Saba Closed-End Funds ETF (BATS:CEFS) Stock Crosses Above 200-Day Moving Average – Time to Sell?

Saba Closed-End Funds ETF (BATS:CEFS)’s stock price crossed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $24.35 and traded as high as $24.51. Saba Closed-End Funds ETF shares last traded at $24.37, with a volume of 74,154 shares trading hands.

Saba Closed-End Funds ETF Stock Performance

The firm has a 50-day moving average of $24.70 and a 200-day moving average of $24.36. The firm has a market capitalization of $319.20 million, a P/E ratio of 21.88 and a beta of 0.72.

Saba Closed-End Funds ETF Increases Dividend

The company also recently announced a monthly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Monday, September 28th were given a $0.2460 dividend. The ex-dividend date of this dividend was Monday, September 28th. This is a positive change from Saba Closed-End Funds ETF’s previous monthly dividend of $0.14. This represents a $2.95 annualized dividend and a yield of 12.3%.

Hedge Funds Weigh In On Saba Closed-End Funds ETF

Several institutional investors have recently made changes to their positions in the business. Partners Wealth Management LLC bought a new stake in shares of Saba Closed-End Funds ETF during the 3rd quarter valued at $4,916,000. Independent Financial Group LLC purchased a new position in shares of Saba Closed-End Funds ETF during the 1st quarter valued at $2,365,000. XML Financial LLC boosted its holdings in Saba Closed-End Funds ETF by 16.6% in the 2nd quarter. XML Financial LLC now owns 270,311 shares of the company’s stock worth $6,931,000 after buying an additional 38,531 shares during the period. Arete Wealth Advisors LLC boosted its holdings in Saba Closed-End Funds ETF by 14.0% in the 1st quarter. Arete Wealth Advisors LLC now owns 279,934 shares of the company’s stock worth $6,285,000 after buying an additional 34,370 shares during the period. Finally, Integrated Advisors Network LLC bought a new position in Saba Closed-End Funds ETF in the 3rd quarter worth $483,000.

Saba Closed-End Funds ETF Company Profile

The Saba Closed-End Funds ETF (CEFS) is an exchange-traded fund that mostly invests in target outcome asset allocation. The fund is an actively managed fund-of-funds that seeks to generate high income by investing in closed-end funds trading at a discount to net asset value and hedging for duration risk. CEFS was launched on Mar 21, 2017 and is managed by Saba.