Saba capital administration buys $261,563 in Eaton Vance California Municipal Bond Fund

NEW YORK—Saba Capital Administration, L.P., a big shareholder in Eaton (NYSE:ETN) Vance California Municipal Bond Fund (NYSE:EVM), has elevated its holdings with latest purchases totaling $261,563. The transactions had been executed over two days, with the agency buying 9,869 shares on December 17 at $9.37 per share and a further 18,104 shares on December 18 at $9.34 per share. The fund, which boasts a notable 5.44% dividend yield and has maintained dividend funds for 23 consecutive years, has demonstrated comparatively low value volatility in line with InvestingPro knowledge.

Following these acquisitions, Saba Capital Administration now holds a complete of three,701,226 shares within the fund. The purchases underscore the agency’s continued funding in Eaton Vance California Municipal Bond Fund, a fund targeted on municipal bonds within the state of California. With a “GOOD” total monetary well being rating and a year-to-date return of 5.32%, the fund has proven resilience within the present market surroundings. InvestingPro subscribers can entry further insights via unique ProTips and detailed monetary metrics.

Boaz Weinstein, a distinguished determine within the monetary trade, is related to Saba Capital Administration as a ten % proprietor. The transactions had been disclosed in a latest SEC submitting, highlighting the agency’s strategic strikes within the municipal bond market.

This text was generated with the assist of AI and reviewed by an editor. For extra data see our T&C.