CTAs keep buying Treasuries, gold longs face stop-loss risk: BofA
In a recent transaction, Saba Capital Management, L.P., a significant stakeholder, acquired shares of Eaton (NYSE:ETN) Vance New York Municipal Bond Fund (NYSE:ENX), a fund that has maintained dividend payments for 24 consecutive years and currently offers a 5.14% dividend yield according to InvestingPro data. The purchase, which took place on March 11, involved 16,552 shares at a price of $9.75 each, totaling approximately $161,382. Following this acquisition, Saba Capital Management now holds 3,472,991 shares in the fund. This move underscores Saba Capital’s continued interest in the municipal bond fund, which is managed by Eaton Vance and focuses on investments in New York municipal bonds. InvestingPro analysis reveals the fund maintains strong liquidity with a current ratio of 2.34 and has demonstrated relatively low price volatility with a beta of 0.62. For deeper insights into ENX’s financial health and investment potential, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro.
In other recent news, Euronext (EPA:ENX) reported a strong financial performance for 2024, with revenue increasing by 10.3% to €1,626.9 million and adjusted EBITDA rising 16.4% to €1 billion. The company also saw its adjusted net income grow by 19.7% to €682.5 million. Euronext announced a strategic acquisition of NASDAQ’s Nordic Power Futures business, which is expected to enhance its presence in the Nordic and Baltic regions. Additionally, S&P upgraded Euronext’s credit rating from BBB+ to A-, reflecting confidence in its financial health and strategic direction. The company proposed a dividend of €292.8 million, representing a 14% increase from the previous year. Euronext’s trading and clearing revenues experienced significant growth, with trading revenue up by 14.2% and clearing revenue increasing by 19%. The company is also preparing for the T+1 settlement cycle, which is set to begin in 2027, and plans to make significant investments in strategic growth projects in 2025. These developments position Euronext for continued growth amidst evolving market dynamics.
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