Saba Closed-End Funds ETF (BATS:CEFS) Trading Up 0.2% – Here’s What Happened

Saba Closed-End Funds ETF (BATS:CEFS)’s share price traded up 0.2% on Friday . The stock traded as high as $23.64 and last traded at $23.47. 77,866 shares traded hands during mid-day trading, a decline of 16% from the average session volume of 92,440 shares. The stock had previously closed at $23.42.

Saba Closed-End Funds ETF Stock Up 0.2%

The company has a market cap of $312.15 million, a PE ratio of 21.88 and a beta of 0.72. The business has a 50-day simple moving average of $23.12 and a 200-day simple moving average of $22.81.

Saba Closed-End Funds ETF Cuts Dividend

The business also recently disclosed a monthly dividend, which was paid on Friday, January 30th. Shareholders of record on Wednesday, January 28th were given a dividend of $0.14 per share. The ex-dividend date was Wednesday, January 28th. This represents a c) dividend on an annualized basis and a yield of 7.2%.

Institutional Trading of Saba Closed-End Funds ETF

Institutional investors and hedge funds have recently modified their holdings of the stock. Allworth Financial LP acquired a new position in Saba Closed-End Funds ETF during the second quarter worth about $62,000. XML Financial LLC raised its holdings in Saba Closed-End Funds ETF by 19.8% in the 3rd quarter. XML Financial LLC now owns 149,881 shares of the company’s stock valued at $3,413,000 after acquiring an additional 24,779 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in Saba Closed-End Funds ETF by 11.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 239,566 shares of the company’s stock worth $5,328,000 after purchasing an additional 24,049 shares in the last quarter. Tactive Advisors LLC purchased a new position in Saba Closed-End Funds ETF in the 2nd quarter worth approximately $781,000. Finally, Amplius Wealth Advisors LLC boosted its holdings in shares of Saba Closed-End Funds ETF by 2.0% during the 2nd quarter. Amplius Wealth Advisors LLC now owns 26,714 shares of the company’s stock worth $594,000 after purchasing an additional 512 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.