Bullish indicating open at $55-$60, IPO prices at $37
Saba Capital Management, L.P., a significant stakeholder in Eaton (NYSE:ETN) Vance California Municipal Bond Fund (NYSE:EVM), recently acquired additional shares in the fund. The municipal bond fund, which offers a substantial 5.39% dividend yield and has maintained dividend payments for 24 consecutive years according to InvestingPro data, continues to attract institutional interest. On April 4, the firm purchased 212 shares at a price of $9.29 per share, amounting to a total transaction value of $1,969. This acquisition increases Saba Capital's stake to 4,023,936 shares, reflecting their continued interest in the municipal bond fund. The transaction was disclosed in a recent SEC filing, underscoring Saba Capital's ongoing involvement as a ten percent owner of the fund. With a beta of 0.52 and generally low price volatility, EVM has demonstrated a 2.68% year-to-date return. (InvestingPro subscribers can access additional insights and detailed financial metrics about EVM's performance and valuation.)
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.