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), has increased its holdings in the company. According to a recent SEC filing, the firm acquired 102,119 shares at a price of $9.39 per share, totaling approximately $958,897. This transaction brings Saba Capital’s total ownership to 3,371,703 shares. The fund, which currently offers a 5.33% dividend yield and has maintained dividend payments for 24 consecutive years according to InvestingPro, has demonstrated remarkable dividend consistency.
The acquisition was executed on February 25, 2025, and was filed under the name of Saba Capital Management and its managing partner, Boaz Weinstein. Both entities are identified as ten percent owners of the fund. The purchase reflects Saba Capital’s continued interest in Eaton Vance’s municipal bond offerings, which are known for their tax-exempt income potential. With a beta of 0.52 and an overall financial health score rated as "Good" by InvestingPro, the fund has demonstrated relatively low volatility while delivering a 3.21% year-to-date return.
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