Eaton Vance California Municipal Income Trust (NYSE:CEV) Trading Up 1.2% – Should You Buy?

Eaton Vance California Municipal Income Trust (NYSE:CEV)’s share price shot up 1.2% during mid-day trading on Wednesday . The stock traded as high as $10.20 and last traded at $10.20. Approximately 28,798 shares traded hands during mid-day trading, an increase of 26% from the average daily volume of 22,859 shares. The stock had previously closed at $10.08.

Eaton Vance California Municipal Income Trust Trading Up 1.2%

The firm’s 50-day moving average is $10.38 and its 200 day moving average is $10.34.

Eaton Vance California Municipal Income Trust Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Monday, September 14th will be issued a dividend of $0.05 per share. This represents a c) dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date is Monday, September 14th.

Institutional Trading of Eaton Vance California Municipal Income Trust

Several institutional investors have recently modified their holdings of the business. Pasadena Private Wealth LLC acquired a new stake in Eaton Vance California Municipal Income Trust in the fourth quarter valued at $100,000. Wedbush Securities Inc. lifted its holdings in Eaton Vance California Municipal Income Trust by 25.2% during the 2nd quarter. Wedbush Securities Inc. now owns 65,750 shares of the company’s stock worth $692,000 after buying an additional 13,253 shares during the period. Finally, Rockefeller Capital Management L.P. grew its position in shares of Eaton Vance California Municipal Income Trust by 58.7% in the 4th quarter. Rockefeller Capital Management L.P. now owns 110,426 shares of the company’s stock valued at $1,109,000 after buying an additional 40,826 shares during the last quarter. Institutional investors own 35.88% of the company’s stock.

About Eaton Vance California Municipal Income Trust

Eaton Vance California Municipal Income Trust is a closed-end management investment company that seeks to provide current income exempt from regular federal income tax and California state personal income tax. The fund is designed primarily for investors seeking tax-advantaged income through a professionally managed portfolio of municipal securities.

The trust invests predominantly in debt obligations issued by or on behalf of the state of California, its municipalities, and other public authorities.