Saba Capital Management buys 986 shares in Eaton Vance New York Municipal Bond Fund.

Eaton Vance New York Municipal Bond Fund (ENX) has disclosed that Saba Capital Management, L.P., a 10% owner of the fund, has recently acquired 986 shares at a price of $9.18 per share on June 20, 2025.

On June 20, 2025, Saba Capital Management, L.P., a significant 10% owner of Eaton Vance New York Municipal Bond Fund (ENX), disclosed that it has recently acquired an additional 986 shares of the fund. The shares were purchased at a price of $9.18 per share [1].

This acquisition follows a series of strategic transactions by Saba Capital Management, which has been consistently increasing its stake in ENX. On June 11, 2025, the firm purchased 7,065 shares at $9.17 per share, increasing its holdings to 3,842,763 shares [2]. On June 13, 2025, Saba Capital Management further expanded its position by acquiring an additional 25,488 shares at $9.16 per share, bringing its total holdings to 3,868,251 shares [3]. The latest purchase on June 20, 2025, further solidifies Saba Capital's interest in ENX, now holding 3,878,247 shares [4].

The Eaton Vance New York Municipal Bond Fund is a non-diversified, closed-end investment company with a primary objective of providing current income exempt from regular federal income tax. With a market capitalization of $165.6 million, ENX has a 24-year track record of consistent dividend payments, making it an attractive option for investors seeking tax-exempt income [1].

Saba Capital Management's decision to increase its stake in ENX aligns with its investment philosophy, which focuses on identifying opportunities that offer significant value and potential for growth. The firm's interest in municipal bond funds underscores its strategy to bolster its holdings in tax-exempt income-generating investments [2].

While ENX has demonstrated impressive revenue and earnings growth over the past three years, its profitability rank is low, with a negative return on equity (ROE) of -1.64%. The fund's operating margin growth remains stagnant, suggesting challenges in achieving sustainable profitability [2]. Despite these challenges, the fund's growth trajectory and tax-exempt income potential may be appealing to investors seeking long-term growth.

References:
[1] https://ca.investing.com/news/insider-trading-news/saba-capital-buys-eaton-vance-enx-shares-worth-272134-93CH-4069929
[2] https://www.gurufocus.com/news/2932812/saba-capital-management-lp-expands-position-in-eaton-vance-new-york-municipal-bond-fund
[3] https://www.investing.com/news/insider-trading-news/saba-capital-buys-eaton-vance-enx-shares-worth-272134-93CH-4101464
[4] https://www.gurufocus.com/news/2932840/saba-capital-management-lp-increases-stake-in-eaton-vance-new-york-municipal-bond-fund