Saba Closed-End Funds ETF (BATS:CEFS) Stock Jumps 1.8% – Here’s Why

Shares of Saba Closed-End Funds ETF (BATS:CEFS) traded up 1.8% during trading on Tuesday. The stock traded as high as $24.29 and last traded at $24.28. 98,955 shares changed hands during trading, an increase of 11% from the average daily volume of 89,340 shares. The stock had previously closed at $23.86.

Saba Closed-End Funds ETF Stock Up 1.8%

The company has a market cap of $322.92 million, a PE ratio of 21.88 and a beta of 0.72. The stock’s 50 day simple moving average is $24.78 and its two-hundred day simple moving average is $24.34.

Saba Closed-End Funds ETF Increases Dividend

The company also recently announced a monthly dividend, which was paid on Wednesday, September 30th. Investors of record on Monday, September 28th were given a $0.2460 dividend. This is an increase from Saba Closed-End Funds ETF’s previous monthly dividend of $0.14. The ex-dividend date of this dividend was Monday, September 28th. This represents a $2.95 annualized dividend and a dividend yield of 12.2%.

Institutional Investors Weigh In On Saba Closed-End Funds ETF

A number of institutional investors have recently added to or reduced their stakes in CEFS. New England Private Wealth Advisors LLC increased its stake in Saba Closed-End Funds ETF by 0.6% during the third quarter. New England Private Wealth Advisors LLC now owns 413,233 shares of the company’s stock worth $10,131,000 after acquiring an additional 2,356 shares during the last quarter. AdvisorNet Financial Inc lifted its stake in shares of Saba Closed-End Funds ETF by 4.8% in the 3rd quarter. AdvisorNet Financial Inc now owns 338,747 shares of the company’s stock valued at $8,130,000 after purchasing an additional 15,539 shares in the last quarter. Royal Bank of Canada lifted its stake in shares of Saba Closed-End Funds ETF by 2.6% in the 1st quarter. Royal Bank of Canada now owns 298,116 shares of the company’s stock valued at $6,723,000 after purchasing an additional 7,566 shares in the last quarter. Columbus Macro LLC grew its holdings in shares of Saba Closed-End Funds ETF by 6.8% during the 3rd quarter. Columbus Macro LLC now owns 292,136 shares of the company’s stock worth $7,162,000 after purchasing an additional 18,521 shares during the period. Finally, Arete Wealth Advisors LLC grew its holdings in shares of Saba Closed-End Funds ETF by 14.0% during the 1st quarter. Arete Wealth Advisors LLC now owns 279,934 shares of the company’s stock worth $6,285,000 after purchasing an additional 34,370 shares during the period.

Saba Closed-End Funds ETF Company Profile

The Saba Closed-End Funds ETF (CEFS) is an exchange-traded fund that mostly invests in target outcome asset allocation. The fund is an actively managed fund-of-funds that seeks to generate high income by investing in closed-end funds trading at a discount to net asset value and hedging for duration risk. CEFS was launched on Mar 21, 2017 and is managed by Saba.