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

Saba Capital Income & Opportunities Fund (NYSEARCA:BRW) 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 firm’s 50 day moving average is $7.65 and its 200 day moving average is $7.40.

Saba Capital Income & Opportunities Fund Dividend Announcement

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

Institutional Investors Weigh In On Saba Capital Income & Opportunities Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sea Otter Advisors LLC bought a new position in Saba Capital Income & Opportunities Fund in the second quarter worth approximately $35,000. Creative Financial Designs Inc. ADV bought a new position in Saba Capital Income & Opportunities Fund in the 3rd quarter worth $74,000. J.W. Cole Advisors Inc. purchased a new position in Saba Capital Income & Opportunities Fund during the second quarter valued at $124,000. Wilmington Savings Fund Society FSB bought a new stake in Saba Capital Income & Opportunities Fund during the third quarter valued at about $215,000. Finally, Wedbush Securities Inc. purchased a new stake in Saba Capital Income & Opportunities Fund in the 2nd quarter worth approximately $271,000.

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.