Saba Closed-End Funds ETF (BATS:CEFS) Stock Price Up 5% – Time to Buy?

Saba Closed-End Funds ETF (BATS:CEFS)’s stock price rose 5% during mid-day trading on Thursday . The company traded as high as $22.40 and last traded at $23.10. Approximately 88,133 shares were traded during trading, an increase of 21% from the average daily volume of 72,660 shares. The stock had previously closed at $22.00.

Saba Closed-End Funds ETF Stock Up 5.0%

The stock has a market capitalization of $307.23 million, a P/E ratio of 21.88 and a beta of 0.72. The firm’s 50-day simple moving average is $22.82 and its 200 day simple moving average is $22.68.

Saba Closed-End Funds ETF Increases Dividend

The firm also recently announced a monthly dividend, which was paid on Wednesday, December 31st. Investors of record on Tuesday, December 30th were paid a dividend of $0.266 per share. This is a boost from Saba Closed-End Funds ETF’s previous monthly dividend of $0.14. This represents a c) annualized dividend and a yield of 13.8%. The ex-dividend date of this dividend was Tuesday, December 30th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Allworth Financial LP bought a new position in shares of Saba Closed-End Funds ETF in the second quarter valued at $62,000. Farther Finance Advisors LLC grew its holdings in shares of Saba Closed-End Funds ETF by 20.3% in the 2nd quarter. Farther Finance Advisors LLC now owns 2,792 shares of the company’s stock worth $62,000 after acquiring an additional 471 shares during the last quarter. Columbus Macro LLC raised its position in shares of Saba Closed-End Funds ETF by 38.1% during the second quarter. Columbus Macro LLC now owns 9,609 shares of the company’s stock worth $214,000 after purchasing an additional 2,652 shares during the period. Newbridge Financial Services Group Inc. acquired a new stake in shares of Saba Closed-End Funds ETF during the second quarter worth $249,000. Finally, Private Advisor Group LLC boosted its position in shares of Saba Closed-End Funds ETF by 29.5% in the 3rd quarter. Private Advisor Group LLC now owns 13,395 shares of the company’s stock valued at $305,000 after purchasing an additional 3,055 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.