Saba Closed-End Funds ETF (BATS:CEFS) Shares Up 5% – Time to Buy?

Shares of Saba Closed-End Funds ETF (BATS:CEFS) shot up 5% on Thursday . The stock traded as high as $22.40 and last traded at $23.10. 88,133 shares were traded during mid-day trading, an increase of 21% from the average session volume of 72,660 shares. The stock had previously closed at $22.00.

Saba Closed-End Funds ETF Price Performance

The stock’s 50 day simple moving average is $22.83 and its two-hundred day simple moving average is $22.68. The stock has a market capitalization of $308.97 million, a PE ratio of 21.88 and a beta of 0.72.

Saba Closed-End Funds ETF Increases Dividend

The firm also recently announced a monthly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 30th were given a dividend of $0.266 per share. This is a boost from Saba Closed-End Funds ETF’s previous monthly dividend of $0.14. This represents a c) dividend on an annualized basis and a yield of 13.7%. The ex-dividend date was Tuesday, December 30th.

Institutional Investors Weigh In On Saba Closed-End Funds ETF

Hedge funds and other institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC raised its holdings in shares of Saba Closed-End Funds ETF by 20.3% during the 2nd quarter. Farther Finance Advisors LLC now owns 2,792 shares of the company’s stock valued at $62,000 after buying an additional 471 shares in the last quarter. Amplius Wealth Advisors LLC boosted its stake in shares of Saba Closed-End Funds ETF by 1.9% in the 4th quarter. Amplius Wealth Advisors LLC now owns 27,551 shares of the company’s stock valued at $635,000 after purchasing an additional 502 shares in the last quarter. Rovin Capital UT ADV boosted its stake in shares of Saba Closed-End Funds ETF by 0.9% in the 3rd quarter. Rovin Capital UT ADV now owns 60,426 shares of the company’s stock valued at $1,376,000 after purchasing an additional 514 shares in the last quarter. Cary Street Partners Financial LLC grew its holdings in shares of Saba Closed-End Funds ETF by 3.4% during the 3rd quarter. Cary Street Partners Financial LLC now owns 28,884 shares of the company’s stock valued at $658,000 after purchasing an additional 938 shares during the last quarter. Finally, Fortress Wealth Management Inc. raised its position in Saba Closed-End Funds ETF by 0.4% in the 3rd quarter. Fortress Wealth Management Inc. now owns 352,729 shares of the company’s stock worth $8,032,000 after purchasing an additional 1,434 shares during the period.

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.