Saba Capital Income & Opportunities Fund (NYSEARCA:BRW) Trading 0.6% Higher – Still a Buy?

Saba Capital Income & Opportunities Fund (NYSEARCA:BRW)’s stock price was up 0.6% on Tuesday . The stock traded as high as $6.79 and last traded at $6.79. Approximately 161,385 shares changed hands during trading, a decline of 37% from the average daily volume of 254,903 shares. The stock had previously closed at $6.75.

Saba Capital Income & Opportunities Fund Trading Up 0.6%

The company has a fifty day moving average price of $6.73 and a two-hundred day moving average price of $6.83.

Saba Capital Income & Opportunities Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, May 29th. Stockholders of record on Monday, May 11th will be issued a dividend of $0.085 per share. This represents a c) annualized dividend and a dividend yield of 15.0%. The ex-dividend date is Monday, May 11th.

Hedge Funds Weigh In On Saba Capital Income & Opportunities Fund

Institutional investors have recently modified their holdings of the business. Parallel Advisors LLC lifted its stake in Saba Capital Income & Opportunities Fund by 25.2% in the 1st quarter. Parallel Advisors LLC now owns 8,556 shares of the company’s stock valued at $58,000 after acquiring an additional 1,722 shares in the last quarter. PFG Investments LLC bought a new stake in Saba Capital Income & Opportunities Fund in the 1st quarter valued at approximately $70,000. Lido Advisors LLC bought a new stake in Saba Capital Income & Opportunities Fund in the 1st quarter valued at approximately $78,000. Manchester Financial Inc. bought a new stake in Saba Capital Income & Opportunities Fund in the 4th quarter valued at approximately $84,000. Finally, Maridea Wealth Management LLC bought a new stake in Saba Capital Income & Opportunities Fund in the 3rd quarter valued at approximately $86,000.

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.