Saba Capital Income & Opportunities Fund (NYSEARCA:BRW) Announces Monthly Dividend of $0.05

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Saba Capital Income and Opportunities Fund (NYSEARCA:BRW – Get Rating) announced a monthly dividend on Wednesday, May 4, reports The Wall Street Journal. Investors of record on Tuesday May 24 will receive a dividend of 0.047 per share on Tuesday May 31. This represents a dividend of $0.56 on an annualized basis and a yield of 13.12%. The ex-dividend date is Monday, May 23.

BRW stock opened Thursday at $4.30. Saba Capital Income & Opportunities Fund has a 52 week low of $4.23 and a 52 week high of $4.81. The company has a 50-day simple moving average of $4.38 and a two-hundred-day simple moving average of $4.49.

Shares of the Saba Capital Income & Opportunities Fund are expected to consolidate on the morning of Friday, May 20. The 1-2 reverse split was announced on Friday, May 20. The number of shares held by shareholders will be adjusted after market close on Friday, May 20.

In other Saba Capital Income & Opportunities Fund news, lead shareholder Saba Capital Management, LP sold 30,455 shares of Saba Capital Income & Opportunities Fund in a trade dated Thursday, March 3. The stock was sold at an average price of $4.51, for a total transaction of $137,352.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Insiders sold a total of 35,890 shares of the company valued at $160,669 during the last quarter.

A number of hedge funds have recently increased or reduced their stakes in the company. Morgan Stanley increased its stake in shares of Saba Capital Income & Opportunities Fund by 5.3% in the third quarter. Morgan Stanley now owns 1,751,227 shares of the company worth $7,968,000 after buying an additional 88,102 shares in the last quarter. Wells Fargo & Company MN bought a new stock position in Saba Capital Income & Opportunities Fund in Q2 for a value of approximately $975,000. Royal Bank of Canada increased its stake in shares of Saba Capital Income & Opportunities Fund by 15.3% in Q3. Royal Bank of Canada now owns 67,777 shares of the company worth $308,000 after buying 8,972 more shares in the last quarter. Guggenheim Capital LLC increased its shareholding in Saba Capital Income & Opportunities Fund by 20.2% in the 4th quarter. Guggenheim Capital LLC now owns 67,783 shares of the company worth $306,000 after purchasing an additional 11,391 shares in the last quarter. Finally, NewEdge Advisors LLC bought a new stock position in Saba Capital Income & Opportunities Fund in Q4 for a value of approximately $120,000.

Company Profile Saba Capital Income & Opportunities Fund (Get a rating)

Saba Capital Income & Opportunities Fund is a closed-end, fixed-income mutual fund launched by Voya Investment Management LLC. The fund is managed by Saba Capital Management, LP It invests in US bond markets. The fund seeks to invest in securities of companies operating in diversified sectors.

Further reading

Dividend history for Saba Capital Income & Opportunities Fund (NYSEARCA:BRW)



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