Saba Capital Income & Opportunities Fund (NYSEARCA:BRW) Stock Price Down 0.3% – Here’s Why

Shares of Saba Capital Income & Opportunities Fund (NYSEARCA:BRW) were down 0.3% on Friday . The company traded as low as $6.88 and last traded at $6.88. Approximately 290,252 shares were traded during mid-day trading, a decline of 4% from the average daily volume of 301,030 shares. The stock had previously closed at $6.90.

Saba Capital Income & Opportunities Fund Trading Down 0.3%

The stock’s fifty day simple moving average is $7.04 and its 200-day simple moving average is $7.62.

Saba Capital Income & Opportunities Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, January 30th. Stockholders of record on Monday, January 12th will be paid a $0.085 dividend. This represents a c) annualized dividend and a dividend yield of 14.8%. The ex-dividend date is Monday, January 12th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of BRW. Newbridge Financial Services Group Inc. purchased a new stake in Saba Capital Income & Opportunities Fund during the 2nd quarter worth about $46,000. Perennial Advisors LLC acquired a new position in shares of Saba Capital Income & Opportunities Fund during the third quarter worth about $78,000. Maridea Wealth Management LLC purchased a new stake in shares of Saba Capital Income & Opportunities Fund during the third quarter worth approximately $86,000. Captrust Financial Advisors increased its stake in shares of Saba Capital Income & Opportunities Fund by 21.5% during the second quarter. Captrust Financial Advisors now owns 16,712 shares of the company’s stock worth $135,000 after buying an additional 2,956 shares during the period. Finally, Apollon Wealth Management LLC acquired a new stake in Saba Capital Income & Opportunities Fund in the third quarter valued at approximately $136,000.

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. 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.