Eaton Vance California Municipal Income Trust (NYSE:CEV) Shares Up 0.3% – Still a Buy?

Eaton Vance California Municipal Income Trust (NYSE:CEV) rose 0.3% on Tuesday . The company traded as high as $10.19 and last traded at $10.1350. Approximately 39,761 shares changed hands during mid-day trading, an increase of 10% from the average daily volume of 36,097 shares. The stock had previously closed at $10.10.

Eaton Vance California Municipal Income Trust Stock Performance

The stock has a 50-day moving average price of $10.33 and a 200-day moving average price of $9.92.

Eaton Vance California Municipal Income Trust Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Wednesday, December 24th. Shareholders of record on Friday, December 12th were paid a $0.05 dividend. This represents a c) dividend on an annualized basis and a yield of 5.9%. The ex-dividend date of this dividend was Friday, December 12th.

Institutional Trading of Eaton Vance California Municipal Income Trust

A number of hedge funds have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. purchased a new position in Eaton Vance California Municipal Income Trust in the second quarter worth $52,000. US Bancorp DE bought a new stake in Eaton Vance California Municipal Income Trust during the third quarter worth about $83,000. Osaic Holdings Inc. boosted its holdings in shares of Eaton Vance California Municipal Income Trust by 400.0% in the 2nd quarter. Osaic Holdings Inc. now owns 10,000 shares of the company’s stock worth $97,000 after purchasing an additional 8,000 shares in the last quarter. Landscape Capital Management L.L.C. bought a new position in shares of Eaton Vance California Municipal Income Trust during the 1st quarter valued at about $126,000. Finally, Wedbush Securities Inc. purchased a new position in shares of Eaton Vance California Municipal Income Trust during the 3rd quarter valued at about $138,000. 35.88% of the stock is owned by institutional investors.

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.