Short Interest in Eaton Vance California Municipal Income Trust (NYSE:CEV) Drops By 27.8%

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 - ) was the recipient of a large drop in short interest in August. As of August 15th, there was short interest totaling 17,400 shares, adropof27.8% from the July 31st total of 24,100 shares. Based on an average trading volume of 43,500 shares, the days-to-cover ratio is presently 0.4 days. Based on an average trading volume of 43,500 shares, the days-to-cover ratio is presently 0.4 days.

Institutional Inflows and Outflows

Several hedge funds and other 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 4th quarter worth approximately $151,000. Whipplewood Advisors LLC boosted its stake in Eaton Vance California Municipal Income Trust by 435.6% during the 1st quarter. Whipplewood Advisors LLC now owns 89,994 shares of the company's stock worth $902,000 after acquiring an additional 73,190 shares during the last quarter. Wolverine Asset Management LLC increased its stake in Eaton Vance California Municipal Income Trust by 59.8% during the 1st quarter. Wolverine Asset Management LLC now owns 95,569 shares of the company's stock worth $958,000 after purchasing an additional 35,757 shares in the last quarter. Landscape Capital Management L.L.C. bought a new stake in Eaton Vance California Municipal Income Trust during the 1st quarter worth approximately $126,000. Finally, Royal Bank of Canada boosted its holdings 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 valued at $581,000 after buying an additional 1,630 shares during the period. Institutional investors own 35.88% of the company's stock.

Eaton Vance California Municipal Income Trust Trading Up 1.7%

CEV traded up $0.16 during midday trading on Monday, hitting $9.79. The company had a trading volume of 81,933 shares, compared to its average volume of 37,380. Eaton Vance California Municipal Income Trust has a twelve month low of $9.31 and a twelve month high of $11.15. The firm's 50-day simple moving average is $9.55 and its 200-day simple moving average is $9.73.

Eaton Vance California Municipal Income Trust Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, September 24th. Investors of record on Friday, September 12th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, September 12th. This represents a c) annualized dividend and a yield of 6.1%.

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.

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