Karpus Reports 7.29M Shares (13.49%) of Eaton Vance Municipal Bond Fund

Rhea-AI Filing Summary

Karpus Management, Inc. amended a Schedule 13G disclosing ownership of 7,294,955 common shares of Eaton Vance Municipal Bond Fund (CUSIP 27827X101), representing 13.49% of the class. Karpus reports sole voting and dispositive power over all reported shares, which are held directly by accounts it manages. Karpus is a New York-registered investment adviser controlled by City of London Investment Group plc but states informational barriers prevent attribution of ownership to the parent. The filing states the shares were acquired in the ordinary course of business and not to influence control.

Positive

• Material stake disclosed: 7,294,955 shares representing 13.49% of the class provides clear transparency to the market
• Sole voting/dispositive power: Karpus reports exclusive control over voting and disposition of these shares, simplifying shareholder contact and engagement

Negative

• None.

Insights

Financial Analyst

TL;DR: A registered adviser holds a material, sole-control stake of 13.49% in EIM, a noteworthy position for investors and fund watchers.

The filing reports Karpus Management's direct ownership of 7,294,955 common shares (13.49%) with exclusive voting and dispositive authority. For a fund with widely held shares, a single reporting entity holding more than 5% is material: it can affect shareholder voting outcomes and signals concentration of investor influence. The filing is an amendment, indicating an update to prior disclosures, and emphasizes that ownership is in the ordinary course of business and not intended to change control.

Corporate Governance Expert

TL;DR: Disclosure frames Karpus as a passive investor with formal controls to avoid attribution to its parent, reducing immediate governance concerns.

Karpus states informational barriers with its parent (CLIG) and certifies the position is held in the ordinary course and not to influence control. The explicit sole voting/dispositive power disclosure is standard and legally significant; it clarifies who will be contacted for stewardship or governance discussions. The certification and CCO signature lend procedural completeness but do not guarantee future voting behavior.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 5)

Eaton Vance Municipal Bond Fund

(Name of Issuer)

Common

(Title of Class of Securities)

27827X101

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 27827X101

1

Names of Reporting Persons

KARPUS MANAGEMENT, INC.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

NEW YORK

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 7,294,955.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 7,294,955.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

7,294,955.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

13.49 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Eaton Vance Municipal Bond Fund
(b)	Address of issuer's principal executive offices: Eaton Vance Management, Two International Place Boston, MA 02110
Item 2.
(a)	Name of person filing: This statement is being filed by Karpus Management, Inc., d/b/a Karpus Investment Management ("Karpus" or the "Reporting Person"). 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 Schedule 13G relates are owned directly by the accounts managed by Karpus.
(b)	Address or principal business office or, if none, residence: 183 Sully's Trail, Pittsford, New York 14534.
(c)	Citizenship: The members of the Karpus Management Committee are US citizens. Karpus is a New York corporation.
(d)	Title of class of securities: Common
(e)	CUSIP No.: 27827X101
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 7,294,955.00
(b)	Percent of class: 13.49 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 7,294,955.00
	(ii) Shared power to vote or to direct the vote: 0.00
	(iii) Sole power to dispose or to direct the disposition of: 7,294,955.00
	(iv) Shared power to dispose or to direct the disposition of: 0.00
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

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.

KARPUS MANAGEMENT, INC.

Signature:	/s/ Jodi L. Hedberg
Name/Title:	Jodi L. Hedberg / Chief Compliance Officer
Date:	08/14/2025

FAQ

What stake does Karpus Management hold in Eaton Vance Municipal Bond Fund (EIM)?

Karpus Management reports beneficial ownership of 7,294,955 shares, equal to 13.49% of the class.

Does Karpus have voting control over the shares of EIM?

Yes. The filing reports sole voting power and sole dispositive power over all 7,294,955 shares.

Is Karpus affiliated with another company that could affect this filing?

Karpus is controlled by City of London Investment Group plc, but the filing states informational barriers exist and ownership is not attributed to the parent.

Was this filing intended to change control of the issuer?

No. The certification states the shares were acquired and are held in the ordinary course of business and not to influence control of the issuer.

Who signed the Schedule 13G/A for Karpus Management?

Jodi L. Hedberg, Chief Compliance Officer, signed the filing dated 08/14/2025.