Eaton Vance California Municipal Income Trust (NYSE:CEV) Trading Up 0.1% – Should You Buy?

Eaton Vance California Municipal Income Trust (NYSE:CEV) was up 0.1% during trading on Tuesday . The company traded as high as $10.39 and last traded at $10.36. 17,466 shares traded hands during trading, a decline of 20% from the average session volume of 21,751 shares. The stock had previously closed at $10.35.

Eaton Vance California Municipal Income Trust Price Performance

The business’s fifty day moving average is $10.28 and its two-hundred day moving average is $10.29.

Eaton Vance California Municipal Income Trust Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Wednesday, June 24th. Shareholders of record on Friday, June 12th were paid a $0.05 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date of this dividend was Friday, June 12th.

Institutional Trading of Eaton Vance California Municipal Income Trust

A number of large investors have recently made changes to their positions in the business. Royal Bank of Canada lifted its holdings in shares of Eaton Vance California Municipal Income Trust by 2.9% in the 1st quarter. Royal Bank of Canada now owns 57,933 shares of the company’s stock valued at $581,000 after acquiring an additional 1,630 shares during the last quarter. Cypress Wealth Services LLC increased its stake in Eaton Vance California Municipal Income Trust by 5.1% during the fourth quarter. Cypress Wealth Services LLC now owns 58,230 shares of the company’s stock worth $585,000 after acquiring an additional 2,831 shares during the last quarter. Raymond James Financial Inc. increased its stake 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 worth $500,000 after acquiring an additional 3,606 shares during the last quarter. Wells Fargo & Company MN raised its position in Eaton Vance California Municipal Income Trust by 9.2% during the fourth quarter. Wells Fargo & Company MN now owns 50,702 shares of the company’s stock valued at $509,000 after purchasing an additional 4,262 shares during the period. Finally, Northwestern Mutual Wealth Management Co. purchased a new stake in Eaton Vance California Municipal Income Trust during the second quarter valued at approximately $52,000. 35.88% of the stock is currently owned by institutional investors.

Eaton Vance California Municipal Income Trust Company Profile

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.