Saba Capital Income & Opportunities Fund (NYSEARCA:BRW) Shares Up 0.6% Following Dividend Announcement

Saba Capital Income & Opportunities Fund (NYSEARCA:BRW) shares rose 0.6% on Monday after the company announced a dividend. The stock traded as high as $6.58 and last traded at $6.56. 326,562 shares changed hands during mid-day trading, an increase of 34% from the average session volume of 243,882 shares. The stock had previously closed at $6.52.

The newly announced dividend which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 9th will be issued a dividend of $0.085 per share. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a c) annualized dividend and a yield of 15.7%.

Saba Capital Income & Opportunities Fund Trading Up 0.2%

The company’s fifty day simple moving average is $6.60 and its 200 day simple moving average is $6.64.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Cerity Partners LLC increased its stake in Saba Capital Income & Opportunities Fund by 3.3% in the 2nd quarter. Cerity Partners LLC now owns 47,562 shares of the company’s stock worth $383,000 after acquiring an additional 1,525 shares during the last quarter. Baird Financial Group Inc. raised its position in Saba Capital Income & Opportunities Fund by 1.1% during the 2nd quarter. Baird Financial Group Inc. now owns 148,026 shares of the company’s stock valued at $1,193,000 after purchasing an additional 1,655 shares during the last quarter. Parallel Advisors LLC raised its holdings in Saba Capital Income & Opportunities Fund by 25.2% in the 1st quarter. Parallel Advisors LLC now owns 8,556 shares of the company’s stock worth $58,000 after purchasing an additional 1,722 shares in the last quarter. Decision Investments Inc. lifted its holdings in Saba Capital Income & Opportunities Fund by 13.4% in the first quarter. Decision Investments Inc. now owns 17,800 shares of the company’s stock worth $120,000 after buying an additional 2,100 shares during the period. Finally, Corient Private Wealth LLC grew its stake in Saba Capital Income & Opportunities Fund by 14.1% in the fourth quarter. Corient Private Wealth LLC now owns 17,204 shares of the company’s stock worth $121,000 after purchasing an additional 2,126 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. 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.