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    SEC Form SC 13D/A filed by Eaton Vance Municipal Bond Fund (Amendment)

    4/8/21 4:11:01 PM ET
    $EIM
    Finance/Investors Services
    Finance
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    SC 13D/A 1 karpus-sch13da11_18487.htm KARPUS INVESTMENT MANAGEMENT / EATON VANCE MUNI BOND FUND -- 13D/A(#11) Schedule 13D

     

     

    UNITED STATES

    SECURITIES AND EXCHANGE COMMISSION

    Washington, D.C. 20549

     

    SCHEDULE 13D/A

    (Rule 13d-101) 

     

     

    INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT

    TO § 240.13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO

    § 240.13d-2(a)

    (Amendment No. 11) 1

     

     

    Eaton Vance Municipal Bond Fund

    (Name of Issuer)

    Common Stock

    (Title of Class of Securities)

    27827X101

    (CUSIP Number)

    Jodi Hedberg, Chief Compliance Officer

    Karpus Management, Inc.

    d/b/a Karpus Investment Management

    183 Sully’s Trail

    Pittsford, New York 14534

    (585) 586-4680

     

    Adam W. Finerman, Esq.

    Olshan Frome Wolosky LLP

    1325 Avenue of the Americas

    New York, New York 10019

    (212) 451-2300

    (Name, Address and Telephone Number of Person

    Authorized to Receive Notices and Communications)

    April 6, 2021

    (Date of Event which Requires Filing of this Statement)

     

    If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. ☒

    Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See §240.13d-7 for other parties to whom copies are to be sent.

    _______________________ 

    1 The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

    The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

     

     

     

    CUSIP No.  27827X101

    13D Page 2 of 6 Pages    

     

    1.  

    NAME OF REPORTING PERSON

     

    Karpus Investment Management

     

       
    2.  

    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

     

     

     

     

    (a) ☒

    (b) ☐

    3.  

    SEC USE ONLY

     

     

     

       
    4.  

    SOURCE OF FUNDS

      

    WC

     

       
    5.  

    CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)     

     

     

     

       ☐
    6.  

    CITIZENSHIP OR PLACE OF ORGANIZATION

     

    New York

      

       
    NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH  

     7.

     

    SOLE VOTING POWER

     

    3,081,333 Shares

     

      8.  

    SHARED VOTING POWER

     

    0 Shares

     

      9.  

    SOLE DISPOSITIVE POWER

     

    3,091,043 Shares

     

      10.  

    SHARED DISPOSITIVE POWER

     

    0 Shares

     

    11.  

    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

     

    3,091,043 Shares

     

       
    12.  

    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

     

     

     

       ☐
    13.  

    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

      

    4.30%

     

       

     14.

     

    TYPE OF REPORTING PERSON

       

    IA

     

       

     

     

    CUSIP No.  27827X101

    13D Page 3 of 6 Pages    

     

     

     

    The following constitutes Amendment No. 11 to the Schedule 13D filed by the undersigned (“Amendment No. 11”). This Amendment No. 11 amends the Schedule 13D as specifically set forth herein. 

     

     

    Item 2.Identity and Background.

     

    Item 2(a) is hereby amended and restated as follows:

     

    (a)    This statement is filed by:

     

    (i) Karpus Management, Inc., d/b/a Karpus Investment Management (“Karpus”). Karpus is a registered investment adviser under Section 203 of the Investment Advisers Act of 1940. Karpus is controlled by City of London Investment Group plc (“CLIG”), which is listed on the London Stock Exchange. However, in accordance with SEC Release No. 34-39538 (January 12, 1998), effective informational barriers have been established between Karpus and CLIG such that voting and investment power over the subject securities is exercised by Karpus independently of CLIG, and, accordingly, attribution of beneficial ownership is not required between Karpus and CLIG. The shares to which this Amendment No. 11 relates are owned directly by the accounts managed by Karpus;

     

    Set forth on Schedule A annexed hereto (“Schedule A”) is the name and present principal business, occupation or employment and the name, principal business and address of any corporation or other organization in which such employment is conducted of the executive officers and directors of Karpus. To the best of Karpus’ knowledge, except as otherwise set on Schedule A, none of the persons listed on Schedule A beneficially owns any securities of the Issuer or is a party to any contract, agreement or understanding required to be disclosed herein.

     

     

    Item 3.Source and Amount of Funds or Other Consideration.

     

    Item 3 is hereby amended and restated to read as follows:

     

    Karpus, an independent registered investment advisor, has accumulated 3,091,043 Shares on behalf of accounts that are managed by Karpus (the “Accounts”) under limited powers of attorney, which represents 4.30% of the outstanding Shares. All funds that have been utilized in making such purchases for the Accounts (which are open market purchases unless otherwise noted) are from such Accounts.

     

    The aggregate purchase price of the 3,091,043 Shares beneficially owned by Karpus is approximately $37,688,902, excluding brokerage commissions. Such Shares were purchased with working capital (which may at any given time, include margin loans made by brokerage firms in the ordinary course of business) in open market purchases except as otherwise noted.

