In a recent transaction, Saba Capital Management, L.P., a significant stakeholder in the Nuveen Multi-Asset Income Fund (NYSE:NMAI), sold 17,279 shares of the fund. The shares were sold at a price of $12.64 each, totaling $218,406. This sale leaves Saba Capital with 4,180,272 shares in the fund. The transaction was reported by Boaz Weinstein, a ten percent owner, and occurred on November 1, 2024.
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 metrics intriguing. According to InvestingPro data, NMAI boasts a substantial dividend yield of 13.26%, 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 market capitalization stands at $420.83 million, with a price-to-earnings ratio of 8.03, suggesting a potentially attractive valuation for income-focused investors. NMAI has demonstrated resilience in its price performance, with a one-year total return of 28.02% and a year-to-date return of 12.93%.
Another InvestingPro Tip indicates that the stock "generally trades with low price volatility," which could appeal to investors seeking stability alongside income. This characteristic is reflected in the fund's relatively modest price movements, with a one-week return of -0.4% and a one-month return of -2.85%.
For investors considering NMAI, it's worth noting that InvestingPro offers additional insights, with 5 more tips available for subscribers looking to deepen their analysis of this income-generating fund.
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