Eaton Vance Municipal Bond Fund (NYSEAMERICAN:EIM) Share Price Passes Below Fifty Day Moving Average – Here’s Why

Eaton Vance Municipal Bond Fund (NYSEAMERICAN:EIM)’s stock price passed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $9.75 and traded as low as $9.57. Eaton Vance Municipal Bond Fund shares last traded at $9.60, with a volume of 156,007 shares trading hands.

Eaton Vance Municipal Bond Fund Price Performance

The stock has a 50-day moving average price of $9.75 and a 200-day moving average price of $9.81.

Eaton Vance Municipal Bond Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, August 14th will be issued a dividend of $0.0508 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a c) annualized dividend and a yield of 6.4%.

Hedge Funds Weigh In On Eaton Vance Municipal Bond Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EIM. Readystate Asset Management LP acquired a new stake in shares of Eaton Vance Municipal Bond Fund during the 2nd quarter worth about $605,000. Fortitude Advisory Group L.L.C. grew its stake in Eaton Vance Municipal Bond Fund by 85.9% in the 2nd quarter. Fortitude Advisory Group L.L.C. now owns 23,655 shares of the company’s stock valued at $236,000 after buying an additional 10,930 shares during the last quarter. Rareview Capital LLC grew its stake in Eaton Vance Municipal Bond Fund by 52.7% in the 2nd quarter. Rareview Capital LLC now owns 392,059 shares of the company’s stock valued at $3,791,000 after buying an additional 135,299 shares during the last quarter. High Net Worth Advisory Group LLC grew its stake in Eaton Vance Municipal Bond Fund by 22.8% in the 2nd quarter. High Net Worth Advisory Group LLC now owns 24,773 shares of the company’s stock valued at $247,000 after buying an additional 4,597 shares during the last quarter. Finally, Bank of America Corp DE bought a new position in Eaton Vance Municipal Bond Fund in the 2nd quarter valued at about $1,630,000.

About Eaton Vance Municipal Bond Fund

The Eaton Vance Municipal Bond Fund (NYSEAMERICAN:EIM) is a closed-end management investment company that seeks to provide shareholders with high current income exempt from regular United States federal income tax. The fund primarily invests in a diversified portfolio of investment-grade municipal securities, including general obligation and revenue bonds issued by state and local governments and their agencies. It may also hold tender option bonds and other municipal derivatives to help manage duration and enhance yield.

Managed by Eaton Vance Management, a leading asset management firm with a history dating back to 1924, the fund leverages the firm’s experience in fixed-income investing.