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Saba Capital Management, L.P., a significant shareholder in Eaton (NYSE:ETN) Vance California Municipal Bond Fund (NYSE:EVM), has increased its stake in the company. According to a recent SEC filing, Saba Capital acquired 1,298 shares of common stock on June 9, 2025, at a price of $8.77 per share. The total value of the transaction amounted to $11,383. Following this purchase, Saba Capital now holds a total of 4,358,158 shares in the fund, which currently has a market capitalization of $216.38 million and maintains a notably low volatility profile with a beta of 0.56. The transaction reflects Saba Capital’s continued interest in the municipal bond fund, which focuses on providing income that is exempt from federal and California state taxes. The fund has maintained dividend payments for 24 consecutive years, currently offering a 5.71% dividend yield. InvestingPro analysis reveals several additional key metrics and insights about EVM’s financial health and market position.
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