Saba Capital Income & Opportunities Fund (NYSEARCA:BRW) Shares Up 0.6% – Should You Buy?

Shares of Saba Capital Income & Opportunities Fund (NYSEARCA:BRW) traded up 0.6% on Monday . The company traded as high as $6.58 and last traded at $6.56. Approximately 326,562 shares traded hands during trading, an increase of 34% from the average daily volume of 243,882 shares. The stock had previously closed at $6.52.

Saba Capital Income & Opportunities Fund Stock Up 0.6%

The company’s fifty day moving average is $6.60 and its two-hundred day moving average is $6.64.

Saba Capital Income & Opportunities Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Tuesday, August 11th will be issued a $0.085 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 15.5%. The ex-dividend date is Tuesday, August 11th.

Hedge Funds Weigh In On Saba Capital Income & Opportunities Fund

A number of institutional investors and hedge funds have recently modified their holdings of BRW. Cetera Investment Advisers increased its holdings in Saba Capital Income & Opportunities Fund by 7.3% in the second quarter. Cetera Investment Advisers now owns 63,974 shares of the company’s stock valued at $516,000 after buying an additional 4,332 shares during the last quarter. Baird Financial Group Inc. lifted its holdings 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 worth $1,193,000 after buying an additional 1,655 shares during the last quarter. Cerity Partners LLC boosted its position in shares of Saba Capital Income & Opportunities Fund by 3.3% during 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 in the last quarter. NewEdge Advisors LLC boosted its position in shares of Saba Capital Income & Opportunities Fund by 16.7% during the 2nd quarter. NewEdge Advisors LLC now owns 282,185 shares of the company’s stock worth $2,274,000 after acquiring an additional 40,431 shares in the last quarter. Finally, Raymond James Financial Inc. increased its holdings in shares of Saba Capital Income & Opportunities Fund by 16.3% in the 2nd quarter. Raymond James Financial Inc. now owns 98,579 shares of the company’s stock valued at $795,000 after acquiring an additional 13,829 shares during the last quarter.

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.