Saba Capital Income & Opportunities Fund (NYSEARCA:BRW) Stock Price Down 0.6% – Here’s Why

Saba Capital Income & Opportunities Fund (NYSEARCA:BRW)’s share price fell 0.6% during mid-day trading on Tuesday . The company traded as low as $7.87 and last traded at $7.88. 149,540 shares traded hands during trading, a decline of 40% from the average session volume of 249,496 shares. The stock had previously closed at $7.93.

Saba Capital Income & Opportunities Fund Stock Down 0.6 %

The business’s 50 day moving average is $7.78 and its 200-day moving average is $7.61.

Saba Capital Income & Opportunities Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, February 28th. Stockholders of record on Tuesday, February 11th will be paid a $0.085 dividend. The ex-dividend date is Tuesday, February 11th. This represents a $1.02 annualized dividend and a dividend yield of 12.94%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BRW. J.W. Cole Advisors Inc. grew its holdings in shares of Saba Capital Income & Opportunities Fund by 429.9% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 93,440 shares of the company’s stock worth $709,000 after purchasing an additional 75,806 shares in the last quarter. Creative Financial Designs Inc. ADV acquired a new stake in Saba Capital Income & Opportunities Fund during the third quarter worth $74,000. Chicago Partners Investment Group LLC boosted its stake in Saba Capital Income & Opportunities Fund by 10.9% during the third quarter. Chicago Partners Investment Group LLC now owns 151,557 shares of the company’s stock worth $1,126,000 after buying an additional 14,864 shares in the last quarter. Marks Group Wealth Management Inc increased its holdings in Saba Capital Income & Opportunities Fund by 0.7% in the 3rd quarter. Marks Group Wealth Management Inc now owns 185,636 shares of the company’s stock valued at $1,409,000 after buying an additional 1,380 shares during the period. Finally, Penserra Capital Management LLC acquired a new position in shares of Saba Capital Income & Opportunities Fund in the 3rd quarter valued at $9,158,000.

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.