Saba Capital Income & Opportunities Fund (NYSEARCA:BRW) Trading Up 0.4% – Time to Buy?

Saba Capital Income & Opportunities Fund (NYSEARCA:BRW) shot up 0.4% during mid-day trading on Tuesday . The stock traded as high as $7.84 and last traded at $7.82. 109,083 shares changed hands during mid-day trading, a decline of 33% from the average session volume of 162,215 shares. The stock had previously closed at $7.79.

Saba Capital Income & Opportunities Fund Stock Performance

The company has a 50 day simple moving average of $7.81 and a two-hundred day simple moving average of $7.67.

Saba Capital Income & Opportunities Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 11th will be issued a $0.085 dividend. This represents a $1.02 annualized dividend and a dividend yield of 13.11%. The ex-dividend date is Tuesday, March 11th.

Institutional Investors Weigh In On Saba Capital Income & Opportunities Fund

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Kovitz Investment Group Partners LLC acquired a new position in shares of Saba Capital Income & Opportunities Fund in the third quarter worth about $18,731,000. Absolute Investment Advisers LLC acquired a new position in Saba Capital Income & Opportunities Fund during the fourth quarter worth about $5,354,000. Quarry LP purchased a new stake in Saba Capital Income & Opportunities Fund during the 4th quarter valued at about $2,105,000. Shaker Financial Services LLC raised its holdings in Saba Capital Income & Opportunities Fund by 129.9% in the 4th quarter. Shaker Financial Services LLC now owns 215,330 shares of the company’s stock valued at $1,641,000 after acquiring an additional 121,673 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its stake in Saba Capital Income & Opportunities Fund by 318.0% in the 4th quarter. NewEdge Advisors LLC now owns 122,495 shares of the company’s stock worth $933,000 after purchasing an additional 93,191 shares in 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.