Saba Capital Income & Opportunities Fund (NYSEARCA:BRW) Shares Down 0.1% – Here’s Why

Saba Capital Income & Opportunities Fund (NYSEARCA:BRW)’s share price dropped 0.1% during mid-day trading on Tuesday . The company traded as low as $7.64 and last traded at $7.72. Approximately 143,156 shares traded hands during trading, a decline of 12% from the average daily volume of 162,098 shares. The stock had previously closed at $7.73.

Saba Capital Income & Opportunities Fund Stock Performance

The company’s 50-day simple moving average is $7.63 and its 200 day simple moving average is $7.40.

Saba Capital Income & Opportunities Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th will be given a $0.085 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $1.02 annualized dividend and a yield of 13.21%.

Hedge Funds Weigh In On Saba Capital Income & Opportunities Fund

Several institutional investors have recently made changes to their positions in the company. GraniteShares Advisors LLC boosted its holdings in Saba Capital Income & Opportunities Fund by 15.2% during the second quarter. GraniteShares Advisors LLC now owns 252,008 shares of the company’s stock worth $1,774,000 after buying an additional 33,265 shares in the last quarter. Wedbush Securities Inc. purchased a new stake in shares of Saba Capital Income & Opportunities Fund in the second quarter valued at about $271,000. J.W. Cole Advisors Inc. acquired a new stake in shares of Saba Capital Income & Opportunities Fund during the 2nd quarter worth approximately $124,000. Sea Otter Advisors LLC acquired a new position in shares of Saba Capital Income & Opportunities Fund in the 2nd quarter valued at $35,000. Finally, Peak Financial Advisors LLC raised its stake in shares of Saba Capital Income & Opportunities Fund by 6.4% in the 3rd quarter. Peak Financial Advisors LLC now owns 61,148 shares of the company’s stock valued at $464,000 after acquiring an additional 3,655 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.