NEW YORK—Saba Capital Management, L.P., a significant shareholder in the Nuveen Multi-Asset Income Fund (NYSE:NMAI), disclosed recent sales of the fund's common stock, according to a recent SEC filing. The transactions, carried out on November 8 and November 11, involved a total of 10,184 shares sold at prices ranging from $12.77 to $12.78 per share. These sales amounted to a total value of approximately $130,148.
Following these transactions, Saba Capital Management holds 4,160,288 shares of the Nuveen Multi-Asset Income Fund. The filing also included Boaz Weinstein, who is associated with Saba Capital, as a reporting owner. The sales reflect ongoing adjustments in the fund's holdings by the investment management firm.
InvestingPro Insights
The recent stock sales by Saba Capital Management in the Nuveen Multi-Asset Income Fund (NYSE:NMAI) come at a time when the fund's shares are trading near their 52-week high, with the current price at 93.93% of the peak. This could suggest that Saba Capital is capitalizing on the fund's strong performance, as evidenced by NMAI's impressive 28.09% total return over the past year.
Despite the recent sales, NMAI continues to offer an attractive dividend yield of 13.14%, with the most recent ex-dividend date on September 13, 2024. This high yield aligns with one of the InvestingPro Tips, which notes that NMAI "pays a significant dividend to shareholders." This feature may be particularly appealing to income-focused investors in the current market environment.
Another InvestingPro Tip highlights that the stock "generally trades with low price volatility," which could explain why Saba Capital's recent sales had minimal impact on the share price. The fund's stability is further reflected in its moderate price-to-earnings ratio of 8.03, suggesting a potentially reasonable valuation relative to its earnings.
For investors seeking a more comprehensive analysis, InvestingPro offers additional tips and insights that could provide valuable context for NMAI's performance and prospects. Currently, there are 4 more InvestingPro Tips available for NMAI, which could offer deeper insights into the fund's financial health and market position.
NEW YORK—Saba Capital Management, L.P., a significant shareholder in the Nuveen Multi-Asset Income Fund (NYSE:NMAI), disclosed recent sales of the fund's common stock, according to a recent SEC filing. The transactions, carried out on November 8 and November 11, involved a total of 10,184 shares sold at prices ranging from $12.77 to $12.78 per share. These sales amounted to a total value of approximately $130,148.
Following these transactions, Saba Capital Management holds 4,160,288 shares of the Nuveen Multi-Asset Income Fund. The filing also included Boaz Weinstein, who is associated with Saba Capital, as a reporting owner. The sales reflect ongoing adjustments in the fund's holdings by the investment management firm.
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