Saba Capital Income & Opportunities Fund (NYSEARCA:BRW) Stock Price Up 0.4% – Here’s Why

Saba Capital Income & Opportunities Fund (NYSEARCA:BRW)’s stock price was up 0.4% during trading 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 Stock Performance

The business has a 50 day simple moving average of $7.18 and a 200-day simple moving average of $7.75.

Saba Capital Income & Opportunities Fund Dividend Announcement

The company also recently announced 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 14.6%.

Institutional Investors Weigh In On Saba Capital Income & Opportunities Fund

Hedge funds and other institutional investors have recently bought and sold shares of the business. Boothbay Fund Management LLC bought a new position in shares of Saba Capital Income & Opportunities Fund in the third quarter valued at $754,000. Raymond James Financial Inc. boosted its stake in shares of Saba Capital Income & Opportunities Fund by 5.0% during the 3rd quarter. Raymond James Financial Inc. now owns 103,557 shares of the company’s stock worth $805,000 after acquiring an additional 4,978 shares in the last quarter. Landscape Capital Management L.L.C. acquired a new position in shares of Saba Capital Income & Opportunities Fund in the 3rd quarter worth $670,000. SeaCrest Wealth Management LLC raised its position in shares of Saba Capital Income & Opportunities Fund by 4.9% during the third quarter. SeaCrest Wealth Management LLC now owns 45,759 shares of the company’s stock worth $348,000 after purchasing an additional 2,152 shares during the period. Finally, Parallel Advisors LLC raised its position in shares of Saba Capital Income & Opportunities Fund by 25.0% during the third quarter. Parallel Advisors LLC now owns 24,117 shares of the company’s stock worth $187,000 after purchasing an additional 4,820 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.