Saba Closed-End Funds ETF (BATS:CEFS) Stock Jumps 1.8% – Here’s Why

Saba Closed-End Funds ETF (BATS:CEFS)’s share price rose 1.8% during trading on Tuesday. The stock traded as high as $24.29 and last traded at $24.28. 98,955 shares changed hands during trading, an increase of 11% from the average daily volume of 89,340 shares. The stock had previously closed at $23.86.

Saba Closed-End Funds ETF Stock Performance

The firm has a market cap of $322.92 million, a price-to-earnings ratio of 21.88 and a beta of 0.72. The stock’s fifty day moving average is $24.78 and its two-hundred day moving average is $24.34.

Saba Closed-End Funds ETF Increases Dividend

The company also recently announced a monthly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Monday, September 28th were given a $0.2460 dividend. This is a positive change from Saba Closed-End Funds ETF’s previous monthly dividend of $0.14. The ex-dividend date was Monday, September 28th. This represents a $2.95 annualized dividend and a yield of 12.2%.

Institutional Investors Weigh In On Saba Closed-End Funds ETF

Several large investors have recently made changes to their positions in the company. Integrated Wealth Concepts LLC bought a new position in Saba Closed-End Funds ETF in the 2nd quarter worth approximately $221,000. First Heartland Consultants Inc. increased its position in Saba Closed-End Funds ETF by 10.5% in the 2nd quarter. First Heartland Consultants Inc. now owns 10,416 shares of the company’s stock valued at $267,000 after acquiring an additional 987 shares during the period. Private Advisor Group LLC raised its stake in Saba Closed-End Funds ETF by 6.0% during the 1st quarter. Private Advisor Group LLC now owns 16,454 shares of the company’s stock valued at $371,000 after acquiring an additional 933 shares in the last quarter. Unified Investment Management raised its stake in Saba Closed-End Funds ETF by 2.5% during the 1st quarter. Unified Investment Management now owns 21,081 shares of the company’s stock valued at $475,000 after acquiring an additional 509 shares in the last quarter. Finally, Integrated Advisors Network LLC bought a new stake in Saba Closed-End Funds ETF during the 3rd quarter valued at $483,000.

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.