Saba Capital Management acquires Eaton Vance New York municipal bond fund shares for $11,399

In a recent transaction, Saba Capital Management, L.P., a significant stakeholder, acquired additional shares in the Eaton (NYSE:ETN) Vance New York Municipal Bond Fund (NYSE:ENX). The purchase, detailed in a Form 4 filing with the Securities and Exchange Commission, involved the acquisition of 1,162 shares at a price of $9.81 per share. This transaction, completed on March 3, 2025, represents a total investment of $11,399. According to InvestingPro data, ENX maintains a notable 5.1% dividend yield and has consistently paid dividends for 24 consecutive years.

The acquisition increases Saba Capital Management’s holdings to a total of 3,405,100 shares. Saba Capital, led by Boaz Weinstein, is known for its strategic investments in municipal bond funds. This recent purchase underscores their continued interest in the Eaton Vance New York Municipal Bond Fund, which specializes in providing income exempt from federal income tax and New York State personal income tax. The fund demonstrates strong financial health with a current ratio of 2.34, indicating robust liquidity management.

Investors will be keen to observe how this increased stake might influence the fund’s performance and strategy moving forward. InvestingPro analysis reveals the fund’s historically low price volatility and a positive YTD return of 3.79%. For deeper insights, InvestingPro offers additional analysis tips and comprehensive metrics for informed investment decisions.

In other recent news, Euronext (EPA:ENX) has reported strong financial results 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 also announced a strategic acquisition of NASDAQ’s Nordic Power Futures business, a move that is expected to enhance its presence in the Nordic and Baltic Power Futures market. Additionally, S&P has upgraded Euronext’s credit rating from BBB+ to A-, reflecting confidence in the company’s financial stability and growth strategies.

Euronext’s trading and clearing revenues showed significant growth, with trading revenue up by 14.2% and clearing revenue increasing by 19% to €144.3 million. The company has also proposed a dividend of €292.8 million, representing a 14% increase from the previous year. Analyst firms have noted Euronext’s robust performance, with Bank of America and JPMorgan analysts discussing the company’s strategic investments and cost management during recent earnings calls.

Euronext’s strategic initiatives, including the integration of NASDAQ’s business, are part of its broader plan to accelerate revenue and EBITDA growth by 2027. The company is also preparing for the T+1 settlement cycle set to begin in 2027, with minimal additional costs anticipated. These developments highlight Euronext’s focus on expanding its market infrastructure and enhancing its service offerings across Europe.

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