Saba capital management acquires $242,379 in Eaton Vance stock

In a recent series of transactions, Saba Capital Management, L.P. has increased its holdings in Eaton (NYSE:ETN) Vance New York Municipal Bond Fund (NYSE:ENX), a fund that boasts a robust 5.08% dividend yield and maintains an overall "GOOD" financial health score according to InvestingPro. The firm, led by Boaz Weinstein, acquired a total of 24,596 shares over two days, with a total transaction value of approximately $242,379. The purchase price per share ranged from $9.81 to $9.87.

On March 4, 2025, Saba Capital acquired 6,392 shares at $9.81 each. The following day, the firm purchased an additional 18,204 shares at a slightly higher price of $9.87 per share. The fund has demonstrated stability with low price volatility and a positive YTD return of 4.27%. After these transactions, Saba Capital’s total ownership in Eaton Vance New York Municipal Bond Fund stands at 3,429,696 shares.

These acquisitions reflect Saba Capital’s continued interest in the fund, as the firm remains a significant stakeholder, holding more than ten percent of the total shares. InvestingPro analysis reveals the fund has maintained dividend payments for 24 consecutive years, with additional insights available in the comprehensive Pro Research Report.

In other recent news, Euronext (EPA:ENX) reported a strong financial performance for the full year 2024, with revenue increasing by 10.3% to €1,626.9 million and adjusted EBITDA rising by 16.4% to €1 billion. The company’s adjusted net income grew by 19.7% to €682.5 million, and a proposed dividend of €292.8 million marks a 14% increase. Euronext also announced a strategic acquisition of NASDAQ’s Nordic Power Futures business, subject to regulatory approval, which is expected to enhance its presence in the Nordic and Baltic power futures market. In addition, S&P upgraded Euronext’s credit rating from BBB+ to A-, reflecting confidence in the company’s financial health and strategic direction.

The company has made significant strides in expanding its market infrastructure across Europe, with notable growth in trading and clearing revenues. Euronext’s strategic focus on non-volume related revenue, which accounted for 58% of total revenue, has positioned it well amidst evolving market dynamics. The company is also preparing for the T+1 settlement cycle in 2027, with minimal anticipated additional costs. Moreover, Euronext’s collaboration with Euroclear aims to enhance its clearing operations, reflecting a strategic move to optimize collateral management capabilities. These developments underscore Euronext’s commitment to sustaining its growth trajectory in the coming years.

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