Form 4: Saba Capital Sells Shares in Eaton Vance California Municipal Income Trust
SEC Form 4
Saba Capital Management, a 10% owner of Eaton Vance California Municipal Income Trust, disposed of 31,052 shares of common stock at a price of $10.87 per share on September 19, 2024.
Summary
- On September 19, 2024, Saba Capital Management, L.P. sold 31,052 shares of Eaton Vance California Municipal Income Trust (CEV) common stock.
- The transaction was executed at a price of $10.87 per share.
- Following the transaction, Saba Capital Management, L.P. indirectly beneficially owns 851,625 shares of CEV.
- Boaz Weinstein, also listed as a reporting person, is associated with Saba Capital Management.
Sentiment
Score: 5
Explanation: Neutral sentiment as it's a standard disclosure of share disposal. The size of the disposal is relatively small compared to the total holdings.
Industry Context
This filing reflects changes in ownership of a closed-end fund, Eaton Vance California Municipal Income Trust. Such filings are common and provide transparency into the investment activities of major shareholders.
Stakeholder Impact
- The disposal of shares by a major shareholder like Saba Capital could potentially create short-term selling pressure on the stock.
Key Dates
| Date | Description |
|---|---|
| 09/19/2024 | Date of transaction: Saba Capital Management disposed of 31,052 shares of CEV. |
| 09/23/2024 | Date of signature for the Form 4 filing by Zachary Gindes and Boaz Weinstein. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.