Saba Capital Management, L.P., a significant shareholder in the Nuveen Core Plus Impact Fund (NYSE:NPCT), recently sold a portion of its holdings in the fund. According to a filing with the Securities and Exchange Commission, Saba Capital sold 8,598 shares at a price of $11.39 each, amounting to a total transaction value of $97,931. Following this transaction, Saba Capital holds 3,389,589 shares indirectly. The sale was executed on November 12, 2024, and the filing was submitted on November 14, 2024.
InvestingPro Insights
The recent sale by Saba Capital Management of a portion of its holdings in the Nuveen Core Plus Impact Fund (NYSE:NPCT) comes at a time when the fund's stock is showing strong performance. According to InvestingPro data, NPCT has delivered impressive returns, with a 31.34% price total return over the past year and a 22.51% return year-to-date. This positive momentum is further reflected in the stock's current price, which stands at 93.73% of its 52-week high.
Despite the partial divestment by Saba Capital, NPCT continues to offer an attractive proposition for income-focused investors. An InvestingPro Tip highlights that the fund "pays a significant dividend to shareholders," with a projected dividend yield of 12.73% for the upcoming year. This high yield could be particularly appealing in the current market environment.
Another InvestingPro Tip notes that the stock "generally trades with low price volatility," which may be attractive to risk-averse investors seeking stable income streams. This characteristic aligns well with the fund's focus on core plus fixed income strategies with an impact investing approach.
For investors considering NPCT, it's worth noting that InvestingPro offers 11 additional tips that could provide further insights into the fund's investment potential. These tips, available through the InvestingPro product, could help investors make more informed decisions about this high-yielding, low-volatility investment option in the current market landscape.
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