Saba Capital Income & Opportunities Fund (NYSEARCA:BRW) Trading 0.4% Higher – Here’s Why

Saba Capital Income & Opportunities Fund (NYSEARCA:BRW) traded up 0.4% during trading on Wednesday . The stock traded as high as $6.72 and last traded at $6.70. 190,224 shares were traded during trading, a decline of 24% from the average session volume of 249,090 shares. The stock had previously closed at $6.67.

Saba Capital Income & Opportunities Fund Stock Performance

The stock’s 50-day simple moving average is $6.67 and its two-hundred day simple moving average is $6.69.

Saba Capital Income & Opportunities Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, July 31st. Investors of record on Thursday, July 9th will be paid a dividend of $0.085 per share. The ex-dividend date of this dividend is Thursday, July 9th. This represents a c) dividend on an annualized basis and a dividend yield of 15.2%.

Hedge Funds Weigh In On Saba Capital Income & Opportunities Fund

Hedge funds have recently added to or reduced their stakes in the company. Focus Partners Wealth purchased a new position in shares of Saba Capital Income & Opportunities Fund during the fourth quarter valued at approximately $21,088,000. Rivernorth Capital Management LLC lifted its stake in shares of Saba Capital Income & Opportunities Fund by 428.7% during the 4th quarter. Rivernorth Capital Management LLC now owns 2,016,781 shares of the company’s stock worth $14,138,000 after acquiring an additional 1,635,307 shares during the last quarter. Blue Bell Private Wealth Management LLC boosted its holdings in Saba Capital Income & Opportunities Fund by 1,520.6% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 760,779 shares of the company’s stock valued at $5,333,000 after acquiring an additional 713,834 shares during the period. Absolute Investment Advisers LLC grew its position in Saba Capital Income & Opportunities Fund by 2,087.4% in the 4th quarter. Absolute Investment Advisers LLC now owns 732,116 shares of the company’s stock valued at $5,138,000 after acquiring an additional 698,647 shares during the last quarter. Finally, Thomas J. Herzfeld Advisors Inc. increased its stake in Saba Capital Income & Opportunities Fund by 56.1% in the fourth quarter. Thomas J. Herzfeld Advisors Inc. now owns 1,834,714 shares of the company’s stock worth $12,861,000 after purchasing an additional 659,707 shares during the period.

About Saba Capital Income & Opportunities Fund

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.