     

     

     

     

     

     

     

    CUSIP No.  27827X101

    13D Page 4 of 6 Pages    

     

     

     

    Item 5.

    Interest in Securities of the Issuer.

     

    Items 5A. (a) – (e) are hereby amended and restated to read as follows:

     

    The aggregate percentage of Shares reported owned by each Reporting Person is based upon 71,953,184 Shares outstanding, which is the total number of Shares outstanding communicated by the Issuer on Form SC TO-I/A, filed with the Securities and Exchange Commission on July 28, 2020.

     

    A.Karpus Investment Management

      (a) As of the close of business on April 6, 2021, Karpus Investment Management beneficially owned 3,091,043 Shares held in the Accounts.

     

      Percentage:   Approximately 4.30%

     

      (b) 1. Sole power to vote or direct vote:   3,081,333
      2. Shared power to vote or direct vote: 0
      3. Sole power to dispose or direct the disposition:  3,091,043
      4. Shared power to dispose or direct the disposition: 0

      

      (c) The transactions in the Shares by Karpus through the Accounts since the filing of the Schedule 13D, Amendment No. 10 on March 4, 2021 are set forth in Schedule B and incorporated herein by reference.

     

      (e) As of April 6, 2021 ceased to be the beneficial owner of more than 5% of the class of securities.

     

    The filing of this Schedule 13D shall not be deemed an admission that Karpus is, for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended, the beneficial owners of any securities of the Issuer that it does not directly own. Each of the Reporting Persons specifically disclaims beneficial ownership of the securities reported herein that it does not directly own.

     

     

     

     

     

     

     

     

     

    CUSIP No.  27827X101

    13D Page 5 of 6 Pages    

    SIGNATURES

     

    After reasonable inquiry and to the best of its knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.

     

     

     

     

    KARPUS MANAGEMENT, INC.

     

     

     

    Dated:  April 8, 2021 By:  /s/ Jodi Hedberg
       

    Name:    Jodi Hedberg

    Title:      Chief Compliance Officer

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    CUSIP No.  27827X101

    13D Page 6 of 6 Pages    

     

     

    SCHEDULE A

     

     

    Executive Officers & Directors of Karpus Management, Inc., d/b/a Karpus Investment Management

     

    Name Position & Present Principal Occupation Business Address Shares Owned
           
    Kathleen Finnerty Crane

    Chief Financial Officer

    183 Sully’s Trail, Pittsford, New York 14534 490 Shares
    Dana R. Consler Executive Vice President 183 Sully’s Trail, Pittsford, New York 14534 6,251 Shares
    Thomas M. Duffy

    Senior Vice President and

    Director of Operations 

    183 Sully’s Trail, Pittsford, New York 14534 53 Shares
    Jodi L. Hedberg Chief Compliance Officer 183 Sully’s Trail, Pittsford, New York 14534 0 Shares
    Daniel L. Lippincott

    Chief Investment Officer

    and President 

    183 Sully’s Trail, Pittsford, New York 14534 0 Shares
    Marijoyce Ryan Senior Vice President 183 Sully’s Trail, Pittsford, New York 14534 1,942 Shares
    Thomas Wayne Griffin Director

    1125 Airport Road, Coatesville, PA 19320

    0 Shares
    Carlos Manuel Yuste Director 1125 Airport Road, Coatesville, PA 19320 0 Shares

     

     


     

     

    SCHEDULE B

     

     

    Transactions in the Shares since the filing of the Schedule 13D, Amendment No. 10 on March 4, 2021

     

    Nature of the Transaction

    Securities

    Purchased/(Sold)

    Price Per

    Share($)

    Date of

    Purchase / Sale

     

    KARPUS MANAGEMENT, INC., D/B/A/ KARPUS INVESTMENT MANAGEMENT
    (THROUGH THE ACCOUNTS)

     

    Sale of Common Stock (20,794) $13.15 3/3/2021
    Sale of Common Stock (20,167) $13.10 3/4/2021
    Sale of Common Stock (14,263) $13.05 3/8/2021
    Sale of Common Stock (17,687) $13.08 3/9/2021
    Sale of Common Stock (73,224) $13.11 3/10/2021
    Sale of Common Stock (659) $13.11 3/11/2021
    Sale of Common Stock (19) $13.11 3/16/2021
    Sale of Common Stock (117,409) $13.09 3/17/2021
    Sale of Common Stock (127,963) $13.02 3/18/2021
    Sale of Common Stock (7,083) $13.05 3/19/2021
    Sale of Common Stock (12,930) $13.08 3/24/2021
    Sale of Common Stock (74,250) $13.07 3/25/2021
    Sale of Common Stock (98,054) $13.13 3/26/2021
    Sale of Common Stock (27,334) $13.16 3/29/2021
    Sale of Common Stock (16,680) $13.22 3/30/2021
    Sale of Common Stock (276) $13.26 3/31/2021
    Sale of Common Stock (55,092) $13.34 4/1/2021
    Sale of Common Stock (5,110) $13.36 4/5/2021
    Sale of Common Stock (30,331) $13.31 4/6/2021

     

     

     

     

     

     

     

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