Saba Capital Income & Opportunities Fund (NYSEARCA:BRW) Stock Price Up 1.5% – Here’s What Happened

Saba Capital Income & Opportunities Fund (NYSEARCA:BRW) was up 1.5% on Wednesday . The company traded as high as $7.45 and last traded at $7.41. Approximately 132,436 shares traded hands during mid-day trading, a decline of 21% from the average daily volume of 166,727 shares. The stock had previously closed at $7.30.

Saba Capital Income & Opportunities Fund Stock Performance

The stock has a 50-day simple moving average of $7.61 and a two-hundred day simple moving average of $7.65.

Saba Capital Income & Opportunities Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Wednesday, April 9th will be paid a $0.085 dividend. The ex-dividend date is Wednesday, April 9th. This represents a $1.02 dividend on an annualized basis and a yield of 13.77%.

Hedge Funds Weigh In On Saba Capital Income & Opportunities Fund

Hedge funds and other institutional investors have recently modified their holdings of the company. Noble Wealth Management PBC purchased a new position in Saba Capital Income & Opportunities Fund during the 4th quarter valued at $42,000. Grove Street Fiduciary LLC bought a new stake in shares of Saba Capital Income & Opportunities Fund during the 4th quarter valued at about $88,000. Wells Fargo & Company MN increased its position in shares of Saba Capital Income & Opportunities Fund by 1,248,200.0% during the fourth quarter. Wells Fargo & Company MN now owns 12,483 shares of the company’s stock valued at $95,000 after buying an additional 12,482 shares during the period. AQR Arbitrage LLC purchased a new position in shares of Saba Capital Income & Opportunities Fund during the fourth quarter valued at about $98,000. Finally, Captrust Financial Advisors bought a new position in Saba Capital Income & Opportunities Fund in the fourth quarter worth about $102,000.

Saba Capital Income & Opportunities Fund Company Profile

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.