Saba Capital Income & Opportunities Fund (NYSEARCA:BRW) Stock Price Down 0.3% – Here’s Why

Saba Capital Income & Opportunities Fund (NYSEARCA:BRW)’s stock price fell 0.3% during mid-day trading on Friday . The company traded as low as $6.88 and last traded at $6.88. 290,252 shares changed hands during trading, a decline of 4% from the average session volume of 301,030 shares. The stock had previously closed at $6.90.

Saba Capital Income & Opportunities Fund Price Performance

The company has a 50 day simple moving average of $7.04 and a 200 day simple moving average of $7.62.

Saba Capital Income & Opportunities Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, January 30th. Stockholders of record on Monday, January 12th will be given a $0.085 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 14.8%. The ex-dividend date of this dividend is Monday, January 12th.

Institutional Investors Weigh In On Saba Capital Income & Opportunities Fund

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Gridiron Partners LLC grew its holdings in shares of Saba Capital Income & Opportunities Fund by 188,699.5% in the 3rd quarter. Gridiron Partners LLC now owns 42,630,926 shares of the company’s stock valued at $331,242,000 after acquiring an additional 42,608,346 shares in the last quarter. Penserra Capital Management LLC bought a new position in Saba Capital Income & Opportunities Fund in the third quarter valued at approximately $9,089,000. Envestnet Asset Management Inc. increased its position in shares of Saba Capital Income & Opportunities Fund by 1,259.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 710,277 shares of the company’s stock worth $5,519,000 after purchasing an additional 658,039 shares during the last quarter. Seven Mile Advisory acquired a new position in shares of Saba Capital Income & Opportunities Fund during the 3rd quarter worth approximately $4,737,000. Finally, Thomas J. Herzfeld Advisors Inc. bought a new stake in shares of Saba Capital Income & Opportunities Fund during the 2nd quarter worth approximately $3,598,000.

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.