Saba Capital Management, L.P., a significant shareholder of Nuveen Multi-Asset Income Fund (NYSE:NMAI), reported the sale of shares totaling approximately $770,885, according to a recent SEC filing. The transactions occurred over three days, from October 10 to October 14, with shares sold at prices ranging from $12.90 to $12.95. Following these sales, Saba Capital Management's remaining holdings in the fund amount to 4,242,949 shares.
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 metrics intriguing. According to InvestingPro data, NMAI boasts a remarkable dividend yield of 12.89%, with the most recent ex-dividend date on September 13, 2024. This aligns with one of the InvestingPro Tips, which notes that NMAI "pays a significant dividend to shareholders."
The fund's market capitalization stands at $433.2 million, with a price-to-earnings ratio of 8.03, suggesting a potentially attractive valuation for income-focused investors. Moreover, NMAI has demonstrated solid performance over the past year, with a 34.91% total return, and is currently trading at 96% of its 52-week high.
Another InvestingPro Tip highlights 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 deeper analysis, InvestingPro offers additional tips and insights that could further inform investment decisions regarding NMAI.
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