Saba Closed-End Funds ETF (BATS:CEFS) Shares Down 0.4% – What’s Next?

Saba Closed-End Funds ETF (BATS:CEFS)’s stock price was down 0.4% during mid-day trading on Monday . The company traded as low as $25.06 and last traded at $25.29. 44,639 shares traded hands during trading, a decline of 51% from the average session volume of 91,635 shares. The stock had previously closed at $25.38.

Saba Closed-End Funds ETF Stock Down 0.4%

The company’s fifty day moving average price is $25.29 and its 200 day moving average price is $23.93. The company has a market capitalization of $336.36 million, a P/E ratio of 21.88 and a beta of 0.72.

Hedge Funds Weigh In On Saba Closed-End Funds ETF

A number of hedge funds have recently added to or reduced their stakes in CEFS. Royal Bank of Canada lifted its position in shares of Saba Closed-End Funds ETF by 310.5% during the 1st quarter. Royal Bank of Canada now owns 124,181 shares of the company’s stock valued at $2,649,000 after acquiring an additional 93,930 shares during the period. NewEdge Advisors LLC lifted its position in Saba Closed-End Funds ETF by 8.6% during the first quarter. NewEdge Advisors LLC now owns 25,306 shares of the company’s stock worth $540,000 after purchasing an additional 1,999 shares during the period. Raymond James Financial Inc. grew its stake in Saba Closed-End Funds ETF by 49.0% during the second quarter. Raymond James Financial Inc. now owns 263,270 shares of the company’s stock worth $5,855,000 after buying an additional 86,527 shares in the last quarter. Tidal Investments LLC acquired a new stake in Saba Closed-End Funds ETF during the second quarter worth about $481,000. Finally, Visionary Wealth Advisors increased its holdings in Saba Closed-End Funds ETF by 7.6% in the 2nd quarter. Visionary Wealth Advisors now owns 75,401 shares of the company’s stock valued at $1,677,000 after buying an additional 5,299 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.