NEW YORK—Saba Capital Management, L.P., a significant shareholder in Eaton (NYSE:ETN) Vance California Municipal Bond Fund (NYSE:EVM), has increased its holdings with recent purchases totaling $261,563. The transactions were executed over two days, with the firm acquiring 9,869 shares on December 17 at $9.37 per share and an additional 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 payments for 23 consecutive years, has demonstrated relatively low price volatility according to InvestingPro data.
Following these acquisitions, Saba Capital Management now holds a total of 3,701,226 shares in the fund. The purchases underscore the firm's continued investment in Eaton Vance California Municipal Bond Fund, a fund focused on municipal bonds in the state of California. With a "GOOD" overall financial health score and a year-to-date return of 5.32%, the fund has shown resilience in the current market environment. InvestingPro subscribers can access additional insights through exclusive ProTips and detailed financial metrics.
Boaz Weinstein, a prominent figure in the financial industry, is associated with Saba Capital Management as a ten percent owner. The transactions were disclosed in a recent SEC filing, highlighting the firm's strategic moves in the municipal bond market.
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