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Saba Capital Management, L.P., a prominent investment management firm led by Boaz Weinstein, has recently expanded its stake in the Eaton (NYSE:ETN) Vance California Municipal Bond Fund (NYSE:EVM). According to a recent SEC filing, the firm purchased 59,775 shares of the fund at a price of $8.60 per share, amounting to a total investment of $514,065.
This acquisition increases Saba Capital Management’s total holdings in the fund to 4,092,274 shares. The transaction, dated April 11, 2025, was reported in a Form 4 filing submitted to the Securities and Exchange Commission on April 14, 2025. According to InvestingPro, the fund maintains a "GOOD" overall financial health score of 2.75, with particularly strong cash flow metrics.
Eaton Vance California Municipal Bond Fund is known for its focus on providing current income exempt from regular federal income tax and California state personal income taxes. The fund is based in Boston, Massachusetts, and is a notable entity within the municipal bond market.
This move by Saba Capital Management reflects its continued interest and belief in the potential of municipal bond funds, particularly those focused on California, as part of its broader investment strategy.
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