Saba Capital Income & Opportunities Fund (NYSEARCA:BRW) Stock Price Down 0.6% – Should You Sell?

Saba Capital Income & Opportunities Fund (NYSEARCA:BRW) was down 0.6% during trading on Tuesday . The stock traded as low as $7.87 and last traded at $7.88. Approximately 149,540 shares traded hands during mid-day trading, a decline of 40% from the average daily volume of 249,496 shares. The stock had previously closed at $7.93.

Saba Capital Income & Opportunities Fund Stock Performance

The firm’s 50 day moving average price is $7.78 and its two-hundred day moving average price is $7.61.

Saba Capital Income & Opportunities Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, February 28th. Investors of record on Tuesday, February 11th will be given a dividend of $0.085 per share. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $1.02 annualized dividend and a yield of 12.94%.

Institutional Investors Weigh In On Saba Capital Income & Opportunities Fund

Several hedge funds have recently bought and sold shares of BRW. J.W. Cole Advisors Inc. lifted its position in shares of Saba Capital Income & Opportunities Fund by 61.0% in the fourth quarter. J.W. Cole Advisors Inc. now owns 150,479 shares of the company’s stock valued at $1,147,000 after buying an additional 57,039 shares during the last quarter. Absolute Investment Advisers LLC acquired a new stake in Saba Capital Income & Opportunities Fund during the 4th quarter valued at $5,354,000. Chicago Partners Investment Group LLC boosted its position in Saba Capital Income & Opportunities Fund by 3.2% during the fourth quarter. Chicago Partners Investment Group LLC now owns 156,451 shares of the company’s stock worth $1,225,000 after purchasing an additional 4,894 shares during the period. SeaCrest Wealth Management LLC increased its holdings in shares of Saba Capital Income & Opportunities Fund by 11.9% in the fourth quarter. SeaCrest Wealth Management LLC now owns 54,265 shares of the company’s stock valued at $413,000 after purchasing an additional 5,763 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Saba Capital Income & Opportunities Fund in the third quarter valued at $215,000.

About Saba Capital Income & Opportunities Fund

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.