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Upturn AI Summary - About
Eaton Vance Municipal Income Closed Fund(EVN)
Advisory History & Simulated Performance *
*as per simulation (see disclosures)- ALL
- 1Y
- 1M
- 1W
- BUY Advisory
- SELL Advisory (Profit)
- SELL Advisory (Loss)
- Profit
- Loss
- PASS (Skip)
Stock price based on last close Advisory Performance History (Simulated)
Upturn Advisory & Investor View for EVN
11/09/2026: EVN (1-star) has a low Upturn Star Rating. Not recommended to BUY.
Eaton Vance Municipal Income Closed Fund (EVN) is a closed-end investment company that specializes in providing federal income tax-exempt dividends through a diversified portfolio of high-quality municipal bonds. The fund is known for its ability to generate consistent tax-advantaged income, supported by the institutional expertise of its management team, now part of Morgan Stanley. Its primary investment story centers on providing stability and yield for income-focused investors. However, the fund faces risks from interest rate fluctuations, the potential for market price discounts to its Net Asset Value, and the use of leverage. It is well-suited for investors seeking tax-efficient cash flow, provided they monitor interest rate trends closely.
How to Read the Upturn Advisory
The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.
Company fundamentals, valuation, risks, and news provide supporting context about the business.
Investor Fit
| Investor style | Fit | Why |
|---|---|---|
| Growth investor | Weak fit | This fund is designed for income generation rather than long-term capital appreciation. |
| Momentum investor | Weak fit | The fund typically exhibits lower price volatility compared to growth stocks, making it less suitable for momentum strategies. |
| Value investor | Mixed fit | Investors may find value when the fund trades at a significant discount to its NAV. |
| Dividend investor | Strong fit | The fund is specifically structured to provide consistent, tax-advantaged income to shareholders. |
| Low-risk investor | Mixed fit | While the holdings are primarily investment-grade, the use of leverage and interest rate sensitivity introduces risks that may not suit the most conservative investors. |
Risk Profile
| Risk factor | Level | Why it matters |
|---|---|---|
| Price volatility | Medium | Changes in interest rates and market sentiment can lead to fluctuations in the fund's market price. |
| Valuation risk | Medium | The market price of the fund may deviate from its underlying Net Asset Value. |
| Competition risk (interest rate sensitive peers) | Medium | The fund competes with other income-yielding assets, making it vulnerable to relative performance shifts. |
| Business quality | Strong | The fund benefits from the established management and research infrastructure of Morgan Stanley Investment Management. |
| Dividend income | Medium / high | Dividend payouts are dependent on the income generated by the underlying municipal bonds and the cost of leverage. |
| Execution risk | Low | The investment management process is well-defined and based on established institutional practices. |
Price Behavior
Downtrend
The stock has experienced a sustained decline in price over recent periods.
Smooth
The stock has moved along a generally orderly path with only modest fluctuations.
Analysis of Past Performance
Type Stock | Historic Profit 16.47% | Avg. Invested days 59 | Today’s Advisory Consider higher Upturn Star rating |
Upturn Advisory Rating  | Upturn Advisory Performance  3.0 | Stock Returns Performance  2.0 |
| Profits based on simulation | Last Close 11/09/2026 |
Upturn Scorecard
Upturn Star Rating 
Company Fundamentals
Financial Health Rating
Growth Momentum Score
Ownership
Unit Economics (Per $1K Revenue)
Economic Dimensions
Quantitative Style Profile
Style Classification
Quality Focused
Key Highlights
Company Size Small-Cap Stock | Market Capitalization 407.21M USD | Price to earnings Ratio 10.97 | 1Y Target Price - |
Price to earnings Ratio 10.97 | 1Y Target Price - | ||
Volume (30-day avg) 187.3K shares | Beta 0.67 | 52 Weeks Range 8.95 - 11.04 | Updated Date 11/09/2026 |
52 Weeks Range 8.95 - 11.04 | Updated Date 11/09/2026 | ||
Dividends yield (FY) 3.04% | Basic EPS (TTM) 0.93 |
How Company Makes Money
| Business area | What it includes | Retail investor read |
|---|---|---|
| Municipal Bond Investment | Interest income from municipal obligations held in the portfolio. | The fund earns money by collecting interest on municipal bonds and passes that income to you, usually tax-free. |
Valuation
Trailing PE 10.97 | Forward PE - | Enterprise Value 625.86M | Price to Sales(TTM) 13.11 |
Enterprise Value 625.86M | Price to Sales(TTM) 13.11 | ||
Enterprise Value to Revenue 16.32 | Enterprise Value to EBITDA - | Shares Outstanding 39.92M | Shares Floating - |
Shares Outstanding 39.92M | Shares Floating - | ||
Percent Insiders - | Percent Institutions 22.17 |
Financial Metrics
🧭 Investment Snapshot
Total Revenue (Scale)
Total money earned from selling products or services before any costs. It is needed to understand the scale of the business and its ability to generate income.
Net Income (Profit)
Final profit after all expenses, interest, and taxes are deducted. It is needed to determine the overall profitability available to shareholders.
Free Cash Flow (Cash Strength)
Cash remaining after operating activities and capital expenditures, showing cash available for growth. It is needed to evaluate the company’s ability to invest, pay dividends, or reduce debt.
📈 Growth & Strength
Operating Income (Core Profit)
Profit from core operations after deducting all operating expenses. It is needed to measure how efficiently the company runs its primary business activities.
EBITDA (Cash Earnings)
Earnings before interest, taxes, depreciation, and amortization, indicating operating cash potential. It is needed to compare operating performance across companies without accounting or financing differences.
Gross Profit (Unit Profitability)
Revenue minus cost of revenue, showing profit after direct production costs. It is needed to evaluate core business profitability before overhead expenses.
🛡️ Financial Safety
Cash (Liquidity Buffer)
Total cash and cash equivalents on hand. It is needed to evaluate immediate liquidity and financial flexibility.
Total Debt (Leverage Risk)
Total debt including both short-term and long-term components. It is needed to assess the company’s leverage and financial risk.
Net Working Capital (Short-Term Health)
Current assets minus current liabilities, indicating short-term liquidity strength. It is needed to assess whether the company can meet its short-term obligations.
🧱 Balance Sheet Strength
Stockholder Equity (Net Worth)
Total equity value held by shareholders. It is needed to understand the net worth of the company from the owners’ perspective.
Total Assets (Asset Base)
The full value of everything the company owns, including cash, inventory, equipment, and investments. It is needed to understand the resource base used to generate revenue.
Income Before Tax (Pre-Tax Earnings)
Income before provision for income taxes. It is needed to analyze profitability independent of tax structures.
⚙️ Cost & Drag Factors
Cost of Revenue (Production Cost)
Direct costs required to produce and deliver the products or services sold. It is needed to assess efficiency in production and service delivery.
Total Operating Expenses (Operating Cost)
Indirect costs of running the business such as salaries, marketing, and administration. It is needed to understand how much it costs to sustain ongoing business operations.
Income Tax Expense (Tax Drag)
Amount of taxes paid or payable to the government. It is needed to evaluate the impact of taxation on overall profitability.
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