EIM: Distribution Bump But Still An Attractive Discount [Seeking Alpha]
Eaton Vance Municipal Income Trust (EVN)
US:NYSE Investor Relations:
funds.eatonvance.com/pennsylvania-municipal-income-trust-evp.php
Company Research
Source: Seeking Alpha
The fund has become a target for activist group Karpus Management, which now owns over 20% of the fund. Lower rates and a narrower discount could improve distribution coverage and potentially lead to capital gains for investors in muni CEFs. This idea was discussed in more depth with members of my private investing community, CEF/ETF Income Laboratory. Learn More » Written by Nick Ackerman, co-produced by Stanford Chemist. Eaton Vance Municipal Bond Fund ( NYSE: EIM ) suffered substantial losses like many of its peers when the Fed was hiking rates aggressively. Being a leveraged fund added further pressure due to the Fed raising short-term rates, causing the borrowing rate on their floating rate notes to climb materially. Risk-free rates shot higher, and that meant the underlying portfolio of long-duration municipal bonds shot lower. Today, the fund's discount looks appealing and a recent distribution increase could be a catalyst to see that narrow. However, this distributi
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EVN
Sec Filings
- 4/24/24 - Form NPORT-P
- 2/29/24 - Form 424B3
- 2/9/24 - Form N-CEN
- EVN's page on the SEC website