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

1/24/24 12:10:32 PM ET

Finance/Investors Services

Finance

Get the next $ENX alert in real time by email

SC 13D/A 1 13DAmend4ENX.txt SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D/A Under the Securities Exchange Act of 1934 (Amendment No. 4) ------------------------------------------------------------------------------- Eaton Vance New York Municipal Bond Fund ( ENX ) ------------------------------------------------------------------------------- (Name of Issuer) Common Stock ------------------------------------------------------------------------------- (Title of Class of Securities) 27827Y109 ------------------------------------------------------------------------------- (CUSIP Number) Paul E. Rasmussen 3300 IDS Center 80 South Eighth Street Minneapolis, MN 55402-4130 ------------------------------------------------------------------------------- (Name, Address, and Telephone Number of Person Authorized to Receive Notices and Communications) January 24, 2024 ------------------------------------------------------------------------------- (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 which is the subject of this Schedule 13D, and is filing this schedule because of sections 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 Rule 13d-7(b) for other parties to whom copies are to be sent. * 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. 27827Y109 ------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON Sit Investment Associates, Inc. ------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) [ ] (b) [x] ------------------------------------------------------------------------------- 3 SEC USE ONLY ------------------------------------------------------------------------------- 4 SOURCE OF FUNDS (See Instructions) 00 ------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] ------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Incorporated in Minnesota ------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF SHARES ----------------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER OWNED BY EACH 2,012,405 Shares REPORTING ----------------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH --------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 2,012,405 Shares ------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,012,405 Shares ------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See instructions) [ ] ------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 11.20% ------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON (See Instructions) IA ------------------------------------------------------------------------------- CUSIP No. 27827Y10 -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON Sit Fixed Income Advisors II, LLC ------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) [ ] (b) [x] ------------------------------------------------------------------------------- 3 SEC USE ONLY ------------------------------------------------------------------------------- 4 SOURCE OF FUNDS (See Instructions) 00 ------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] ------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Incorporated in Minnesota ------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF SHARES ----------------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER OWNED BY EACH 2,012,405 Shares REPORTING ----------------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH ----------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 2,012,405 Shares ------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,012,405 Shares ------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See instructions) [ ] ------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 11.20% 14 TYPE OF REPORTING PERSON (See Instructions) IA EXPLANATORY NOTE: This Amendment No. 4 ("Amendment") amends and supplements the statement on Schedule 13D filed on October 6, 2023, as most recently amended by Amendment No. 3 filed on December 28, 2023 (collectively, the "Original Schedule 13D" and, as amended by this Amendment, the "Schedule 13D"), relating to the shares of Common Stock ("Shares)" of the Eaton Vance New York Municipal Bond Fund(the "Issuer"). Except as specifically provided herein, each Item of the Original Schedule 13D remains unchanged. Capitalized terms used but not otherwise defined herein have the meanings set forth in the Original Schedule 13D. ITEM 4 Purpose of Transaction Item 4 of the Original Schedule 13D is hereby amended to add the following: On January 24, 2024, the Sit Entities delivered a letter to the Issuer expressing concern about the persistently high Net Asset Value ("NAV") discount (the share price relative to net asset value) for the Issuer. The Sit Entities believe that the NAV discount is the result of the Issuer's significant underperformance versus the benchmark, increased volatility versus the benchmark, and considerable reduction in the size of the Issuer's monthly dividends. The Sit Entities believe that the overuse of leverage is the primary driver of these two factors. The Sit Entities requested that the Issuer take corrective action, including proactive measures to reduce the NAV discount. Such action should include providing shareholders with the opportunity to redeem shares at the Fund's NAV. The investment adviser should refund to the Issuer any management fees collected which were based on the value of the borrowed assets during the periods in which the cost of borrowing exceeded the return on the Issuer's holdings. ITEM 5 Interest in Securities of the Issuer Item 5 of the Original Schedule 13D is hereby amended to read as follows: a) and b) The aggregate percentage of Shares reported owned by Sit Entities herein is based upon 17,961,290 Shares outstanding as of January 24, 2024, which is the total number of Shares outstanding as reported on the Issuer's website. As of the date hereof, the Sit Entities may be deemed to be the beneficial owner of 2,012,405 Shares held in client accounts which represent 11.20% of the Issuer's outstanding Shares. Each of the Sit Entities may be deemed to have shared power to vote and dispose of such Shares. However, none of SIA's or SFI's directors or executive officers own Shares directly. c) Transactions in Shares by the Sit Entities in the last 60 days are set forth in Exhibit A. d) The clients of SIA and SFI have the right to participate in the receipt of dividends from, or proceeds from the sales of, the Shares held for their respective accounts. e) Not applicable ITEM 7 Materials to be Filed as Exhibits Item 7 of the Original Schedule 13D is hereby amended to add the following exhibit: Exhibit B: Letter from the Sit Entities to the Issuer, dated January 23, 2024. Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete, and correct. January 24, 2024 By: Sit Investment Associates, Inc. /s/ Roger J. Sit ----------------------------------- Name/Title: Roger J. Sit, Chairman & CEO By: Sit Fixed Income Advisors II, LLC /s/ Roger J. Sit ----------------------------------- Name/Title: Roger J. Sit, Chairman & CEO EXHIBIT A Schedule of Transactions in Shares by Sit Entities in the last 60 days: ------------------ ------------------ ------------------ ------------------ Shares of Common Date of Transaction Stock Purchased Price Transaction Type /(Sold) Per Share ($) ------------------ ------------------ ------------------ ------------------ 11/29/2023 BUY 18,212.00 9.10 11/30/2023 BUY 3,879.00 9.24 11/30/2023 BUY 18,400.00 9.24 11/30/2023 BUY 4,700.00 9.24 11/30/2023 BUY 23,000.00 9.24 12/01/2023 BUY 2,700.00 9.26 12/01/2023 BUY 2,800.00 9.26 12/01/2023 BUY 2,388.00 9.26 12/01/2023 BUY 5,800.00 9.26 12/04/2023 BUY 4,992.00 9.22 12/08/2023 BUY 6,200.00 9.30 12/12/2023 BUY 24,437.00 9.28 12/13/2023 BUY 12,600.00 9.34 12/13/2023 BUY 24,222.00 9.34 12/15/2023 BUY 205.00 9.53 12/18/2023 BUY 3,100.00 9.64 12/19/2023 BUY 32,784.00 9.67 12/21/2023 BUY 435.00 9.58 12/22/2023 BUY 33,380.00 9.65 1/3/2024 BUY 584.00 9.61 1/4/2024 BUY 1,784.00 9.61 1/8/2024 BUY 10,352.00 9.70 1/9/2024 BUY 1,000.00 9.69 1/9/2024 BUY 400.00 9.69 1/9/2024 BUY 5,707.00 9.69 1/9/2024 BUY 3,600.00 9.69 1/10/2024 BUY 3,261.00 9.68 1/10/2024 BUY 1,200.00 9.68 1/10/2024 BUY 5,000.00 9.68 1/10/2024 BUY 2,500.00 9.68 1/12/2024 BUY 901.00 9.68 1/16/2024 BUY 7,500.00 9.65 1/16/2024 BUY 7,500.00 9.65 1/17/2024 BUY 127.00 9.56 1/17/2024 BUY 100.00 9.56 1/17/2024 BUY 500.00 9.56 1/18/2024 BUY 25,000.00 9.60 1/22/2024 BUY 550.00 9.56 1/23/2024 BUY 5,229.00 9.54

