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Saba Capital Management, L.P., a notable investment firm, has recently increased its stake in the Eaton (NYSE:ETN) Vance California Municipal Bond Fund (NYSE:EVM). According to a recent SEC filing, the firm purchased 8,563 shares of common stock on April 7, 2025, at an average price of $9.22 per share. This acquisition represents a total investment of approximately $78,950. The fund, known for its stable trading pattern and attractive 5.4% dividend yield, has maintained consistent dividend payments for 24 consecutive years, according to InvestingPro data.
Following this transaction, Saba Capital Management now holds a total of 4,032,499 shares in the fund. The purchase highlights the firm's continued interest in the Eaton Vance California Municipal Bond Fund, a fund known for its focus on municipal bonds within the state of California. With an overall financial health score rated as "GOOD" by InvestingPro, and a beta of 0.52 indicating lower market volatility, the fund demonstrates strong fundamentals. Unlock additional insights and 2 more exclusive ProTips with an InvestingPro subscription.
The filing also lists Boaz Weinstein, another significant figure in the investment community, as a reporting owner alongside Saba Capital Management. Both parties are recognized as ten percent owners in the fund, indicating their substantial influence and stake in the company's operations.
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