Saba Capital Management, L.P., a major stakeholder in the Nuveen Core Plus Impact Fund (NYSE:NPCT), has reported the sale of 34,207 shares of the fund's common stock. The transaction, executed on November 18, 2024, was completed at a price of $11.09 per share, amounting to a total value of $379,355.
Following this transaction, Saba Capital Management holds 3,327,044 shares of Nuveen Core Plus Impact Fund. The filing was signed by Zachary Gindes on behalf of Saba Capital Management and by Boaz Weinstein, reflecting their roles as significant owners in the fund.
InvestingPro Insights
While Saba Capital Management has reduced its position in the Nuveen Core Plus Impact Fund (NYSE:NPCT), individual investors might find the fund's current metrics intriguing. According to InvestingPro data, NPCT boasts a substantial dividend yield of 12.83% as of the latest ex-dividend date on November 15, 2024. This aligns with one of the InvestingPro Tips, which notes that NPCT "pays a significant dividend to shareholders."
The fund's market capitalization stands at $320.04 million, with a price-to-earnings ratio of 15.93, suggesting a moderate valuation relative to its earnings. Another InvestingPro Tip highlights that the stock "generally trades with low price volatility," which could appeal to investors seeking stability in their portfolio.
Despite Saba Capital's recent sale, NPCT has shown strong performance over the past year, with a 30.45% total return. The fund is currently trading at 92.48% of its 52-week high, indicating robust recent performance. These metrics provide context to Saba Capital's decision and may offer valuable insights for investors considering NPCT.
For a more comprehensive analysis, InvestingPro offers additional tips and metrics that could further inform investment decisions regarding NPCT.
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