Eaton Vance California Municipal Income Trust Reports Earnings Results for the Second Quarter and Six Months Ended Mary 31, 2013
August 06, 2013 at 03:45 pm
Share
Eaton Vance California Municipal Income Trust reported earnings results for the second quarter and six months ended Mary 31, 2013. For the three months ended May 31, 2013, the trust had net investment income of $1,373,968 or $0.189 per common share against $1,443,000 or $0.199 a year ago. Net realized and unrealized losses were $2,821,253 or $0.393 per common share against net realized and unrealized gains for the three months ended May 31, 2012 were $1,590,256 or $0.219 per common share. Net decrease in net assets from operations was $1,479,000 or $0.209 per share against net increase in net assets from operations of $2,996,000 or $0.413 per share a year ago.
For the six months, the trust's net investment income was $2,744,032 or $0.378 per common share against $2,917,000 or $0.402 per common share a year ago. Net realized and unrealized losses on investments were $5,025,000 against or $0.697 per common share net realized and unrealized gain on investments of $10,636,000 or $1.467 per common share a year ago. Net decrease in net assets from operations was $2,337,000 or $0.327 per common share against net increase in net assets from operations of $13,493,000 or $1.861 per common share a year ago. On May 31, 2013, net assets of the trust applicable to common shares were $101,153,514 or $13.93 per common share against $100,330,286 or $13.84 per common share a year ago.
Eaton Vance California Municipal Income Trust (the Fund) is a non-diversified, closed-end management investment company. The Fundâs investment objective is to provide current income exempt from regular federal income tax and California state personal income taxes. The Trust may invest in residual interest bonds whereby the Trust may sell a variable or fixed rate bond for cash to a Special-Purpose Vehicle (the SPV), while at the same time, buying a residual interest in the assets and cash flows of the SPV. The Trust invests primarily in debt securities issued by California municipalities. The Fundâs portfolio of investments includes various sectors, including general obligations, insured-education, healthcare, electric utilities, insured-escrowed/prefunded, airport, insured special assessment, special tax, water and sewer, public power, senior living/life care, special assessment and transportation. Eaton Vance Management acts as the Fundâs investment advisor.