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

Shares of Eaton Vance California Municipal Income Trust (NYSE:CEV) fell 0.4% during mid-day trading on Thursday . The stock traded as low as $10.16 and last traded at $10.23. Approximately 47,636 shares were traded during 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 Trading Down 0.4%

The stock has a 50-day moving average price of $10.36 and a 200 day moving average price of $10.33.

Eaton Vance California Municipal Income Trust Announces Dividend

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CEV. Northwestern Mutual Wealth Management Co. purchased a new stake in Eaton Vance California Municipal Income Trust in the second quarter valued at approximately $52,000. US Bancorp DE purchased a new position in shares of Eaton Vance California Municipal Income Trust during the third quarter worth approximately $83,000. Osaic Holdings Inc. grew its position in shares of Eaton Vance California Municipal Income Trust by 400.0% during the second quarter. Osaic Holdings Inc. now owns 10,000 shares of the company’s stock worth $97,000 after acquiring an additional 8,000 shares during the last quarter. Pasadena Private Wealth LLC acquired a new position in shares of Eaton Vance California Municipal Income Trust in the 4th quarter valued at $100,000. Finally, Concorde Asset Management LLC acquired a new position in shares of Eaton Vance California Municipal Income Trust in the 4th quarter valued at $100,000. Institutional investors and hedge funds own 35.88% of the company’s stock.

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.