In a recent transaction, Saba Capital Management, L.P., a significant stakeholder in the abrdn Global Infrastructure Income Fund (NYSE:ASGI), sold 8,522 shares of common stock. The shares were sold at an average price of $19.65 per share, totaling approximately $167,457. Following this transaction, Saba Capital Management retains ownership of 2,816,909 shares in the fund. The sale was reported by Boaz Weinstein, who is associated with Saba Capital Management as a ten percent owner.
InvestingPro Insights
While Saba Capital Management reduced its position in the abrdn Global Infrastructure Income Fund (NYSE:ASGI), individual investors might find the fund's current financial metrics and market performance intriguing. According to InvestingPro data, ASGI boasts a substantial dividend yield of 12.82% for the upcoming year, with its most recent ex-dividend date on November 21, 2024. This aligns with one of the InvestingPro Tips, which notes that ASGI "pays a significant dividend to shareholders."
The fund's market capitalization stands at $568.75 million, and it trades at a P/E ratio of 14.58, suggesting a relatively modest valuation compared to some growth-oriented investments. ASGI has demonstrated strong performance over the past year, with a 29.63% total return, and is currently trading near its 52-week high, as indicated by another InvestingPro Tip.
However, potential investors should be aware that ASGI "suffers from weak gross profit margins" according to InvestingPro Tips. This factor, along with the tip that its "valuation implies a poor free cash flow yield," may explain why large shareholders like Saba Capital Management are adjusting their positions.
For those interested in a deeper analysis, InvestingPro offers additional tips and metrics that could provide valuable insights into ASGI's investment potential. The platform lists several more tips that could help investors make more informed decisions about this infrastructure income fund.
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