Saba Closed-End Funds ETF has announced an increase in its monthly dividend, raising it to $0.27 per share. This announcement was made on December 29, 2023, and the dividend will be paid to investors of record on December 30, 2023. The payment is scheduled for December 31, 2023, and marks a significant increase of 90% from the previous monthly dividend of $0.14.
The new dividend reflects an annualized yield of 13.9%, offering investors a robust return on their investment. The ex-dividend date is set for December 30, 2023, meaning that shares must be purchased before this date to qualify for the upcoming payment.
Market Performance and Stock Details
Following the announcement, shares of Saba Closed-End Funds ETF opened at $22.93 on December 30, 2023. The stock has experienced fluctuations over the past year, with a low of $18.59 and a high of $22.70.
The company currently has a market capitalization of $304.90 million, a price-to-earnings (P/E) ratio of 21.88, and a beta of 0.72, indicating lower volatility compared to the broader market. The 50-day moving average price stands at $22.74, while the 200-day moving average is at $22.58.
Investors and analysts alike are keeping a close eye on Saba Closed-End Funds ETF as it navigates the market with an eye towards maintaining investor confidence through its dividend policies. This latest increase may signal a positive outlook for the fund’s financial health and commitment to returning value to shareholders.
