Neuberger Berman Next Generation Connectivity Fund Inc. $NBXG Stake Trimmed by Saba Capital Management L.P.

Saba Capital Management L.P. cut its holdings in shares of Neuberger Berman Next Generation Connectivity Fund Inc. (NYSE:NBXG) by 1.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,548,223 shares of the company’s stock after selling 147,012 shares during the quarter. Neuberger Berman Next Generation Connectivity Fund accounts for 2.7% of Saba Capital Management L.P.’s investment portfolio, making the stock its 8th largest position. Saba Capital Management L.P.’s holdings in Neuberger Berman Next Generation Connectivity Fund were worth $97,146,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NBXG. Morgan Stanley increased its position in shares of Neuberger Berman Next Generation Connectivity Fund by 10.2% during the fourth quarter. Morgan Stanley now owns 6,265,820 shares of the company’s stock worth $90,478,000 after acquiring an additional 577,847 shares during the period. Bank of America Corp DE raised its stake in shares of Neuberger Berman Next Generation Connectivity Fund by 71.9% in the second quarter. Bank of America Corp DE now owns 946,968 shares of the company’s stock valued at $13,826,000 after acquiring an additional 395,994 shares in the last quarter. Wolverine Asset Management LLC purchased a new position in Neuberger Berman Next Generation Connectivity Fund in the fourth quarter valued at $3,456,000. Altium Capital Management LLC purchased a new position in Neuberger Berman Next Generation Connectivity Fund in the fourth quarter valued at $2,453,000. Finally, Evolve Private Wealth LLC purchased a new position in Neuberger Berman Next Generation Connectivity Fund in the fourth quarter valued at $1,597,000.

Neuberger Berman Next Generation Connectivity Fund Price Performance

NBXG opened at $14.87 on Tuesday. The business has a fifty day moving average price of $16.01 and a 200 day moving average price of $14.65. Neuberger Berman Next Generation Connectivity Fund Inc. has a 12 month low of $12.32 and a 12 month high of $17.43.

Neuberger Berman Next Generation Connectivity Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a c) dividend on an annualized basis and a dividend yield of 9.7%.

About Neuberger Berman Next Generation Connectivity Fund

The Neuberger Berman Next Generation Connectivity Fund (NYSE:NBXG) is an actively managed, closed-end fund dedicated to investing in companies driving the evolution of global connectivity infrastructure. Launched in February 2024 by Neuberger Berman, NBXG seeks total return by building a diversified portfolio of equity and equity-related securities in firms involved in 5G networks, fiber-optic systems, satellite communications, data centers, cloud computing, and other emerging technologies that support faster and more reliable digital connections.

Under its investment strategy, NBXG allocates capital across hardware and software providers, telecommunications carriers, semiconductor manufacturers, and equipment suppliers that benefit from the rollout and expansion of next-generation networks.