In a recent transaction, Saba Capital Management, L.P., a significant stakeholder in Nuveen Multi-Asset Income Fund (NYSE:NMAI), sold 9,800 shares of the fund's common stock. The shares were sold at a price of $12.59 each, totaling $123,382. Following this sale, Saba Capital retains ownership of 4,170,472 shares in the fund. The transaction was reported by Boaz Weinstein, a ten percent owner, and took place on November 4, 2024.
InvestingPro Insights
While Saba Capital Management has reduced its position in Nuveen Multi-Asset Income Fund (NYSE:NMAI), individual investors might find the fund's current valuation and dividend yield intriguing. According to InvestingPro data, NMAI boasts a substantial dividend yield of 13.37%, with the most recent ex-dividend date on September 13, 2024. This aligns with one of the InvestingPro Tips, which notes that the fund "pays a significant dividend to shareholders."
The fund's current market capitalization stands at $417.49 million, with a price-to-earnings ratio of 8.03, suggesting a potentially attractive valuation for income-focused investors. NMAI's stock has shown resilience over the past year, with a 27% total return, outperforming its shorter-term performance metrics.
Another InvestingPro Tip indicates that the stock "generally trades with low price volatility," which could appeal to investors seeking stability in their income-generating assets. This characteristic, combined with the high dividend yield, may explain why the fund remains an attractive holding for large stakeholders despite recent sales.
For investors considering NMAI, it's worth noting that InvestingPro offers additional tips and insights that could provide a more comprehensive view of the fund's potential. There are 5 more tips available on the InvestingPro platform, which could help investors make more informed decisions about this high-yielding asset.
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