Karpus Management Takes Active Stake in Eaton Vance Muni Bond Fund

TL;DR

**Karpus Management just went active on Eaton Vance Muni Bond Fund, expect potential shake-ups.**

AI Summary

Karpus Management, Inc. has filed a Schedule 13D on January 19, 2024, indicating a significant ownership stake in Eaton Vance Municipal Bond Fund. This filing, triggered by an event on January 18, 2024, suggests Karpus Management now holds a position that allows them to influence or control the fund, shifting from a passive 13G filing. For investors, this matters because Karpus Management, known for its active management style, may now seek to engage with the fund's management, potentially advocating for changes that could impact the fund's strategy, distributions, or overall performance.

Why It Matters

Karpus Management's shift from a passive 13G to an active 13D filing signals their intent to potentially influence Eaton Vance Municipal Bond Fund's operations, which could lead to strategic changes affecting shareholder value.

Risk Assessment

Risk Level: medium — The shift to an active 13D filing introduces uncertainty regarding Karpus Management's intentions and potential impact on the fund's strategy and management.

Analyst Insight

A smart investor would monitor news and future filings from Karpus Management for specific proposals or actions regarding Eaton Vance Municipal Bond Fund, as this shift from passive to active ownership often precedes attempts to influence corporate strategy or governance.

Key Players & Entities

• Karpus Management, Inc. (company) — filer and active investor
• Eaton Vance Municipal Bond Fund (company) — subject company of the filing
• Daniel L. Lippincott (person) — President and Chief Investment Officer of Karpus Management, Inc.
• BakerHostetler (company) — legal counsel for Karpus Management, Inc.
• January 18, 2024 (date) — date of event requiring the filing

Forward-Looking Statements

• Karpus Management will engage with Eaton Vance Municipal Bond Fund's board or management to propose strategic changes. (Karpus Management, Inc.) — medium confidence, target: within 6-12 months
• The Eaton Vance Municipal Bond Fund may experience increased volatility as the market reacts to Karpus Management's active stake. (Eaton Vance Municipal Bond Fund) — medium confidence, target: within 3 months

FAQ

Key Financial Figures

• $108,118,527 — cially owned by Karpus is approximately $108,118,527.23, excluding brokerage commissions. Th
• $9.53 — TS) Purchase of Common Stock 19,535 $9.53 11/21/2023 Purchase of Common Stock
• $9.57 — 023 Purchase of Common Stock 30,607 $9.57 11/22/2023 Purchase of Common Stock
• $9.56 — 2023 Purchase of Common Stock 2,023 $9.56 11/24/2023 Purchase of Common Stock
• $9.58 — 023 Purchase of Common Stock 18,895 $9.58 11/27/2023 Purchase of Common Stock
• $9.61 — 023 Purchase of Common Stock 46,904 $9.61 11/28/2023 Purchase of Common Stock
• $9.67 — 023 Purchase of Common Stock 39,200 $9.67 11/29/2023 Purchase of Common Stock
• $9.69 — 023 Purchase of Common Stock 46,846 $9.69 11/30/2023 Sale of Common Stock (14
• $9.82 — /2023 Sale of Common Stock (14,000) $9.82 12/1/2023 Sale of Common Stock (13,
• $9.85 — /2023 Sale of Common Stock (13,262) $9.85 12/5/2023 Purchase of Common Stock
• $9.84 — 023 Purchase of Common Stock 19,580 $9.84 12/6/2023 Purchase of Common Stock
• $9.89 — 023 Purchase of Common Stock 30,477 $9.89 12/7/2023 Purchase of Common Stock
• $9.83 — 023 Purchase of Common Stock 25,644 $9.83 12/8/2023 Purchase of Common Stock
• $9.78 — 023 Purchase of Common Stock 82,600 $9.78 12/13/2023 Purchase of Common Stock
• $9.93 — 023 Purchase of Common Stock 31,784 $9.93 12/14/2023 Purchase of Common Stock

Filing Documents

• karpus-sch13d_18788.htm (SC 13D) — 124KB
• exh-1_18788.htm (EX-1) — 2KB
• eim-page_01.jpg (GRAPHIC) — 3389KB
• eim-page_02.jpg (GRAPHIC) — 1255KB
• eim-page_03.jpg (GRAPHIC) — 2992KB
• eim-page_04.jpg (GRAPHIC) — 1156KB
• 0001072613-24-000057.txt ( ) — 12202KB

Business

Owned Kathleen Finnerty Crane Chief Financial Officer 183 Sully’s Trail, Pittsford, New York 14534 17,000 Shares Thomas Michael Duffy Senior Vice President and Director of Operations 183 Sully’s Trail, Pittsford, New York 14534 0 Shares Daniel Lee Lippincott President and Chief Investment Officer 183 Sully’s Trail, Pittsford, New York 14534 5,000 Shares Brett David Gardner Senior Vice President 183 Sully’s Trail, Pittsford, New York 14534 7,350 Shares Jodi Lee Hedberg Chief Compliance Officer 183 Sully’s Trail, Pittsford, New York 14534 0 Shares Thomas Wayne Griffin Director 17 East Market Street, West Chester, Pennsylvania 19382 80 0 Shares Carlos Manuel Yuste Director 17 East Market Street, West Chester, Pennsylvania 19382 0 Shares SCHEDULE B Transactions in the Shares in the past 60 days. Nature of the Transaction Shares Purchased/(Sold) Price Per Share($) Date of Purchase / Sale KARPUS MANAGEMENT, INC., D/B/A/ KARPUS INVESTMENT MANAGEMENT (THROUGH THE ACCOUNTS) Purchase of Common Stock 19,535 $9.53 11/21/2023 Purchase of Common Stock 30,607 $9.57 11/22/2023 Purchase of Common Stock 2,023 $9.56 11/24/2023 Purchase of Common Stock 18,895 $9.58 11/27/2023 Purchase of Common Stock 46,904 $9.61 11/28/2023 Purchase of Common Stock 39,200 $9.67 11/29/2023 Purchase of Common Stock 46,846 $9.69 11/30/2023 Sale of Common Stock (14,000) $9.82 12/1/2023 Sale of Common Stock (13,262) $9.85 12/5/2023 Purchase of Common Stock 19,580 $9.84 12/6/2023 Purchase of Common Stock 30,477 $9.89 12/7/2023 Purchase of Common Stock 25,644 $9.83 12/8/2023 Purchase of Common Stock 2,050 $9.83 12/11/2023 Purchase of Common Stock 82,600 $9.78 12/13/2023 Purchase of Common Stock 31,784 $9.93 12/14/2023 Purchase of Common Stock 834 $9.96 12/15/2023 Purchase of Common Stock 48,128 $9.99 12/18/2023

View Full Filing

View this SC 13D filing on SEC EDGAR