Get the next $ENX alert in real time by email

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

Chat with this insight

Recent Analyst Ratings for
$ENX

$ENX
Insider Trading

Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

Large owner Saba Capital Management, L.P. bought $324,086 worth of shares (33,916 units at $9.56) (SEC Form 4)

Large owner Saba Capital Management, L.P. bought $156,945 worth of shares (16,434 units at $9.55) (SEC Form 4)

Large owner Saba Capital Management, L.P. bought $76,330 worth of shares (8,001 units at $9.54) (SEC Form 4)

$ENX
Insider Purchases

Insider purchases reveal critical bullish sentiment about the company from key stakeholders. See them live in this feed.

Large owner Saba Capital Management, L.P. bought $324,086 worth of shares (33,916 units at $9.56) (SEC Form 4)

Large owner Saba Capital Management, L.P. bought $156,945 worth of shares (16,434 units at $9.55) (SEC Form 4)

Large owner Saba Capital Management, L.P. bought $76,330 worth of shares (8,001 units at $9.54) (SEC Form 4)

$ENX
Press Releases

Fastest customizable press release news feed in the world

Distribution Dates and Amounts Announced for Eaton Vance Closed-End Funds

Distribution Dates and Amounts Announced for Eaton Vance Closed-End Funds

Distribution Dates and Amounts Announced for Eaton Vance Closed-End Funds

$ENX
SEC Filings

Amendment: SEC Form SCHEDULE 13D/A filed by Eaton Vance New York Municipal Bond Fund

SEC Form N-CEN filed by Eaton Vance New York Municipal Bond Fund

SEC Form N-CSR filed by Eaton Vance New York Municipal Bond Fund

$ENX
Financials

Live finance-specific insights

Distribution Dates and Amounts Announced for Eaton Vance Closed-End Funds

Distribution Dates and Amounts Announced for Eaton Vance Closed-End Funds

Distribution Dates and Amounts Announced for Eaton Vance Closed-End Funds

$ENX
Large Ownership Changes

This live feed shows all institutional transactions in real time.

Amendment: SEC Form SC 13D/A filed by Eaton Vance New York Municipal Bond Fund