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NEW YORK—Saba Capital Management, L.P., a prominent stakeholder, has increased its holdings in Eaton (NYSE:ETN) Vance California Municipal Bond Fund (NYSE:EVM) through a series of recent transactions. The fund, currently valued at $216.13 million and known for maintaining dividend payments for 24 consecutive years, offers a 5.74% dividend yield. On June 12 and June 13, Saba Capital acquired a total of 12,962 shares of the fund’s common stock. The purchases, made at prices ranging from $8.75 to $8.78 per share, amounted to an investment of approximately $113,774.
The acquisitions were executed in two separate transactions. On June 12, Saba Capital acquired 11,886 shares at $8.78 per share, followed by an additional purchase of 1,076 shares at $8.75 per share on June 13. These transactions have increased Saba Capital’s total holdings in Eaton Vance California Municipal Bond Fund to 4,428,964 shares. The fund’s low volatility profile, with a beta of 0.56, makes it a relatively stable investment vehicle.
The transactions were reported by Saba Capital Management, L.P., with Boaz Weinstein, a significant owner, also listed in the filing. Both entities are identified as ten percent owners of the fund. According to InvestingPro, the fund is currently trading near its 52-week low, with additional key metrics and analysis available to subscribers.
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