Ares Financial Consulting LLC Makes New Investment in Saba Closed-End Funds ETF $CEFS

Ares Financial Consulting LLC bought a new position in shares of Saba Closed-End Funds ETF (BATS:CEFS) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 36,740 shares of the company’s stock, valued at approximately $846,000. Saba Closed-End Funds ETF makes up 0.8% of Ares Financial Consulting LLC’s holdings, making the stock its 28th largest position. Ares Financial Consulting LLC owned about 0.28% of Saba Closed-End Funds ETF at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Farther Finance Advisors LLC boosted its holdings in Saba Closed-End Funds ETF by 9,861.0% during the fourth quarter. Farther Finance Advisors LLC now owns 316,162 shares of the company’s stock worth $7,284,000 after buying an additional 312,988 shares in the last quarter. Columbus Macro LLC grew its holdings in shares of Saba Closed-End Funds ETF by 3,216.5% in the 4th quarter. Columbus Macro LLC now owns 246,616 shares of the company’s stock worth $5,682,000 after acquiring an additional 239,180 shares during the period. Royal Bank of Canada increased its stake in Saba Closed-End Funds ETF by 310.5% in the 1st quarter. Royal Bank of Canada now owns 124,181 shares of the company’s stock valued at $2,649,000 after purchasing an additional 93,930 shares in the last quarter. Raymond James Financial Inc. increased its stake in Saba Closed-End Funds ETF by 49.0% in the 2nd quarter. Raymond James Financial Inc. now owns 263,270 shares of the company’s stock valued at $5,855,000 after purchasing an additional 86,527 shares in the last quarter. Finally, AdvisorNet Financial Inc raised its holdings in Saba Closed-End Funds ETF by 42.0% during the fourth quarter. AdvisorNet Financial Inc now owns 275,727 shares of the company’s stock worth $6,353,000 after purchasing an additional 81,559 shares during the last quarter.

Saba Closed-End Funds ETF Stock Performance

CEFS opened at $24.40 on Tuesday. The business’s fifty day moving average is $23.18 and its two-hundred day moving average is $23.00. The company has a market cap of $324.52 million, a price-to-earnings ratio of 21.88 and a beta of 0.72. Saba Closed-End Funds ETF has a one year low of $20.76 and a one year high of $24.71.

Saba Closed-End Funds ETF Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Friday, February 27th. Investors of record on Wednesday, February 25th were paid a $0.14 dividend. This represents a c) dividend on an annualized basis and a yield of 6.9%. The ex-dividend date of this dividend was Wednesday, February 25th.

About Saba Closed-End Funds ETF

The Saba Closed-End Funds ETF (CEFS) is an exchange-traded fund that mostly invests in target outcome asset allocation. The fund is an actively managed fund-of-funds that seeks to generate high income by investing in closed-end funds trading at a discount to net asset value and hedging for duration risk. CEFS was launched on Mar 21, 2017 and is managed by Saba.