Eaton Vance California Municipal Bond Fund: Saba Capital Management buys 12,450 shares at $8.98/share.

Eaton Vance California Municipal Bond Fund (EVM) has announced that Saba Capital Management, L.P., a 10% owner, has made a recent purchase of 12,450 shares at a price of $8.98 per share on May 16, 2025.

Eaton Vance California Municipal Income Fund (EVM) has seen a recent increase in its shareholding from Saba Capital Management, L.P., a significant investor. On May 16, 2025, Saba Capital Management L.P. purchased 12,450 shares of EVM at a price of $8.98 per share [2]. This acquisition comes as part of a broader trend of institutional investors adjusting their positions in the fund.

Saba Capital Management L.P., which holds a 10% stake in EVM, has been actively involved in the fund's management. In the fourth quarter of 2024, the firm reduced its position by 18.4% by selling 144,008 shares [3]. However, the recent purchase indicates a strategic shift in their investment strategy.

The purchase aligns with a broader trend of institutional investors adjusting their positions in EVM. Other notable changes include Guggenheim Capital LLC increasing its stake by 9.8% in the fourth quarter [3]. These adjustments suggest a positive outlook on the fund's performance and potential future growth.

Eaton Vance California Municipal Income Fund (EVM) is a fixed-income mutual fund that invests primarily in investment-grade municipal obligations. The fund's recent dividend announcement, which includes a monthly dividend of $0.0513 per share paid on May 23, 2025, further highlights its attractive yield and potential for steady returns [1].

The fund's stock has been trading within a range of $9.59 to $11.31 over the past year, with a 50-day moving average of $10.23 and a 200-day moving average of $10.34. These averages suggest a stable performance, despite recent fluctuations in the broader market [1].

Overall, the recent purchase by Saba Capital Management L.P. and the ongoing adjustments by other institutional investors indicate a positive sentiment towards Eaton Vance California Municipal Income Fund (EVM). Investors should keep an eye on the fund's performance and future developments.

References:
[1] https://www.marketbeat.com/instant-alerts/leigh-baldwin-co-llc-purchases-shares-of-265160-eaton-vance-municipal-income-trust-nyseevn-2025-05-12/
[2] https://quantisnow.com/insight/large-owner-saba-capital-management-lp-bought-208595-worth-of-shares-23203-units-at-6043861
[3] 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/