Saba Capital Management, L.P., a significant shareholder in Nuveen Core Plus Impact Fund (NYSE:NPCT), recently disclosed the sale of common stock valued at approximately $316,791. The transactions took place on November 14 and 15, involving the sale of 21,029 shares at $11.21 each and 7,309 shares at $11.09 each, respectively. Following these sales, Saba Capital holds 3,361,251 shares in the fund. This activity was documented in a Form 4 filing with the Securities and Exchange Commission.
InvestingPro Insights
To provide additional context to Saba Capital Management’s recent stock sale, let’s examine some key metrics for Nuveen Core Plus Impact Fund (NYSE:NPCT). According to InvestingPro data, NPCT currently has a market capitalization of $317.46 million and a P/E ratio of 15.93, suggesting a moderate valuation relative to its earnings.
One of the most striking features of NPCT is its impressive dividend yield, which stands at 12.93% for the upcoming year. This aligns with an InvestingPro Tip indicating that the fund “pays a significant dividend to shareholders.” This high yield could be a factor in attracting and retaining investors, despite Saba Capital’s recent share reduction.
Another InvestingPro Tip notes that the stock “generally trades with low price volatility.” This characteristic may appeal to investors seeking stability, particularly in the current economic climate. The fund’s year-to-date price total return of 21.84% and one-year price total return of 29.39% demonstrate strong performance, which could explain why Saba Capital maintains a substantial position even after the recent sale.
It’s worth noting that InvestingPro offers additional tips and insights beyond what we’ve discussed here. Investors interested in a more comprehensive analysis of NPCT can explore the full range of tips available through the InvestingPro product.
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