In a challenging economic climate, Eaton (NYSE:ETN) Vance California Municipal Income Trust (CEV) stock has reached a 52-week low, dipping to $9.98. According to InvestingPro data, the fund maintains a notable 6.02% dividend yield and has consistently paid dividends for 27 consecutive years. This price movement reflects a broader trend affecting municipal bond funds, as investors recalibrate their portfolios in response to fluctuating interest rates and municipal bond market dynamics. With a beta of 0.39 and generally low price volatility, CEV has shown relative stability despite a 6-month decline of 7.2%. Investors are closely monitoring the fund's performance as it navigates through these market conditions, seeking to understand the long-term implications for their investment strategies. InvestingPro subscribers can access additional insights and metrics to better evaluate the fund's positioning in current market conditions.
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