Saba Capital Management, L.P., a significant shareholder in Eaton (NYSE:ETN) Vance New York Municipal Bond Fund (NYSE:ENX), has increased its stake in the fund. According to a recent SEC filing, Saba Capital acquired 16,434 shares of the fund’s common stock on March 17, 2025, at a price of $9.55 per share. This purchase amounts to a total transaction value of approximately $156,944. The fund, which offers a compelling 5.22% dividend yield and has maintained dividend payments for 24 consecutive years according to InvestingPro, continues to attract institutional interest.
The acquisition raises Saba Capital’s total holdings to 3,497,426 shares. The transaction was conducted indirectly, as indicated in the filing, with the shares being acquired for investment purposes. Boaz Weinstein, a key figure at Saba Capital, was also listed as a reporting owner in the filing, underscoring the firm’s significant interest in the fund. InvestingPro data shows ENX maintains strong financial health with a GOOD overall score and current ratio of 2.34, indicating robust liquidity management. Discover more insights with InvestingPro’s comprehensive analysis of over 1,400 stocks.
In other recent news, Euronext (EPA:ENX) reported strong financial results for the full year 2024, with revenue reaching €1,626.9 million, a 10.3% increase year-over-year. The company’s adjusted EBITDA rose by 16.4% to €1 billion, marking a significant milestone. Euronext also announced a strategic acquisition of NASDAQ’s Nordic Power Futures business, which is expected to enhance its market presence in the Nordic and Baltic regions. In another development, S&P upgraded Euronext’s credit rating from BBB+ to A-, reflecting the company’s robust financial performance and strategic initiatives. The company plans to invest significantly in strategic growth projects in 2025, aiming to accelerate revenue and EBITDA growth by 2027. Additionally, Euronext has launched cash-settled mini futures on European government bonds, set to be available for trading in September 2025. The company’s strategic focus on non-volume-related revenue, which accounted for 58% of total revenue, continues to strengthen its market position. These developments highlight Euronext’s ongoing efforts to sustain its growth trajectory in the coming years.
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