Saba Capital Income & Opportunities Fund (NYSEARCA:BRW) Stock Price Up 0.3% – Still a Buy?

Saba Capital Income & Opportunities Fund (NYSEARCA:BRW)’s share price was up 0.3% on Monday . The stock traded as high as $6.62 and last traded at $6.60. 297,339 shares were traded 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 firm’s 50-day simple moving average is $6.73 and its 200-day simple moving average is $6.74.

Saba Capital Income & Opportunities Fund Dividend Announcement

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

Institutional Trading of Saba Capital Income & Opportunities Fund

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Focus Partners Wealth purchased a new stake in shares of Saba Capital Income & Opportunities Fund during the fourth quarter valued at approximately $21,088,000. Rivernorth Capital Management LLC increased its stake in shares of Saba Capital Income & Opportunities Fund by 428.7% in the fourth quarter. Rivernorth Capital Management LLC now owns 2,016,781 shares of the company’s stock worth $14,138,000 after buying an additional 1,635,307 shares during the period. Blue Bell Private Wealth Management LLC increased its stake in shares of Saba Capital Income & Opportunities Fund by 1,520.6% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 760,779 shares of the company’s stock worth $5,333,000 after buying an additional 713,834 shares during the period. Absolute Investment Advisers LLC raised its holdings in Saba Capital Income & Opportunities Fund by 2,087.4% during the 4th quarter. Absolute Investment Advisers LLC now owns 732,116 shares of the company’s stock valued at $5,138,000 after buying an additional 698,647 shares during the last quarter. Finally, Thomas J. Herzfeld Advisors Inc. raised its holdings in Saba Capital Income & Opportunities Fund by 56.1% during the 4th quarter. Thomas J. Herzfeld Advisors Inc. now owns 1,834,714 shares of the company’s stock valued at $12,861,000 after buying an additional 659,707 shares during the last quarter.

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.