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

Saba Closed-End Funds ETF (BATS:CEFS)’s stock price was up 0.2% during trading on Friday . The stock traded as high as $23.64 and last traded at $23.47. Approximately 77,866 shares traded hands during mid-day 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 Trading Up 0.2%

The company has a market capitalization of $312.15 million, a PE ratio of 21.88 and a beta of 0.72. The company has a fifty day simple moving average of $23.12 and a 200-day simple moving average of $22.81.

Saba Closed-End Funds ETF Cuts Dividend

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

Hedge Funds Weigh In On Saba Closed-End Funds ETF

Institutional investors have recently bought and sold shares of the company. Farther Finance Advisors LLC grew its stake in shares of Saba Closed-End Funds ETF by 9,861.0% in the 4th quarter. Farther Finance Advisors LLC now owns 316,162 shares of the company’s stock valued at $7,284,000 after buying an additional 312,988 shares during the period. Arete Wealth Advisors LLC acquired a new position in Saba Closed-End Funds ETF in the fourth quarter valued at approximately $5,658,000. Columbus Macro LLC lifted its holdings in Saba Closed-End Funds ETF by 3,216.5% in the fourth quarter. Columbus Macro LLC now owns 246,616 shares of the company’s stock valued at $5,682,000 after acquiring an additional 239,180 shares during the last quarter. Quattro Advisors LLC purchased a new position in Saba Closed-End Funds ETF in the fourth quarter worth approximately $2,339,000. Finally, Royal Bank of Canada increased its stake in Saba Closed-End Funds ETF by 310.5% during the first quarter. Royal Bank of Canada now owns 124,181 shares of the company’s stock worth $2,649,000 after acquiring an additional 93,930 shares during the last quarter.

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.