Saba Capital Management buys 32,549 shares of Eaton Vance California Municipal Bond Fund.

Eaton Vance California Municipal Bond Fund has announced that Saba Capital Management, L.P., a 10% owner of the fund, has acquired 32,549 shares at a price of $8.86 per share on May 22, 2025.

Eaton Vance California Municipal Income Trust (NYSE:CEV) has seen significant movement in its shareholdings, with Saba Capital Management L.P. recently acquiring an additional 32,549 shares at a price of $8.86 per share on May 22, 2025 [1]. This acquisition comes as Saba Capital Management L.P. continues to be a significant holder in the fund, owning 638,737 shares as of the fourth quarter of 2024 [1].

The acquisition by Saba Capital Management L.P. is part of a broader trend of institutional investors adjusting their stakes in Eaton Vance California Municipal Income Trust. During the fourth quarter of 2024, several other institutional investors made notable changes to their holdings. For instance, Wolverine Asset Management LLC increased its holdings by 255.4%, purchasing an additional 42,983 shares valued at $601,000 [1]. Wealthspire Advisors LLC also increased its stake by 68.1%, adding 9,805 shares valued at $243,000 [1]. Whipplewood Advisors LLC, Noble Wealth Management PBC, and Raymond James Financial Inc. also initiated new positions or expanded their existing stakes in the fund [1].

These changes in shareholdings highlight the continued interest of institutional investors in Eaton Vance California Municipal Income Trust. The fund, which invests primarily in debt securities issued by various sectors, has seen its stock price trade down by 0.4% on Thursday, May 17, 2025, hitting $9.58 [1]. The stock's 50-day moving average stands at $9.81, while the 200-day moving average is $10.11 [1]. Despite these movements, the fund remains attractive due to its recent dividend announcement, with a monthly dividend of $0.05 paid on May 23, 2025, representing a $0.60 annualized dividend and a yield of 6.26% [1].

In summary, the acquisition by Saba Capital Management L.P. is a notable development in the shareholdings of Eaton Vance California Municipal Income Trust. The fund continues to attract institutional investors, reflecting confidence in its investment strategy and the potential for stable returns.

References:
[1] https://www.marketbeat.com/instant-alerts/saba-capital-management-lp-has-641-million-stock-position-in-eaton-vance-california-municipal-income-trust-nysecev-2025-05-17/