Shares of Saba Capital Income & Opportunities Fund (NYSEARCA:BRW – Get Rating) fell 0.2% on Friday . The company traded as low as $7.48 and last traded at $7.48. 196,156 shares were traded during mid-day trading, an increase of 69% from the average session volume of 116,100 shares. The stock had previously closed at $7.50.
Saba Capital Income & Opportunities Fund Trading Down 0.2 %
The firm has a fifty day moving average price of $7.85 and a 200 day moving average price of $8.04.
Get Saba Capital Income & Opportunities Fund alerts:Saba Capital Income & Opportunities Fund Increases Dividend
The business also recently declared a monthly dividend, which will be paid on Friday, December 30th. Stockholders of record on Monday, December 12th will be issued a dividend of $0.087 per share. This represents a $1.04 annualized dividend and a dividend yield of 13.96%. The ex-dividend date of this dividend is Friday, December 9th. This is a positive change from Saba Capital Income & Opportunities Fund's previous monthly dividend of $0.09.
Insider Activity at Saba Capital Income & Opportunities Fund
In related news, major shareholder Saba Capital Management, L.P. sold 31,134 shares of the business's stock in a transaction dated Tuesday, November 8th. The shares were sold at an average price of $7.80, for a total value of $242,845.20. Following the sale, the insider now directly owns 4,281,339 shares in the company, valued at approximately $33,394,444.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.Hedge Funds Weigh In On Saba Capital Income & Opportunities Fund
Several institutional investors have recently bought and sold shares of BRW. US Bancorp DE grew its position in shares of Saba Capital Income & Opportunities Fund by 478.6% during the second quarter. US Bancorp DE now owns 3,761 shares of the company's stock worth $30,000 after buying an additional 3,111 shares in the last quarter. Wedbush Securities Inc. acquired a new position in shares of Saba Capital Income & Opportunities Fund during the second quarter worth about $97,000. Jane Street Group LLC acquired a new position in shares of Saba Capital Income & Opportunities Fund during the third quarter worth about $99,000. Landscape Capital Management L.L.C. purchased a new stake in Saba Capital Income & Opportunities Fund during the second quarter worth approximately $126,000. Finally, Moors & Cabot Inc. purchased a new stake in Saba Capital Income & Opportunities Fund during the second quarter worth approximately $161,000.
About Saba Capital Income & Opportunities Fund
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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.
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