Saba Capital Management, L.P. and Boaz Weinstein, both significant stakeholders in the Nuveen Multi-Asset Income Fund (NYSE:NMAI), recently reported the sale of shares valued at a total of $454,647. The transactions, disclosed in a recent SEC filing, took place over two days.
On October 24, 2024, a total of 23,325 shares were sold at $12.75 per share. The following day, an additional 12,324 shares were sold at $12.76 per share. Post-transaction, the combined holdings of the reporting owners amounted to 4,197,551 shares. These transactions reflect the ongoing portfolio adjustments by these major investors in the fund.
InvestingPro Insights
The recent share sales by Saba Capital Management and Boaz Weinstein in the Nuveen Multi-Asset Income Fund (NYSE:NMAI) come at a time when the fund's stock is showing interesting characteristics. According to InvestingPro data, NMAI currently boasts a substantial dividend yield of 13.19%, 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."
Despite the recent sell-off by major stakeholders, NMAI's stock has demonstrated strong performance over the past year, with a 35.75% total return. The fund's current price is 94.15% of its 52-week high, suggesting it has maintained much of its recent gains. Additionally, with a P/E ratio of 8.03, the stock appears to be trading at a relatively low valuation compared to earnings.
Another InvestingPro Tip indicates that the stock "generally trades with low price volatility," which could be attractive to investors seeking stability in their income-generating assets. This characteristic may explain why, despite the recent share sales, the stock price has not experienced significant fluctuations.
For investors interested in a deeper analysis, InvestingPro offers 5 additional tips that could provide further insights into NMAI's investment potential. These additional tips could be particularly valuable for understanding the fund's performance in the context of recent insider transactions.
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