On December 5, 2024, Saba Capital Management acquired 36,430 additional shares of the Eaton Vance California Municipal Bond Fund (EVM), increasing its total holdings to 3,673,181 shares, which now represents 14.89% of its portfolio. The shares were purchased at $9.52 each, reflecting Saba’s investment strategy focused on undervalued opportunities in asset management. The Eaton Vance fund aims to provide tax-exempt income but has faced challenges, including a 35.73% decline since its IPO. Despite mixed financial metrics, Saba’s acquisition suggests confidence in the fund’s potential for recovery and growth in the asset management sector.