Saba Closed-End Funds ETF (BATS:CEFS) Stock Price Down 0.4% – Here’s Why

Shares of Saba Closed-End Funds ETF (BATS:CEFS) were down 0.4% during trading on Monday . The stock traded as low as $25.14 and last traded at $25.23. 135,239 shares were traded during mid-day trading, an increase of 50% from the average daily volume of 90,356 shares. The stock had previously closed at $25.34.

Saba Closed-End Funds ETF Stock Down 0.4%

The stock’s 50 day moving average price is $25.34 and its two-hundred day moving average price is $24.38. The stock has a market cap of $335.56 million, a price-to-earnings ratio of 21.88 and a beta of 0.72.

Institutional Investors Weigh In On Saba Closed-End Funds ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CEFS. SHP Wealth Management purchased a new position in shares of Saba Closed-End Funds ETF during the 4th quarter valued at about $43,000. NBC Securities Inc. lifted its holdings in shares of Saba Closed-End Funds ETF by 14.6% in the 4th quarter. NBC Securities Inc. now owns 6,440 shares of the company’s stock valued at $148,000 after buying an additional 821 shares during the period. Anfield Capital Management LLC boosted its stake in shares of Saba Closed-End Funds ETF by 32.1% in the fourth quarter. Anfield Capital Management LLC now owns 7,429 shares of the company’s stock worth $171,000 after buying an additional 1,806 shares during the last quarter. Encompass More Asset Management purchased a new stake in shares of Saba Closed-End Funds ETF in the fourth quarter worth about $216,000. Finally, First Heartland Consultants Inc. grew its holdings in Saba Closed-End Funds ETF by 10.5% during the second quarter. First Heartland Consultants Inc. now owns 10,416 shares of the company’s stock worth $267,000 after acquiring an additional 987 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.