Saba Capital Management, L.P., led by Boaz Weinstein, reported a recent sale of shares in the Nuveen Multi-Asset Income Fund (NYSE:NMAI). On November 12, the firm sold 1,212 shares at a price of $12.72 each, amounting to a total value of $15,416. Following the transaction, Saba Capital holds 4,159,076 shares of the fund. The sale was disclosed in a filing with the Securities and Exchange Commission, highlighting Saba Capital's ongoing adjustments to its investment portfolio.
InvestingPro Insights
While Saba Capital Management has reduced its position in the Nuveen Multi-Asset Income Fund (NYSE:NMAI), individual investors might find some attractive features in this investment. According to InvestingPro data, NMAI currently offers a substantial dividend yield of 13.4%, 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 $416.48 million, and it trades at a P/E ratio of 8.03, which may be considered relatively low. This valuation metric could be of interest to value-oriented investors. Additionally, NMAI has shown positive price performance over various timeframes, with a notable 24.04% total return over the past year.
Another InvestingPro Tip suggests that the stock "generally trades with low price volatility," which could appeal to investors seeking stability in their portfolio. This characteristic might explain why large institutional investors like Saba Capital maintain significant positions even after small reductions.
For those interested in a more comprehensive analysis, InvestingPro offers additional tips and insights that could provide a fuller picture of NMAI's investment potential.
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