Eaton Vance California Municipal Income Trust (NYSE:CEV) Stock Price Up 0.5% – Time to Buy?

Eaton Vance California Municipal Income Trust (NYSE:CEV)’s stock price shot up 0.5% during mid-day trading on Wednesday . The company traded as high as $10.23 and last traded at $10.13. 28,521 shares were traded during trading, an increase of 62% from the average session volume of 17,600 shares. The stock had previously closed at $10.08.

Eaton Vance California Municipal Income Trust Stock Performance

The company’s 50-day moving average price is $10.41 and its 200-day moving average price is $10.28.

Eaton Vance California Municipal Income Trust Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Wednesday, March 25th. Shareholders of record on Friday, March 13th were issued a dividend of $0.05 per share. The ex-dividend date was Friday, March 13th. This represents a c) dividend on an annualized basis and a yield of 6.1%.

Hedge Funds Weigh In On Eaton Vance California Municipal Income Trust

Several institutional investors have recently modified their holdings of the business. Evolve Private Wealth LLC purchased a new position in Eaton Vance California Municipal Income Trust in the fourth quarter valued at $240,000. Concorde Asset Management LLC purchased a new stake in Eaton Vance California Municipal Income Trust during the 4th quarter worth about $100,000. Osaic Holdings Inc. increased its holdings in Eaton Vance California Municipal Income Trust by 400.0% during 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 during the period. US Bancorp DE acquired a new stake in Eaton Vance California Municipal Income Trust in the 3rd quarter valued at about $83,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new stake in Eaton Vance California Municipal Income Trust in the 2nd quarter valued at about $52,000. Institutional investors and hedge funds own 35.88% of the company’s stock.

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.