Saba Closed-End Funds ETF (BATS:CEFS) Stock Price Up 1.8% – Should You Buy?

Saba Closed-End Funds ETF (BATS:CEFS)’s share price shot up 1.8% on Tuesday. The company traded as high as $24.29 and last traded at $24.28. Approximately 98,955 shares traded hands during trading, an increase of 11% from the average session volume of 89,340 shares. The stock had previously closed at $23.86.

Saba Closed-End Funds ETF Price Performance

The stock has a market capitalization of $324.12 million, a P/E ratio of 21.88 and a beta of 0.72. The stock’s fifty day moving average is $24.75 and its 200-day moving average is $24.35.

Saba Closed-End Funds ETF Increases Dividend

The business also recently declared a monthly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Monday, September 28th were given a $0.2460 dividend. This is an increase from Saba Closed-End Funds ETF’s previous monthly dividend of $0.14. This represents a $2.95 dividend on an annualized basis and a dividend yield of 12.1%. The ex-dividend date of this dividend was Monday, September 28th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CEFS. Partners Wealth Management LLC bought a new stake in shares of Saba Closed-End Funds ETF in the third quarter valued at approximately $4,916,000. Integrated Advisors Network LLC acquired a new stake in shares of Saba Closed-End Funds ETF in the third quarter worth $483,000. New England Private Wealth Advisors LLC increased its position in Saba Closed-End Funds ETF by 0.6% during the third quarter. New England Private Wealth Advisors LLC now owns 413,233 shares of the company’s stock worth $10,131,000 after acquiring an additional 2,356 shares during the period. NFSG Corp increased its position in Saba Closed-End Funds ETF by 8.6% during the third quarter. NFSG Corp now owns 51,805 shares of the company’s stock worth $1,270,000 after acquiring an additional 4,124 shares during the period. Finally, AdvisorNet Financial Inc raised its stake in Saba Closed-End Funds ETF by 4.8% during the 3rd quarter. AdvisorNet Financial Inc now owns 338,747 shares of the company’s stock valued at $8,130,000 after purchasing an additional 15,539 shares during the last quarter.

About Saba Closed-End Funds ETF

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.