Eaton Vance California Municipal Income Trust (NYSE:CEV) Trading 0.5% Higher – Should You Buy?

Eaton Vance California Municipal Income Trust (NYSE:CEV) shot up 0.5% during mid-day trading on Wednesday . The stock traded as high as $10.23 and last traded at $10.13. 28,521 shares traded hands 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 Up 0.5%

The business’s 50 day moving average is $10.42 and its 200-day moving average is $10.28.

Eaton Vance California Municipal Income Trust Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Friday, March 13th will be given a $0.05 dividend. This represents a c) annualized dividend and a dividend yield of 5.9%. The ex-dividend date of this dividend is Friday, March 13th.

Hedge Funds Weigh In On Eaton Vance California Municipal Income Trust

Large investors have recently made changes to their positions in the business. Rockefeller Capital Management L.P. boosted its stake in Eaton Vance California Municipal Income Trust by 58.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 110,426 shares of the company’s stock valued at $1,109,000 after purchasing an additional 40,826 shares during the period. Evolve Private Wealth LLC bought a new position in Eaton Vance California Municipal Income Trust in the 4th quarter worth approximately $240,000. Wells Fargo & Company MN lifted its holdings in shares of 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 worth $509,000 after buying an additional 4,262 shares during the last quarter. Concorde Asset Management LLC acquired a new position in shares of Eaton Vance California Municipal Income Trust during the fourth quarter worth approximately $100,000. Finally, Wedbush Securities Inc. boosted its position in shares of Eaton Vance California Municipal Income Trust by 147.4% in the fourth quarter. Wedbush Securities Inc. now owns 33,897 shares of the company’s stock valued at $340,000 after acquiring an additional 20,197 shares during the period. Institutional investors and hedge funds own 35.88% of the company’s stock.

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.