Saba Capital Income & Opportunities Fund (NYSEARCA:BRW) Trading Down 0.9%

Saba Capital Income & Opportunities Fund (NYSEARCA:BRW – Get Rating) shares traded down 0.9% on Thursday . The company traded as low as $7.83 and last traded at $7.83. 88,483 shares were traded during mid-day trading, a decline of 30% from the average session volume of 126,698 shares. The stock had previously closed at $7.90.

The stock’s fifty day moving average is $8.31 and its two-hundred day moving average is $8.73.

The company also recently disclosed a monthly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Wednesday, June 8th will be given a $0.092 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 14.10%. This is an increase from Saba Capital Income & Opportunities Fund’s previous monthly dividend of $0.05. The ex-dividend date is Tuesday, June 7th.

In other Saba Capital Income & Opportunities Fund news, major shareholder Saba Capital Management, L.P. sold 13,511 shares of the company’s stock in a transaction dated Thursday, May 26th. The shares were sold at an average price of $8.23, for a total value of $111,195.53. Following the completion of the sale, the insider now directly owns 4,622,460 shares of the company’s stock, valued at approximately $38,042,845.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 345,059 shares of company stock valued at $1,660,150 over the last ninety days.

Several institutional investors have recently added to or reduced their stakes in BRW. B. Riley Wealth Management Inc. boosted its holdings in Saba Capital Income & Opportunities Fund by 6.1% in the 1st quarter. B. Riley Wealth Management Inc. now owns 43,750 shares of the company’s stock worth $198,000 after buying an additional 2,500 shares during the period. Integrated Capital Management Inc. boosted its holdings in Saba Capital Income & Opportunities Fund by 6.5% in the 4th quarter. Integrated Capital Management Inc. now owns 43,007 shares of the company’s stock worth $194,000 after buying an additional 2,636 shares during the period. Scotia Capital Inc. boosted its holdings in Saba Capital Income & Opportunities Fund by 4.0% in the 1st quarter. Scotia Capital Inc. now owns 96,238 shares of the company’s stock worth $435,000 after buying an additional 3,734 shares during the period. Bank of America Corp DE boosted its holdings in Saba Capital Income & Opportunities Fund by 0.8% in the 4th quarter. Bank of America Corp DE now owns 632,535 shares of the company’s stock worth $2,859,000 after buying an additional 5,105 shares during the period. Finally, Latitude Advisors LLC boosted its holdings in Saba Capital Income & Opportunities Fund by 55.0% in the 1st quarter. Latitude Advisors LLC now owns 18,238 shares of the company’s stock worth $82,000 after buying an additional 6,468 shares during the period.

About Saba Capital Income & Opportunities Fund (NYSEARCA:BRW)

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.

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