Saba Capital Income & Opportunities Fund (NYSEARCA:BRW) Trading 1.5% Higher

Saba Capital Income & Opportunities Fund (NYSEARCA:BRWGet Rating)’s stock price traded up 1.5% during trading on Wednesday . The company traded as high as $8.11 and last traded at $8.11. 84,500 shares changed hands during mid-day trading, a decline of 26% from the average session volume of 113,664 shares. The stock had previously closed at $7.99.

Saba Capital Income & Opportunities Fund Stock Performance

The business has a 50-day simple moving average of $7.84 and a 200-day simple moving average of $8.08.

Saba Capital Income & Opportunities Fund Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, November 30th. Shareholders of record on Wednesday, November 9th will be given a dividend of $0.086 per share. The ex-dividend date of this dividend is Tuesday, November 8th. This represents a $1.03 dividend on an annualized basis and a yield of 12.73%.

Insider Activity

In other news, President Saba Capital Management, L.P. sold 27,832 shares of the company’s stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $8.31, for a total transaction of $231,283.92. Following the transaction, the president now owns 4,316,699 shares of the company’s stock, valued at $35,871,768.69. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Over the last 90 days, insiders have sold 63,192 shares of company stock valued at $508,951.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of BRW. Envestnet Asset Management Inc. grew its stake in Saba Capital Income & Opportunities Fund by 42.7% in the first quarter. Envestnet Asset Management Inc. now owns 682,791 shares of the company’s stock worth $3,086,000 after purchasing an additional 204,450 shares in the last quarter. Scotia Capital Inc. boosted its position in Saba Capital Income & Opportunities Fund by 4.0% during the 1st quarter. Scotia Capital Inc. now owns 96,238 shares of the company’s stock valued at $435,000 after acquiring an additional 3,734 shares in the last quarter. B. Riley Wealth Management Inc. boosted its position in Saba Capital Income & Opportunities Fund by 6.1% during the 1st quarter. B. Riley Wealth Management Inc. now owns 43,750 shares of the company’s stock valued at $198,000 after acquiring an additional 2,500 shares in the last quarter. Raymond James & Associates boosted its position in Saba Capital Income & Opportunities Fund by 55.9% during the 1st quarter. Raymond James & Associates now owns 88,480 shares of the company’s stock valued at $400,000 after acquiring an additional 31,715 shares in the last quarter. Finally, Invesco Ltd. bought a new stake in Saba Capital Income & Opportunities Fund during the 1st quarter valued at $5,740,000.

About Saba Capital Income & Opportunities Fund

(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.

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