Saba Closed-End Funds ETF (BATS:CEFS) Stock Jumps 0.1% – Still a Buy?

Shares of Saba Closed-End Funds ETF (BATS:CEFS) rose 0.1% during mid-day trading on Tuesday. The company traded as high as $24.98 and last traded at $24.78. 56,173 shares traded hands during trading, a decline of 37% from the average daily volume of 88,986 shares. The stock had previously closed at $24.75.

Saba Closed-End Funds ETF Stock Down 1.3%

The firm has a 50-day moving average price of $25.09 and a two-hundred day moving average price of $24.80. The firm has a market cap of $324.04 million, a PE ratio of 21.88 and a beta of 0.72.

Saba Closed-End Funds ETF Increases Dividend

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

Institutional Trading of Saba Closed-End Funds ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. New England Private Wealth Advisors LLC increased its stake in Saba Closed-End Funds ETF by 6.8% in the 4th quarter. New England Private Wealth Advisors LLC now owns 382,742 shares of the company’s stock valued at $8,818,000 after buying an additional 24,412 shares during the period. Royal Bank of Canada increased its stake in Saba Closed-End Funds ETF by 2.6% in the 1st quarter. Royal Bank of Canada now owns 298,116 shares of the company’s stock valued at $6,723,000 after purchasing an additional 7,566 shares in the last quarter. AdvisorNet Financial Inc boosted its position in Saba Closed-End Funds ETF by 2.1% during the first quarter. AdvisorNet Financial Inc now owns 281,423 shares of the company’s stock worth $6,346,000 after purchasing an additional 5,696 shares in the last quarter. Arete Wealth Advisors LLC increased its holdings in Saba Closed-End Funds ETF by 14.0% during the 1st quarter. Arete Wealth Advisors LLC now owns 279,934 shares of the company’s stock valued at $6,285,000 after acquiring an additional 34,370 shares in the last quarter. Finally, XML Financial LLC increased its stake in shares of Saba Closed-End Funds ETF by 16.6% during the 2nd quarter. XML Financial LLC now owns 270,311 shares of the company’s stock worth $6,931,000 after purchasing an additional 38,531 shares in the last quarter.

Saba Closed-End Funds ETF Company Profile

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.