Saba Capital Management, L.P., a prominent investment firm, has reported the sale of 16,874 shares of abrdn Global Infrastructure Income Fund (NYSE:ASGI). The transaction, dated November 18, 2024, was executed at a price of $19.62 per share, amounting to a total value of $331,067.
Following this sale, Saba Capital holds 2,926,629 shares of the fund. The sale was disclosed in a recent SEC filing, highlighting Saba Capital's ongoing adjustments to its portfolio. Boaz Weinstein, a significant figure at Saba Capital, is listed as a reporting owner in the filing.
InvestingPro Insights
As Saba Capital Management adjusts its position in abrdn Global Infrastructure Income Fund (NYSE:ASGI), investors might find additional context from recent market data and analyst insights valuable. According to InvestingPro, ASGI is currently trading near its 52-week high, with the stock price at 96.66% of its peak. This aligns with the fund's strong performance, as evidenced by its 29.04% total return over the past year.
One of the most striking features of ASGI is its impressive dividend yield, projected at 12.84% for the upcoming year. This high yield is supported by an InvestingPro Tip noting that ASGI "pays a significant dividend to shareholders" and "has raised its dividend for 5 consecutive years." These factors may explain why institutional investors like Saba Capital maintain substantial positions despite recent sales.
However, potential investors should also consider that ASGI's valuation "implies a poor free cash flow yield," according to another InvestingPro Tip. This insight, combined with the fund's P/E ratio of 14.58, suggests a need for careful analysis of the fund's underlying value proposition.
For those seeking a more comprehensive analysis, InvestingPro offers 5 additional tips on ASGI, providing a deeper dive into the fund's financial health and market position.
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