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Eaton Vance Municipal Bond Fund (EIM) offers an unattractive yield net of return of capital, making it a less compelling income investment. EIM's strategy focuses on long tenor, high credit quality municipal bonds, resulting in lower income compared to peers with more credit risk. Roughly 28% of EIM's distribution is return of capital, reducing the effective yield to 4.41%, which is unimpressive for muni funds.
BOSTON--(BUSINESS WIRE)--Eaton Vance Municipal Bond Fund (NYSE American: EIM) (the “Fund”) announced today the final results of the Fund's cash tender offer for the following amount of its outstanding common shares (the “Tender Offer”). The Tender Offer expired at 5:00 p.m. Eastern Time on September 4, 2025. The final results of the Tender Offer based on a count by Equiniti Trust Company, LLC, the depositary for the Tender Offer, are provided in the table below. Common Shares Offered to Purchas.
BOSTON--(BUSINESS WIRE)--Eaton Vance Municipal Bond Fund (NYSE American: EIM) (the “Fund”) held an annual meeting of shareholders earlier today (the “Annual Meeting”). At the Annual Meeting, Fund shareholders were asked to elect three Class II Trustees. The Annual Meeting was adjourned to September 16, 2025 at 11:30 a.m. Eastern Time to allow more time for shareholders to vote. The August 20, 2025 record date for shareholders entitled to vote at the adjourned Annual Meeting remains unchanged. I.
BOSTON--(BUSINESS WIRE)--Eaton Vance Municipal Bond Fund (NYSE American: EIM) (the “Fund”) announced today the preliminary results of the Fund's cash tender offer for up to 5% of its outstanding common shares that expired at 5:00 p.m. Eastern Time on September 4, 2025 (the “Tender Offer”). The table below shows the preliminary results for the Fund: Common Shares Offered to Purchase Pursuant to the Tender Offer Common Shares Properly Tendered Purchase Price of Properly Tendered Common Shares* 2,.
We review the CEF market valuation and performance through the second week of August, and highlight recent market action. CEF discounts are at decade-tight levels, offering limited value for shareholders. Eaton Vance's liquidation of EVM and ENX highlights ongoing consolidation in tax-exempt CEFs, shrinking the sector, but improving liquidity and cost structure.
We review the CEF market valuation and performance through the third week of July and highlight recent market action. Muni CEFs underperformed due to rising long-term rates, while equity-linked sectors like Convertibles and Utilities outperformed. The liquidation of Pioneer Muni CEFs MAV, MHI, and MIO highlights ongoing activist pressure and evolving fund management strategies in the sector.
We review the CEF market valuation and performance through the second week of July and highlight recent market action. CEF market was mostly lower this week, with REIT and MLP sectors underperforming and overall valuations remaining historically expensive. Recent tender offers in CEFs like MVF and RSF continue to provide meaningful alpha opportunities; investors should match fund beta to portfolio needs.
BOSTON--(BUSINESS WIRE)--Eaton Vance Municipal Bond Fund (NYSE American: EIM) (the “Fund”) previously announced that the Fund will conduct a tender offer for up to 5% of the Fund's then-outstanding common shares if, during the four-month measurement period beginning March 10, 2025 through July 9, 2025, the Fund's common shares trade at an average discount to net asset value (“NAV”) of more than 7.5% (based upon the average of the difference between its volume-weighted average market price and N.
EIM offers an attractive distribution due to a large portion being federally tax-free income. Distribution coverage has improved with the latest reporting on the back of the Fed's 100 basis points of cuts. Rising long-term rates and leverage have pressured performance more recently, but it could be presenting a more favorable time to consider.
We discuss key Muni themes, including tariffs, federal funding freeze, tax exemption, and more. Muni valuations remain attractive, particularly the value of the tax exemption. We highlight the four Muni buckets where we see value.
BOSTON--(BUSINESS WIRE)--The following Eaton Vance closed-end funds (the “Funds”) announced distributions today as detailed below. Declaration – 2/3/2025 Ex-Date – 2/13/2025 Record – 2/13/2025 Payable – 2/24/2025 Municipal Bond Funds: Fund Ticker Distribution Change From Prior Distribution Closing Market Price – 1/31/25 Distribution Rate at Market Price Eaton Vance California Municipal Income Trust CEV $0.0500 - $10.14 5.92% Eaton Vance Municipal Income Trust EVN $0.0513 - $10.31 5.97% Taxabl.
We review the CEF market valuation and performance through the third week of January and highlight recent market action. CEFs had a strong week, driven by rallies in stocks and Treasuries, with higher-beta MLP and REIT sectors leading. Nuveen Floating Rate Income Fund's rights offering is discussed, emphasizing the importance of either selling or exercising the rights.
BOSTON--(BUSINESS WIRE)--Eaton Vance Municipal Bond Fund (NYSE American: EIM) (the “Fund”) announced today the final results of the Fund's cash tender offer for the following amount of its outstanding common shares (the “Tender Offer”). The Tender Offer expired at 5:00 p.m. Eastern Time on January 10, 2025. The final results of the Tender Offer based on a count by Equiniti Trust Company, LLC, the depositary for the Tender Offer, are provided in the table below. Common Shares Offered to Purchase.
BOSTON--(BUSINESS WIRE)--Eaton Vance Municipal Bond Fund (NYSE American: EIM) (the “Fund”) announced today the preliminary results of the Fund's cash tender offer for up to 5% of its outstanding common shares that expired at 5:00 p.m. Eastern Time on January 10, 2025 (the “Tender Offer”). The table below shows the preliminary results for the Fund: Common Shares Offered to Purchase Pursuant to the Tender Offer Common Shares Properly Tendered Purchase Price of Properly Tendered Common Shares* 2,8.
Eaton Vance Municipal Bond Fund offers tax-free income as a municipal bond-focused closed-end fund. EIM's leverage and interest rate sensitivity pose risks, but rate cuts bode well for the costs of borrowing to decline and lead to NII increasing. EIM's current discount isn't that appealing historically, but the tender offers provide opportunities for investors to realize some of that discount.
BOSTON--(BUSINESS WIRE)--Eaton Vance Municipal Bond Fund (NYSE American: EIM) (the “Fund”) announced today the commencement of a cash tender offer (the “Tender Offer”) for up to 5% of its outstanding common shares at a price per share equal to 98% of its net asset value (“NAV”) per share, determined as of the close of regular trading on the New York Stock Exchange on the day the Tender Offer expires. The Tender Offer will expire on January 9, 2025 at 5:00 p.m. Eastern Time or on such later date.
BOSTON--(BUSINESS WIRE)--The following Eaton Vance closed-end funds (the “Funds”) announced distributions today as detailed below. Declaration – 12/2/2024 Ex-Date – 12/12/2024 Record – 12/12/2024 Payable – 12/19/2024 Municipal Bond Funds: Fund Ticker Distribution Change From Prior Distribution Closing Market Price – 11/29/24 Distribution Rate at Market Price Eaton Vance California Municipal Income Trust CEV $0.0500 - $10.65 5.63% Eaton Vance Municipal Income Trust EVN $0.0513 - $10.79.
We review the CEF market valuation and performance through the third week of November and highlight recent market action. CEFs faced challenges this week due to inflation concerns and higher Treasury yields, with REIT funds underperforming and MLP funds leading month-to-date. Allspring CEFs increased their managed distribution rates, potentially causing NAV drag due to distributions exceeding total NAV returns, risking future distribution cuts.