Rivernorth Capital Management LLC Decreases Holdings in Saba Closed-End Funds ETF (BATS:CEFS)

Rivernorth Capital Management LLC trimmed its holdings in shares of Saba Closed-End Funds ETF (BATS:CEFS) by 79.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 55,200 shares of the company’s stock after selling 208,210 shares during the quarter. Rivernorth Capital Management LLC’s holdings in Saba Closed-End Funds ETF were worth $1,228,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Farther Finance Advisors LLC purchased a new stake in Saba Closed-End Funds ETF in the 3rd quarter worth about $36,000. Future Financial Wealth Managment LLC purchased a new stake in Saba Closed-End Funds ETF in the 3rd quarter worth about $44,000. Anfield Capital Management LLC purchased a new stake in Saba Closed-End Funds ETF in the 2nd quarter worth about $64,000. NBC Securities Inc. raised its position in Saba Closed-End Funds ETF by 62.4% in the 3rd quarter. NBC Securities Inc. now owns 3,827 shares of the company’s stock worth $85,000 after purchasing an additional 1,470 shares during the period. Finally, Calton & Associates Inc. purchased a new stake in Saba Closed-End Funds ETF in the 3rd quarter worth about $201,000.

Saba Closed-End Funds ETF Price Performance

Saba Closed-End Funds ETF stock opened at $22.45 on Thursday. Saba Closed-End Funds ETF has a 1-year low of $19.83 and a 1-year high of $22.14. The firm has a market capitalization of $207.66 million, a P/E ratio of 18.35 and a beta of 0.72. The company’s 50-day moving average is $22.16 and its 200 day moving average is $21.62.

Saba Closed-End Funds ETF Announces Dividend

The business also recently announced a dividend, which was paid on Tuesday, November 26th. Stockholders of record on Monday, November 25th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Monday, November 25th.

About Saba Closed-End Funds ETF

The Saba Closed-End Funds ETF (CEFS) is an exchange-traded fund that mostly invests in target outcome asset allocation. The fund is an actively managed fund-of-funds that seeks to generate high income by investing in closed-end funds trading at a discount to net asset value and hedging for duration risk.