Wolverine Asset Management LLC Takes Position in Eaton Vance California Municipal Income Trust (NYSE:CEV)

Wolverine Asset Management LLC bought a new position in shares of Eaton Vance California Municipal Income Trust (NYSE:CEV) in the 3rd quarter, Holdings Channel.com reports. The firm bought 16,829 shares of the company’s stock, valued at approximately $183,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hennion & Walsh Asset Management Inc. boosted its stake in Eaton Vance California Municipal Income Trust by 9.3% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 190,276 shares of the company’s stock worth $2,068,000 after purchasing an additional 16,133 shares during the period. Cypress Wealth Services LLC lifted its holdings in shares of Eaton Vance California Municipal Income Trust by 73.8% in the third quarter. Cypress Wealth Services LLC now owns 55,454 shares of the company’s stock worth $603,000 after buying an additional 23,539 shares in the last quarter. Finally, Sanctuary Advisors LLC bought a new position in shares of Eaton Vance California Municipal Income Trust during the second quarter worth $328,000. Institutional investors own 35.88% of the company’s stock.

Eaton Vance California Municipal Income Trust Trading Up 0.6 %

Shares of NYSE CEV opened at $10.42 on Friday. Eaton Vance California Municipal Income Trust has a 52-week low of $9.56 and a 52-week high of $11.29. The firm’s fifty day moving average is $10.72 and its two-hundred day moving average is $10.81.

Eaton Vance California Municipal Income Trust Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, November 18th. Investors of record on Monday, November 11th will be given a $0.05 dividend. The ex-dividend date is Friday, November 8th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.76%.

Insider Activity at Eaton Vance California Municipal Income Trust

In related news, major shareholder Saba Capital Management, L.P. sold 23,665 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $11.03, for a total transaction of $261,024.95. Following the sale, the insider now owns 938,547 shares of the company’s stock, valued at $10,352,173.41. This represents a 2.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders sold 188,134 shares of company stock valued at $2,046,247.

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.