Eaton Vance Municipal Bond Fund (NYSEAMERICAN:EIM) Shares Break Below 50 Day Moving Average – Here’s What Happened

Shares of Eaton Vance Municipal Bond Fund (NYSEAMERICAN:EIM) crossed below its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $9.03 and traded as low as $9.02. Eaton Vance Municipal Bond Fund shares last traded at $9.02, with a volume of 398,357 shares trading hands.

Eaton Vance Municipal Bond Fund Price Performance

The company has a 50-day simple moving average of $9.03 and a 200-day simple moving average of $9.62.

Eaton Vance Municipal Bond Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, November 30th. Shareholders of record on Monday, November 16th will be issued a dividend of $0.0508 per share. The ex-dividend date of this dividend is Monday, November 16th. This represents a $0.61 dividend on an annualized basis and a yield of 6.8%.

Insider Activity

In other news, insider Craig R. Brandon sold 87,567 shares of the stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $9.12, for a total transaction of $798,611.04. Following the sale, the insider directly owned 1 shares of the company’s stock, valued at $9.12. This represents a 100.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in EIM. Rivernorth Capital Management LLC grew its holdings in Eaton Vance Municipal Bond Fund by 1.3% during the first quarter. Rivernorth Capital Management LLC now owns 1,610,948 shares of the company’s stock valued at $15,739,000 after purchasing an additional 20,385 shares during the period. Robinson Capital Management LLC boosted its position in shares of Eaton Vance Municipal Bond Fund by 0.6% during the second quarter. Robinson Capital Management LLC now owns 1,041,484 shares of the company’s stock worth $10,378,000 after purchasing an additional 6,246 shares in the last quarter. Advisors Asset Management Inc. bought a new stake in shares of Eaton Vance Municipal Bond Fund in the 3rd quarter valued at $7,323,000. Rareview Capital LLC lifted its holdings in Eaton Vance Municipal Bond Fund by 52.7% during the second quarter. Rareview Capital LLC now owns 392,059 shares of the company’s stock worth $3,791,000 after acquiring an additional 135,299 shares in the last quarter. Finally, Cresta Advisors Ltd. grew its stake in Eaton Vance Municipal Bond Fund by 3.0% in the third quarter. Cresta Advisors Ltd. now owns 345,415 shares of the company’s stock valued at $3,133,000 after acquiring an additional 10,000 shares during the period.

About Eaton Vance Municipal Bond Fund

Eaton Vance Municipal Bond Fund (NYSE American: EIM) is a closed-end management investment company focused on generating current income that is exempt from regular federal income tax. The fund invests primarily in municipal bonds and other tax-exempt obligations issued by states, cities, counties, and other public entities. The fund’s portfolio may include investment-grade and below-investment-grade municipal securities, subject to its investment policies and risk-management guidelines. Its holdings are generally tied to the U.S. municipal bond market, providing exposure to issuers and public projects across various regions of the United States.