest in Eaton Vance California Municipal Income Trust (NYSE: CEV) decreased by 27.8% in August, falling from 24,100 shares to 17,400 shares.
• Institutional investors own 35.88% of the stock, with significant recent increases from firms like Whipplewood Advisors LLC and Wolverine Asset Management LLC.
• Eaton Vance California Municipal Income Trust announced a monthly dividend of $0.05 per share, with a yield of 6.1%, to be paid on September 24th.

Eaton Vance California Municipal Income Trust (NYSE:CEV - Get Free Report) was the recipient of a significant drop in short interest during the month of August. As of August 15th, there was short interest totaling 17,400 shares, a drop of 27.8% from the July 31st total of 24,100 shares. Based on an average daily volume of 43,500 shares, the short-interest ratio is currently 0.4 days. Based on an average daily volume of 43,500 shares, the short-interest ratio is currently 0.4 days.

Eaton Vance California Municipal Income Trust Price Performance

CEV traded down $0.04 during trading on Friday, reaching $9.91. 29,842 shares of the stock traded hands, compared to its average volume of 37,461. Eaton Vance California Municipal Income Trust has a fifty-two week low of $9.31 and a fifty-two week high of $11.11. The stock's 50-day simple moving average is $9.56 and its two-hundred day simple moving average is $9.72.

Eaton Vance California Municipal Income Trust Announces Dividend

The business also recently announced 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. This represents a c) annualized dividend and a yield of 6.1%. The ex-dividend date is Friday, September 12th.

Hedge Funds Weigh In On Eaton Vance California Municipal Income Trust

Several institutional investors have recently bought and sold shares of CEV. Nomura Holdings Inc. bought a new position in Eaton Vance California Municipal Income Trust during the fourth quarter valued at about $151,000. Whipplewood Advisors LLC raised its holdings in Eaton Vance California Municipal Income Trust by 435.6% during the first quarter. Whipplewood Advisors LLC now owns 89,994 shares of the company's stock valued at $902,000 after buying an additional 73,190 shares in the last quarter. Wolverine Asset Management LLC raised its holdings in Eaton Vance California Municipal Income Trust by 59.8% during the first quarter. Wolverine Asset Management LLC now owns 95,569 shares of the company's stock valued at $958,000 after buying an additional 35,757 shares in the last quarter. Landscape Capital Management L.L.C. bought a new position in shares of Eaton Vance California Municipal Income Trust in the first quarter worth about $126,000. Finally, Royal Bank of Canada increased its stake in shares of 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 worth $581,000 after purchasing an additional 1,630 shares during the period. 35.88% of the stock is currently owned by institutional investors.

Eaton Vance California Municipal Income Trust Company Profile

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.