Intel stock spikes after report of possible US government stake
Saba Capital Management, L.P., a prominent investment management firm, has recently increased its stake in the Eaton (NYSE:ETN) Vance California Municipal Bond Fund (NYSE:EVM), a fund that has delivered an 8.3% return year-to-date and maintains a notable 5.29% dividend yield. According to a Form 4 filing with the Securities and Exchange Commission, the firm acquired 29,206 shares at a price of $9.45 per share, totaling approximately $275,996.
The transaction, dated November 27, 2024, reflects Saba Capital Management's continued interest in the fund, as the firm now holds a total of 3,538,505 shares. According to InvestingPro, EVM has maintained dividend payments for 23 consecutive years and currently holds a "GOOD" overall Financial Health score. This purchase highlights the ongoing strategic investments by Saba Capital Management and its founder, Boaz Weinstein, who is also a ten percent owner of the fund. The acquisition was conducted under indirect ownership. (Discover 12+ additional exclusive insights about EVM on InvestingPro.)
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.