Saba Capital Income & Opportunities Fund (NYSE:BRW) Stock to Pay Monthly Dividend of $0.09

Saba Capital Income & Opportunities Fund (NYSE:BRW) announced a monthly dividend on Thursday, October 1st. Stockholders of record on Friday, October 9th will be paid a dividend of $0.0850 per share on Friday, October 30th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 16.8%. The ex-dividend date is Friday, October 9th.

Saba Capital Income & Opportunities Fund has raised its dividend payment by an average of 45.7%per year over the last three years.

Saba Capital Income & Opportunities Fund Price Performance

Shares of NYSE BRW traded up $0.07 during trading hours on Thursday, reaching $6.08. 443,405 shares of the stock were exchanged, compared to its average volume of 243,307. Saba Capital Income & Opportunities Fund has a 52 week low of $5.99 and a 52 week high of $7.75. The stock’s fifty day simple moving average is $6.44 and its 200 day simple moving average is $6.61.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Robinson Capital Management LLC bought a new stake in shares of Saba Capital Income & Opportunities Fund in the second quarter valued at about $105,000. Integrated Wealth Concepts LLC acquired a new stake in Saba Capital Income & Opportunities Fund in the 2nd quarter worth about $29,000. Baird Financial Group Inc. raised its stake in Saba Capital Income & Opportunities Fund by 4.2% in the 2nd quarter. Baird Financial Group Inc. now owns 191,877 shares of the company’s stock worth $1,261,000 after purchasing an additional 7,764 shares in the last quarter. Patron Partners LLC bought a new stake in Saba Capital Income & Opportunities Fund in the 2nd quarter valued at about $138,000. Finally, Next Capital Management LLC bought a new stake in Saba Capital Income & Opportunities Fund in the 2nd quarter valued at about $584,000.

Saba Capital Income & Opportunities Fund Company Profile

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.