Eaton Vance California Municipal Income Trust (NYSE:CEV) Trading Down 0.6% – Time to Sell?

Eaton Vance California Municipal Income Trust (NYSE:CEV) shares traded down 0.6% during trading on Monday . The stock traded as low as $10.40 and last traded at $10.4250. 21,036 shares changed hands during mid-day trading, a decline of 42% from the average session volume of 36,469 shares. The stock had previously closed at $10.49.

Eaton Vance California Municipal Income Trust Price Performance

The firm has a 50-day moving average price of $10.27 and a 200-day moving average price of $9.85.

Eaton Vance California Municipal Income Trust Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, December 24th. Investors of record on Friday, December 12th will be given a dividend of $0.05 per share. This represents a c) dividend on an annualized basis and a yield of 5.8%. The ex-dividend date is Friday, December 12th.

Hedge Funds Weigh In On Eaton Vance California Municipal Income Trust

Several institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada lifted its position in Eaton Vance California Municipal Income Trust by 2.9% in the first quarter. Royal Bank of Canada now owns 57,933 shares of the company’s stock worth $581,000 after buying an additional 1,630 shares during the last quarter. WESCAP Management Group Inc. grew its holdings in Eaton Vance California Municipal Income Trust by 5.8% during the 3rd quarter. WESCAP Management Group Inc. now owns 62,220 shares of the company’s stock worth $627,000 after acquiring an additional 3,389 shares in the last quarter. Raymond James Financial Inc. increased its holdings in Eaton Vance California Municipal Income Trust by 7.5% during the second quarter. Raymond James Financial Inc. now owns 51,580 shares of the company’s stock valued at $500,000 after buying an additional 3,606 shares during the period. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Eaton Vance California Municipal Income Trust during the 2nd quarter worth $52,000. Finally, 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 valued at $97,000 after buying an additional 8,000 shares in the last quarter. 35.88% of the stock is owned by hedge funds and other institutional investors.

Eaton Vance California Municipal Income Trust Company Profile

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.