Saba Capital Income & Opportunities Fund (NYSEARCA:BRW) Shares Up 0.4% – Still a Buy?

Saba Capital Income & Opportunities Fund (NYSEARCA:BRW) shares rose 0.4% on Monday . The stock traded as high as $7.01 and last traded at $6.98. Approximately 685,944 shares were traded during trading, an increase of 178% from the average daily volume of 246,518 shares. The stock had previously closed at $6.95.

Saba Capital Income & Opportunities Fund Trading Up 0.4%

The company has a fifty day moving average price of $7.18 and a 200 day moving average price of $7.75.

Saba Capital Income & Opportunities Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, December 31st. Investors of record on Tuesday, December 9th will be given a dividend of $0.085 per share. The ex-dividend date is Tuesday, December 9th. This represents a c) dividend on an annualized basis and a yield of 14.6%.

Institutional Investors Weigh In On Saba Capital Income & Opportunities Fund

A number of hedge funds have recently added to or reduced their stakes in the stock. Baird Financial Group Inc. boosted its holdings in shares of Saba Capital Income & Opportunities Fund by 17.3% during the first quarter. Baird Financial Group Inc. now owns 146,371 shares of the company’s stock valued at $1,136,000 after acquiring an additional 21,556 shares during the period. Advisors Asset Management Inc. acquired a new position in Saba Capital Income & Opportunities Fund during the 1st quarter valued at about $1,706,000. NewEdge Advisors LLC boosted its stake in Saba Capital Income & Opportunities Fund by 97.4% during the 1st quarter. NewEdge Advisors LLC now owns 241,754 shares of the company’s stock valued at $1,876,000 after purchasing an additional 119,259 shares during the period. Adalta Capital Management LLC grew its position in Saba Capital Income & Opportunities Fund by 20.1% in the 1st quarter. Adalta Capital Management LLC now owns 70,300 shares of the company’s stock worth $546,000 after purchasing an additional 11,765 shares during the last quarter. Finally, Modern Wealth Management LLC increased its stake in shares of Saba Capital Income & Opportunities Fund by 22.9% in the first quarter. Modern Wealth Management LLC now owns 30,725 shares of the company’s stock valued at $238,000 after purchasing an additional 5,725 shares during the period.

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. It primarily invests in floating rate secured senior loans, with an emphasis on top-tier, non-investment grade senior loans. The fund seeks to invest in loans with maturities of one to ten years.