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

by · The Cerbat Gem

Saba Capital Income & Opportunities Fund (NYSEARCA:BRW – Get Free Report) shares shot up 0.4% on Monday . The company traded as high as $7.01 and last traded at $6.98. 685,944 shares changed hands during mid-day trading, an increase of 178% from the average session volume of 246,518 shares. The stock had previously closed at $6.95.

Saba Capital Income & Opportunities Fund Price Performance

The business’s fifty day simple moving average is $7.16 and its two-hundred day simple moving average is $7.74.

Saba Capital Income & Opportunities Fund Announces Dividend

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

Institutional Trading of Saba Capital Income & Opportunities Fund

Several institutional investors have recently bought and sold shares of BRW. Newbridge Financial Services Group Inc. purchased a new stake in shares of Saba Capital Income & Opportunities Fund in the second quarter valued at approximately $46,000. Perennial Advisors LLC acquired a new stake in Saba Capital Income & Opportunities Fund in the 3rd quarter valued at $78,000. Maridea Wealth Management LLC purchased a new stake in Saba Capital Income & Opportunities Fund in the 3rd quarter worth $86,000. Captrust Financial Advisors increased its holdings in Saba Capital Income & Opportunities Fund by 21.5% in the 2nd quarter. Captrust Financial Advisors now owns 16,712 shares of the company’s stock worth $135,000 after acquiring an additional 2,956 shares in the last quarter. Finally, Apollon Wealth Management LLC acquired a new position in Saba Capital Income & Opportunities Fund during the third quarter worth $136,000.

About Saba Capital Income & Opportunities Fund

(Get Free Report)

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.

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