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Saba Capital Management, L.P., a significant stakeholder in Eaton (NYSE:ETN) Vance New York Municipal Bond Fund (NYSE:ENX), recently increased its holdings with a purchase of additional shares. The fund, which offers a compelling 5.09% dividend yield and has maintained dividend payments for 24 consecutive years, caught attention with its stable profile, reflected in its low beta of 0.6. According to a recent SEC filing, Saba Capital acquired a total of 32,235 shares over two consecutive days. The transactions, executed on February 27 and 28, 2025, were made at per-share prices ranging between $9.77 and $9.80, amounting to a total investment of approximately $315,524.
Following these acquisitions, Saba Capital’s total ownership in the fund now stands at 3,403,938 shares. The transactions were reported by Boaz Weinstein, a ten percent owner, alongside Saba Capital Management, indicating a continued strategic interest in the municipal bond fund. InvestingPro analysis reveals the fund maintains strong liquidity with a current ratio of 2.34 and carries an overall "GOOD" financial health score. Discover more insights and detailed analysis in the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.
In other recent news, Euronext (EPA:ENX) reported strong financial results for the full year 2024, with revenue reaching €1,626.9 million, a 10.3% increase from the previous year. The company’s adjusted EBITDA rose by 16.4% to €1 billion, signaling robust operational performance. Euronext also announced a strategic acquisition of NASDAQ’s Nordic Power Futures business, which is expected to enhance its presence in the Nordic and Baltic markets. This acquisition is subject to regulatory approvals, but it is anticipated to accelerate Euronext’s strategic initiatives in the power derivatives market. In addition, the credit rating agency S&P upgraded Euronext’s credit rating from BBB+ to A-, reflecting confidence in the company’s financial stability. The firm has also seen significant growth in its trading and clearing revenues, with clearing revenue increasing by 19% to €144.3 million. Euronext plans to continue investing in strategic growth projects in 2025 to support further revenue and EBITDA growth, as highlighted by CEO Stefan Bujna.
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