Saba Capital Management, L.P., a New York-based firm specializing in value investing, has recently added 244,530 shares of Nuveen Multi-Asset Income Fund (NMAI) to its portfolio. This transaction represents a 6.24% increase in the firm’s holdings in NMAI, bringing its total shares to 4,162,467. The acquisition was made at a price of $11.31 per share and has a 0.07% impact on the firm’s portfolio. Saba Capital Management now holds a 1.23% position in its overall portfolio and a 12.45% stake in NMAI.
Saba Capital Management’s portfolio consists of 624 stocks with a total equity of $3.84 billion, and it primarily invests in the Financial Services and Technology sectors. Some of its top holdings include Templeton Global Income Fund, BlackRock Capital Allocation Trust, BlackRock Health Sciences Trust II, BlackRock Innovation & Growth Tr, and BlackRock ESG Capital Allocation Trust.
Nuveen Multi-Asset Income Fund is a closed-end management investment company in the Asset Management industry. It focuses on total return, which includes income or distributions and capital appreciation. As of September 26, 2023, the company has a market capitalization of $376.707 million, and its current stock price is $11.27.
Financial indicators for NMAI reveal a loss with a PE Percentage of 0.00. Its GF Score is 16/100, indicating poor future performance potential. The company’s Balance Sheet Rank is 3/10, Profitability Rank is 1/10, and Growth Rank is 0/10, suggesting a weak financial position and low growth potential.
Since its IPO, NMAI’s stock price has decreased by 28.35%, and the year-to-date price change ratio is -2.84%. Multiple momentum indicators, including RSI 5 Day, RSI 9 Day, and RSI 14 Day, indicate a downward trend. Additionally, the stock’s Momentum Index 6 – 1 Month is 4.33, and its Momentum Index 12 – 1 Month is -1.20, indicating negative momentum in the short term.
Given NMAI’s weak financial indicators and negative stock performance, the implications of Saba Capital Management’s increased stake in the company remain uncertain. Investors are advised to conduct thorough research before making any investment decisions.
Sources: GuruFocus
Definitions:
- Value investing: An investment strategy that involves purchasing stocks that appear to be undervalued by the market and holding them for the long term.
- Portfolio: The collection of investments held by an individual or entity, such as a firm, consisting of various stocks, bonds, and other assets.
- Equity: The value of an asset after deducting any liabilities or debts associated with it.
- Financial Services: The industry that provides various financial products and services to individuals, businesses, and organizations, such as banking, insurance, investment management, and financial planning.
- Technology: The sector that encompasses companies involved in the development and production of technological products, services, and solutions.
- Closed-end management investment company: A type of investment company that has a fixed number of shares which trade on a stock exchange. It is managed by an investment advisory firm and invests in a diversified portfolio of securities.
- Market capitalization: The total value of a company’s outstanding shares of stock, calculated by multiplying the share price by the number of shares.
- Financial indicators: Measures or metrics used to assess the financial health and performance of a company.
- PE Percentage: The price-to-earnings ratio, which compares a company’s stock price to its earnings per share, indicating how expensive or cheap the stock is relative to its earnings.
- GF Score: A proprietary scoring system developed by GuruFocus to measure the quality of a company’s financials and predict its future stock performance.
- Momentum indicators: Technical indicators used to gauge the strength and direction of a stock’s price movement.
This article first appeared on GuruFocus.
Sources:
– GuruFocus