Saba Capital Income & Opportunities Fund (NYSEARCA:BRW) Trading Down 0.1% – Time to Sell?

Shares of Saba Capital Income & Opportunities Fund (NYSEARCA:BRW) dropped 0.1% during trading on Thursday . The company traded as low as $7.37 and last traded at $7.42. Approximately 102,708 shares were traded during mid-day trading, a decline of 36% from the average daily volume of 160,433 shares. The stock had previously closed at $7.43.

Saba Capital Income & Opportunities Fund Stock Performance

The firm’s 50-day simple moving average is $7.42 and its two-hundred day simple moving average is $7.26.

Saba Capital Income & Opportunities Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, October 31st. Investors of record on Wednesday, October 9th will be given a $0.085 dividend. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $1.02 dividend on an annualized basis and a yield of 13.78%.

Institutional Investors Weigh In On Saba Capital Income & Opportunities Fund

Hedge funds have recently added to or reduced their stakes in the business. Adalta Capital Management LLC boosted its position in Saba Capital Income & Opportunities Fund by 4.2% during the first quarter. Adalta Capital Management LLC now owns 50,200 shares of the company’s stock worth $366,000 after purchasing an additional 2,025 shares in the last quarter. SeaCrest Wealth Management LLC grew its holdings in shares of Saba Capital Income & Opportunities Fund by 5.7% in the first quarter. SeaCrest Wealth Management LLC now owns 40,375 shares of the company’s stock valued at $294,000 after purchasing an additional 2,160 shares during the period. Peak Financial Advisors LLC raised its position in shares of Saba Capital Income & Opportunities Fund by 6.4% during the 3rd quarter. Peak Financial Advisors LLC now owns 61,148 shares of the company’s stock valued at $464,000 after buying an additional 3,655 shares during the period. Larson Financial Group LLC purchased a new position in shares of Saba Capital Income & Opportunities Fund during the 1st quarter worth $27,000. Finally, Sea Otter Advisors LLC purchased a new stake in shares of Saba Capital Income & Opportunities Fund in the 2nd quarter valued at approximately $35,000.

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.