Saba Capital Income & Opportunities Fund (NYSEARCA:BRW) Announces Monthly Dividend of $0.05

Saba Capital Income & Opportunities Fund (NYSEARCA:BRWGet Rating) announced a monthly dividend on Wednesday, May 4th, Wall Street Journal reports. Investors of record on Tuesday, May 24th will be paid a dividend of 0.047 per share on Tuesday, May 31st. This represents a $0.56 dividend on an annualized basis and a yield of 13.12%. The ex-dividend date of this dividend is Monday, May 23rd.

BRW stock opened at $4.30 on Thursday. Saba Capital Income & Opportunities Fund has a 52-week low of $4.23 and a 52-week high of $4.81. The business has a 50-day simple moving average of $4.38 and a two-hundred day simple moving average of $4.49.

Saba Capital Income & Opportunities Fund shares are scheduled to reverse split on the morning of Friday, May 20th. The 1-2 reverse split was announced on Friday, May 20th. The number of shares owned by shareholders will be adjusted after the market closes on Friday, May 20th.

In other Saba Capital Income & Opportunities Fund news, major shareholder Saba Capital Management, L.P. sold 30,455 shares of Saba Capital Income & Opportunities Fund stock in a transaction dated Thursday, March 3rd. The stock was sold at an average price of $4.51, for a total transaction of $137,352.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 35,890 shares of company stock valued at $160,669 in the last quarter.

A number of hedge funds have recently added to or reduced their stakes in the business. Morgan Stanley boosted its stake in shares of Saba Capital Income & Opportunities Fund by 5.3% in the 3rd quarter. Morgan Stanley now owns 1,751,227 shares of the company’s stock worth $7,968,000 after buying an additional 88,102 shares during the last quarter. Wells Fargo & Company MN purchased a new position in shares of Saba Capital Income & Opportunities Fund in the 2nd quarter worth approximately $975,000. Royal Bank of Canada boosted its stake in shares of Saba Capital Income & Opportunities Fund by 15.3% in the 3rd quarter. Royal Bank of Canada now owns 67,777 shares of the company’s stock worth $308,000 after buying an additional 8,972 shares during the last quarter. Guggenheim Capital LLC boosted its stake in shares of Saba Capital Income & Opportunities Fund by 20.2% in the 4th quarter. Guggenheim Capital LLC now owns 67,783 shares of the company’s stock worth $306,000 after buying an additional 11,391 shares during the last quarter. Finally, NewEdge Advisors LLC purchased a new position in shares of Saba Capital Income & Opportunities Fund in the 4th quarter worth approximately $120,000.

Saba Capital Income & Opportunities Fund Company Profile (Get Rating)

Saba Capital Income & Opportunities Fund is a closed-ended fixed income mutual fund launched by Voya Investment Management LLC. The fund is managed by Saba Capital Management, L.P. It invests in the fixed income markets of the United States. The fund seeks to invest in securities of companies operating across diversified sectors.

Further Reading

Dividend History for Saba Capital Income & Opportunities Fund (NYSEARCA:BRW)

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