Saba Capital Management, L.P., a significant stakeholder in the Nuveen Multi-Asset Income Fund (NYSE:NMAI), reported the sale of 9,749 shares, according to a recent SEC filing. The shares were sold at a price of $12.75 each, amounting to a total transaction value of $124,299. Following this sale, Saba Capital Management continues to hold 4,233,200 shares in the fund. The transaction highlights ongoing portfolio adjustments by major investors in the fund.
InvestingPro Insights
While Saba Capital Management has reduced its position in the 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 remarkable dividend yield of 13.13%, with its most recent ex-dividend date on September 13, 2024. This high yield aligns with an InvestingPro Tip indicating that the fund "pays a significant dividend to shareholders."
The fund's current price-to-earnings ratio stands at 8.03, suggesting a potentially attractive valuation for income-focused investors. Additionally, NMAI has demonstrated strong performance over the past year, with a one-year price total return of 35.12%, outpacing its year-to-date return of 14.1%.
However, investors should note that the fund's stock price is currently at 94.59% of its 52-week high, which may indicate limited upside potential in the near term. Another InvestingPro Tip suggests that the stock "generally trades with low price volatility," which could appeal to risk-averse investors seeking stable income streams.
For those interested in a more comprehensive analysis, InvestingPro offers additional tips and insights that could further inform investment decisions regarding NMAI.
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