Saba Capital Management L.P. Sells 147,012 Shares of Neuberger Berman Next Generation Connectivity Fund Inc. $NBXG

Saba Capital Management L.P. reduced its position in Neuberger Berman Next Generation Connectivity Fund Inc. (NYSE:NBXG) by 1.9% in the 1st quarter, Holdings Channel.com reports. The fund owned 7,548,223 shares of the company’s stock after selling 147,012 shares during the quarter. Neuberger Berman Next Generation Connectivity Fund comprises about 2.7% of Saba Capital Management L.P.’s holdings, making the stock its 8th largest position. Saba Capital Management L.P.’s holdings in Neuberger Berman Next Generation Connectivity Fund were worth $97,146,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Kestra Advisory Services LLC acquired a new position in shares of Neuberger Berman Next Generation Connectivity Fund in the 4th quarter valued at $47,000. Rockefeller Capital Management L.P. boosted its stake in Neuberger Berman Next Generation Connectivity Fund by 24.4% during the 4th quarter. Rockefeller Capital Management L.P. now owns 4,266 shares of the company’s stock worth $62,000 after purchasing an additional 837 shares during the period. Global Retirement Partners LLC acquired a new stake in Neuberger Berman Next Generation Connectivity Fund during the 4th quarter worth $62,000. Geneos Wealth Management Inc. purchased a new position in Neuberger Berman Next Generation Connectivity Fund during the 1st quarter worth $57,000. Finally, Fifth Third Bancorp purchased a new position in Neuberger Berman Next Generation Connectivity Fund during the 1st quarter worth $63,000.

Neuberger Berman Next Generation Connectivity Fund Stock Performance

NYSE NBXG opened at $14.87 on Tuesday. The firm’s fifty day moving average is $16.01 and its two-hundred day moving average is $14.65. Neuberger Berman Next Generation Connectivity Fund Inc. has a one year low of $12.32 and a one year high of $17.43.

Neuberger Berman Next Generation Connectivity Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, July 31st. Investors of record on Wednesday, July 15th will be given a $0.12 dividend. This represents a c) annualized dividend and a yield of 9.7%. The ex-dividend date is Wednesday, July 15th.

About Neuberger Berman Next Generation Connectivity Fund

The Neuberger Berman Next Generation Connectivity Fund (NYSE:NBXG) is an actively managed, closed-end fund dedicated to investing in companies driving the evolution of global connectivity infrastructure. Launched in February 2024 by Neuberger Berman, NBXG seeks total return by building a diversified portfolio of equity and equity-related securities in firms involved in 5G networks, fiber-optic systems, satellite communications, data centers, cloud computing, and other emerging technologies that support faster and more reliable digital connections.

Under its investment strategy, NBXG allocates capital across hardware and software providers, telecommunications carriers, semiconductor manufacturers, and equipment suppliers that benefit from the rollout and expansion of next-generation networks.