Eaton Vance California Municipal Income Trust (NYSE:CEV) Shares Up 0.4% – Still a Buy?

Eaton Vance California Municipal Income Trust (NYSE:CEV) was up 0.4% during mid-day trading on Tuesday . The stock traded as high as $10.16 and last traded at $10.1550. Approximately 15,946 shares traded hands during trading, a decline of 35% from the average daily volume of 24,473 shares. The stock had previously closed at $10.11.

Eaton Vance California Municipal Income Trust Price Performance

The firm’s 50-day simple moving average is $10.24 and its two-hundred day simple moving average is $10.00.

Eaton Vance California Municipal Income Trust Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Monday, January 26th. Investors of record on Wednesday, January 14th were given a $0.05 dividend. This represents a c) annualized dividend and a yield of 5.9%. The ex-dividend date was Wednesday, January 14th.

Institutional Investors Weigh In On Eaton Vance California Municipal Income Trust

Hedge funds and other institutional investors have recently made changes to their positions in the company. WESCAP Management Group Inc. acquired a new stake in Eaton Vance California Municipal Income Trust in the second quarter worth about $570,000. Cypress Wealth Services LLC bought a new position in shares of Eaton Vance California Municipal Income Trust in the 2nd quarter valued at about $531,000. Atala Financial Inc grew its position in shares of Eaton Vance California Municipal Income Trust by 133.7% during the 4th quarter. Atala Financial Inc now owns 52,582 shares of the company’s stock worth $528,000 after buying an additional 30,082 shares during the period. US Bancorp DE bought a new stake in shares of Eaton Vance California Municipal Income Trust during the third quarter worth approximately $83,000. Finally, Osaic Holdings Inc. lifted its holdings in Eaton Vance California Municipal Income Trust by 400.0% in the second quarter. Osaic Holdings Inc. now owns 10,000 shares of the company’s stock valued at $97,000 after buying an additional 8,000 shares during the period. 35.88% of the stock is owned by institutional investors and hedge funds.

About Eaton Vance California Municipal Income Trust

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.