Saba Closed-End Funds ETF (BATS:CEFS) Shares Up 0.1% – What’s Next?

Saba Closed-End Funds ETF (BATS:CEFS)’s stock price was up 0.1% during mid-day trading on Tuesday. The stock traded as high as $24.98 and last traded at $24.78. Approximately 56,173 shares traded hands during trading, a decline of 37% from the average daily volume of 88,986 shares. The stock had previously closed at $24.75.

Saba Closed-End Funds ETF Trading Up 0.1%

The firm has a market cap of $329.57 million, a PE ratio of 21.88 and a beta of 0.72. The business has a fifty day moving average price of $25.08 and a 200 day moving average price of $24.79.

Saba Closed-End Funds ETF Increases Dividend

The business also recently declared a monthly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Monday, September 28th were paid a $0.2460 dividend. This is an increase from Saba Closed-End Funds ETF’s previous monthly dividend of $0.14. This represents a $2.95 annualized dividend and a yield of 11.9%. The ex-dividend date was Monday, September 28th.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. New England Private Wealth Advisors LLC raised its stake in Saba Closed-End Funds ETF by 6.8% during the 4th quarter. New England Private Wealth Advisors LLC now owns 382,742 shares of the company’s stock worth $8,818,000 after acquiring an additional 24,412 shares in the last quarter. Royal Bank of Canada grew its holdings in shares of Saba Closed-End Funds ETF by 2.6% during the first quarter. Royal Bank of Canada now owns 298,116 shares of the company’s stock worth $6,723,000 after purchasing an additional 7,566 shares during the last quarter. AdvisorNet Financial Inc grew its holdings in shares of Saba Closed-End Funds ETF by 2.1% during the first quarter. AdvisorNet Financial Inc now owns 281,423 shares of the company’s stock worth $6,346,000 after purchasing an additional 5,696 shares during the last quarter. Arete Wealth Advisors LLC grew its holdings in shares of Saba Closed-End Funds ETF by 14.0% during the first quarter. Arete Wealth Advisors LLC now owns 279,934 shares of the company’s stock worth $6,285,000 after purchasing an additional 34,370 shares during the last quarter. Finally, XML Financial LLC increased its position in shares of Saba Closed-End Funds ETF by 16.6% during the second quarter. XML Financial LLC now owns 270,311 shares of the company’s stock worth $6,931,000 after purchasing an additional 38,531 shares in the last quarter.

About Saba Closed-End Funds ETF

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.