Saba Capital Income & Opportunities Fund (NYSEARCA:BRW) Trading Up 0.6% After Dividend Announcement

Saba Capital Income & Opportunities Fund (NYSEARCA:BRW) traded up 0.6% during trading on Monday after the company announced a dividend. The stock traded as high as $6.58 and last traded at $6.56. Approximately 326,562 shares were traded during trading, an increase of 34% from the average session volume of 243,882 shares. The stock had previously closed at $6.52.

The newly announced dividend which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 9th will be paid a $0.085 dividend. The ex-dividend date is Wednesday, September 9th. This represents a c) dividend on an annualized basis and a yield of 15.7%.

Saba Capital Income & Opportunities Fund Trading Up 0.3%

The stock’s 50-day simple moving average is $6.60 and its two-hundred day simple moving average is $6.64.

Hedge Funds Weigh In On Saba Capital Income & Opportunities Fund

Hedge funds and other institutional investors have recently made changes to their positions in the business. Parallel Advisors LLC boosted its position in Saba Capital Income & Opportunities Fund by 25.2% in the first quarter. Parallel Advisors LLC now owns 8,556 shares of the company’s stock valued at $58,000 after buying an additional 1,722 shares in the last quarter. PFG Investments LLC bought a new position in shares of Saba Capital Income & Opportunities Fund in the first quarter valued at approximately $70,000. Lido Advisors LLC bought a new position in shares of Saba Capital Income & Opportunities Fund in the first quarter valued at approximately $78,000. Manchester Financial Inc. acquired a new position in shares of Saba Capital Income & Opportunities Fund in the 4th quarter worth approximately $84,000. Finally, Evolve Private Wealth LLC acquired a new position in shares of Saba Capital Income & Opportunities Fund in the 1st quarter worth approximately $94,000.

Saba Capital Income & Opportunities Fund Company Profile

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. It primarily invests in floating rate secured senior loans, with an emphasis on top-tier, non-investment grade senior loans. The fund seeks to invest in loans with maturities of one to ten years.