Saba Closed-End Funds ETF (BATS:CEFS) Trading Up 0.2% – What’s Next?

Saba Closed-End Funds ETF (BATS:CEFS)’s share price was up 0.2% during mid-day trading on Friday . The stock traded as high as $23.64 and last traded at $23.47. Approximately 77,866 shares traded hands during trading, a decline of 16% from the average daily volume of 92,440 shares. The stock had previously closed at $23.42.

Saba Closed-End Funds ETF Stock Performance

The stock has a 50 day moving average price of $23.12 and a 200 day moving average price of $22.82. The company has a market capitalization of $312.15 million, a P/E ratio of 21.88 and a beta of 0.72.

Saba Closed-End Funds ETF Cuts Dividend

The business also recently declared a monthly dividend, which was paid on Friday, January 30th. Investors of record on Wednesday, January 28th were issued a $0.14 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 7.2%. The ex-dividend date of this dividend was Wednesday, January 28th.

Institutional Trading of Saba Closed-End Funds ETF

A number of large investors have recently bought and sold shares of the company. Allworth Financial LP purchased a new position in shares of Saba Closed-End Funds ETF during the 2nd quarter valued at $62,000. NBC Securities Inc. raised its stake in Saba Closed-End Funds ETF by 14.6% in the 4th quarter. NBC Securities Inc. now owns 6,440 shares of the company’s stock valued at $148,000 after acquiring an additional 821 shares during the period. Anfield Capital Management LLC lifted its holdings in Saba Closed-End Funds ETF by 32.1% during the fourth quarter. Anfield Capital Management LLC now owns 7,429 shares of the company’s stock valued at $171,000 after purchasing an additional 1,806 shares during the last quarter. Encompass More Asset Management bought a new position in Saba Closed-End Funds ETF during the fourth quarter worth about $216,000. Finally, Closed End Fund Advisors Inc. bought a new position in Saba Closed-End Funds ETF during the fourth quarter worth about $241,000.

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.