Saba Capital Income & Opportunities Fund (NYSEARCA:BRW) Stock Price Down 0.7% – Here’s Why

Saba Capital Income & Opportunities Fund (NYSEARCA:BRW)’s stock price traded down 0.7% during mid-day trading on Monday . The company traded as low as $7.08 and last traded at $7.14. 211,807 shares traded hands during trading, a decline of 11% from the average session volume of 237,489 shares. The stock had previously closed at $7.19.

Saba Capital Income & Opportunities Fund Stock Performance

The business has a fifty day moving average of $7.38 and a 200-day moving average of $7.83.

Saba Capital Income & Opportunities Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, December 31st. Investors of record on Tuesday, December 9th will be paid a dividend of $0.085 per share. The ex-dividend date of this dividend is Tuesday, December 9th. This represents a c) annualized dividend and a yield of 14.3%.

Institutional Trading of Saba Capital Income & Opportunities Fund

Institutional investors and hedge funds have recently modified their holdings of the business. Envestnet Asset Management Inc. purchased a new stake in Saba Capital Income & Opportunities Fund during the first quarter valued at about $374,000. Cetera Investment Advisers increased its position in shares of Saba Capital Income & Opportunities Fund by 48.3% during the 1st quarter. Cetera Investment Advisers now owns 59,642 shares of the company’s stock valued at $463,000 after purchasing an additional 19,425 shares during the last quarter. LPL Financial LLC raised its holdings in shares of Saba Capital Income & Opportunities Fund by 130.7% during the 1st quarter. LPL Financial LLC now owns 376,329 shares of the company’s stock valued at $2,920,000 after buying an additional 213,199 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in Saba Capital Income & Opportunities Fund by 194.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 42,890 shares of the company’s stock worth $333,000 after buying an additional 28,348 shares during the last quarter. Finally, Chicago Partners Investment Group LLC boosted its stake in Saba Capital Income & Opportunities Fund by 2.5% in the first quarter. Chicago Partners Investment Group LLC now owns 160,327 shares of the company’s stock worth $1,233,000 after buying an additional 3,876 shares in the last quarter.

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.