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NEW YORK—Saba Capital Management, L.P., a significant stakeholder in Eaton (NYSE:ETN) Vance California Municipal Bond Fund (NYSE:EVM), has recently increased its holdings in the fund. According to a regulatory filing, the firm purchased 22,431 shares of common stock on June 2, 2025, at a price of $8.76 per share. The total value of this acquisition is approximately $196,495. The purchase comes as EVM trades near its 52-week low of $8.49, with the fund currently offering a 5.68% dividend yield and maintaining a 24-year streak of consistent dividend payments.
This transaction boosts Saba Capital’s total shares in the fund to 4,320,021. The purchase reflects the ongoing investment strategy of Saba Capital Management, which is known for its active approach in managing significant stakes in various financial entities. The filing was signed by Zachary Gindes on behalf of Saba Capital Management and also by Boaz Weinstein. According to InvestingPro, EVM has a market capitalization of $216.38M and maintains a FAIR overall financial health score, with additional key metrics and analysis available to subscribers.
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