Saba capital management acquires $468,599 in Eaton Vance stock

Saba Capital Management, L.P., a significant shareholder in Eaton (NYSE:ETN) Vance New York Municipal Bond Fund (NYSE:ENX), has increased its stake by purchasing 49,068 shares. The acquisition, valued at approximately $468,599, was executed at a price of $9.55 per share, near the middle of its 52-week range of $9.27 to $10.13. According to InvestingPro data, ENX typically demonstrates low price volatility, making it an interesting choice for stability-focused investors. This transaction, dated April 7, 2025, raises Saba Capital's total holdings to 3,625,556 shares. The move underscores Saba Capital's ongoing investment strategy in Eaton Vance, a fund known for its focus on municipal bonds. The fund currently offers a notable 5.23% dividend yield and has maintained dividend payments for 24 consecutive years. InvestingPro analysis reveals several additional insights about ENX's performance and financial health, available in the full Pro Research Report.

In other recent news, Euronext (EPA:ENX) reported strong financial results for the full year 2024, with revenue reaching €1,626.9 million, marking a 10.3% increase year-over-year. The company's adjusted EBITDA also rose significantly by 16.4% to €1 billion. Euronext announced a strategic acquisition of NASDAQ's Nordic Power Futures business, which is expected to enhance its presence in the Nordic and Baltic power futures markets. Additionally, S&P upgraded Euronext's credit rating from BBB+ to A-, reflecting confidence in the company's financial stability and strategic direction.

Euronext's trading and clearing revenues showed notable growth, with trading revenue increasing by 14.2% and clearing revenue rising by 19% to €144.3 million. The company also proposed a dividend of €292.8 million, up 14% from the previous year. Analysts from Bank of America and JPMorgan highlighted Euronext's strategic initiatives, including investments in new technology and team expansions to support future growth. The company plans to invest significantly in 2025, focusing on strategic growth projects to accelerate revenue and EBITDA growth by 2027.

Euronext's CEO, Stefan Bujna, expressed optimism about the company's future, emphasizing the strategic investments planned for 2025. The company is also preparing for the T+1 settlement cycle set to begin in 2027, with minimal anticipated additional costs. These recent developments indicate Euronext's commitment to sustaining its growth trajectory in the coming years.

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