Saba Closed-End Funds ETF (BATS:CEFS) Share Price Breaks Above Two Hundred Day Moving Average – What’s Next?

Saba Closed-End Funds ETF (BATS:CEFS)’s stock price crossed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $24.35 and traded as high as $24.51. Saba Closed-End Funds ETF shares last traded at $24.37, with a volume of 74,154 shares traded.

Saba Closed-End Funds ETF Stock Up 0.4%

The stock has a market capitalization of $324.12 million, a PE ratio of 21.88 and a beta of 0.72. The business’s 50-day moving average is $24.75 and its two-hundred day moving average is $24.35.

Saba Closed-End Funds ETF Increases Dividend

The company also recently disclosed a monthly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Monday, September 28th were issued a dividend of $0.2460 per share. The ex-dividend date of this dividend was Monday, September 28th. This is a positive change from Saba Closed-End Funds ETF’s previous monthly dividend of $0.14. This represents a $2.95 annualized dividend and a dividend yield of 12.1%.

Institutional Trading of Saba Closed-End Funds ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. New England Private Wealth Advisors LLC lifted its holdings in shares of Saba Closed-End Funds ETF by 0.6% in the 3rd quarter. New England Private Wealth Advisors LLC now owns 413,233 shares of the company’s stock valued at $10,131,000 after purchasing an additional 2,356 shares during the last quarter. AdvisorNet Financial Inc boosted its position in shares of Saba Closed-End Funds ETF by 4.8% in the 3rd quarter. AdvisorNet Financial Inc now owns 338,747 shares of the company’s stock valued at $8,130,000 after purchasing an additional 15,539 shares during the period. Royal Bank of Canada grew its stake in Saba Closed-End Funds ETF by 2.6% during the 1st quarter. Royal Bank of Canada now owns 298,116 shares of the company’s stock worth $6,723,000 after buying an additional 7,566 shares during the last quarter. Columbus Macro LLC grew its stake in Saba Closed-End Funds ETF by 6.8% during the 3rd quarter. Columbus Macro LLC now owns 292,136 shares of the company’s stock worth $7,162,000 after buying an additional 18,521 shares during the last quarter. Finally, Arete Wealth Advisors LLC grew its stake in Saba Closed-End Funds ETF by 14.0% during the 1st quarter. Arete Wealth Advisors LLC now owns 279,934 shares of the company’s stock worth $6,285,000 after buying an additional 34,370 shares during 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.