Saba Capital Income & Opportunities Fund (NYSEARCA:BRW) Trading Down 0.5% – Time to Sell?

Saba Capital Income & Opportunities Fund (NYSEARCA:BRW) shares were down 0.5% during mid-day trading on Thursday . The company traded as low as $7.64 and last traded at $7.65. Approximately 78,246 shares were traded during trading, a decline of 53% from the average daily volume of 167,467 shares. The stock had previously closed at $7.69.

Saba Capital Income & Opportunities Fund Trading Down 0.5%

The business’s fifty day simple moving average is $7.52 and its 200-day simple moving average is $7.67.

Saba Capital Income & Opportunities Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 9th will be issued a dividend of $0.085 per share. This represents a $1.02 dividend on an annualized basis and a yield of 13.33%. The ex-dividend date is Friday, May 9th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Noble Wealth Management PBC purchased a new position in shares of Saba Capital Income & Opportunities Fund in the fourth quarter valued at $42,000. Grove Street Fiduciary LLC purchased a new position in Saba Capital Income & Opportunities Fund during the fourth quarter worth $88,000. Wells Fargo & Company MN boosted its stake in 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 worth $95,000 after buying an additional 12,482 shares during the period. AQR Arbitrage LLC purchased a new position in Saba Capital Income & Opportunities Fund during the fourth quarter worth $98,000. Finally, Captrust Financial Advisors purchased a new position in Saba Capital Income & Opportunities Fund during the fourth quarter worth $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.