Saba Capital Income & Opportunities Fund (NYSEARCA:BRW) Trading Up 0.3% – Here’s Why

Shares of Saba Capital Income & Opportunities Fund (NYSEARCA:BRW) traded up 0.3% during mid-day trading on Monday . The company traded as high as $6.62 and last traded at $6.60. 297,339 shares traded hands during mid-day trading, an increase of 18% from the average daily volume of 252,403 shares. The stock had previously closed at $6.58.

Saba Capital Income & Opportunities Fund Stock Performance

The stock’s fifty day moving average price is $6.73 and its two-hundred day moving average price is $6.74.

Saba Capital Income & Opportunities Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th will be given a dividend of $0.085 per share. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a c) dividend on an annualized basis and a yield of 15.5%.

Hedge Funds Weigh In On Saba Capital Income & Opportunities Fund

Hedge funds and other institutional investors have recently made changes to their positions in the business. Choreo LLC raised its holdings in Saba Capital Income & Opportunities Fund by 44.3% in the 4th quarter. Choreo LLC now owns 137,489 shares of the company’s stock worth $972,000 after purchasing an additional 42,231 shares in the last quarter. Flagship Harbor Advisors LLC boosted its stake in shares of Saba Capital Income & Opportunities Fund by 17.4% during the 4th quarter. Flagship Harbor Advisors LLC now owns 41,750 shares of the company’s stock valued at $293,000 after purchasing an additional 6,201 shares in the last quarter. TrueMark Investments LLC purchased a new position in shares of Saba Capital Income & Opportunities Fund during the fourth quarter valued at about $372,000. Peak Financial Advisors LLC raised its stake in Saba Capital Income & Opportunities Fund by 32.9% in the fourth quarter. Peak Financial Advisors LLC now owns 84,683 shares of the company’s stock worth $594,000 after buying an additional 20,983 shares in the last quarter. Finally, Tactive Advisors LLC purchased a new stake in Saba Capital Income & Opportunities Fund in the fourth quarter worth about $158,000.

About Saba Capital Income & Opportunities Fund

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.