Saba Capital Income & Opportunities Fund (NYSEARCA:BRW) Stock Price Up 0.4% – Should You Buy?

Saba Capital Income & Opportunities Fund (NYSEARCA:BRW) was up 0.4% during trading on Tuesday . The stock traded as high as $7.84 and last traded at $7.82. Approximately 109,083 shares changed hands during trading, a decline of 33% from the average daily volume of 162,215 shares. The stock had previously closed at $7.79.

Saba Capital Income & Opportunities Fund Stock Up 0.4 %

The firm’s fifty day moving average price is $7.81 and its 200 day moving average price is $7.67.

Saba Capital Income & Opportunities Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 11th will be issued a $0.085 dividend. This represents a $1.02 annualized dividend and a yield of 13.04%. The ex-dividend date is Tuesday, March 11th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of BRW. HighTower Advisors LLC purchased a new position in Saba Capital Income & Opportunities Fund in the third quarter valued at $422,000. Kovitz Investment Group Partners LLC purchased a new position in shares of Saba Capital Income & Opportunities Fund in the 3rd quarter valued at about $18,731,000. Adalta Capital Management LLC increased its stake in shares of Saba Capital Income & Opportunities Fund by 23.7% in the 3rd quarter. Adalta Capital Management LLC now owns 67,775 shares of the company’s stock valued at $514,000 after purchasing an additional 12,985 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Saba Capital Income & Opportunities Fund during the third quarter worth approximately $215,000. Finally, SeaCrest Wealth Management LLC grew its holdings in Saba Capital Income & Opportunities Fund by 11.9% in the fourth quarter. SeaCrest Wealth Management LLC now owns 54,265 shares of the company’s stock valued at $413,000 after purchasing an additional 5,763 shares during the period.

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.