On July 16, 2023, Saba Capital Management, L.P. (Trades, Portfolio), a renowned investment firm, added 3171692 shares of Nuveen Multi-Asset Income Fund (NMAI, Financial) to its portfolio. This article provides an in-depth analysis of this transaction, the profiles of the guru and the traded company, and the stock's performance and valuation.
Details of the Transaction
Saba Capital Management, L.P. (Trades, Portfolio) executed the transaction on July 16, 2023, adding 3171692 shares of Nuveen Multi-Asset Income Fund to its portfolio. The transaction was executed at a price of $11.81 per share, resulting in a 0.08% impact on the guru's portfolio. Following this transaction, Saba Capital Management, L.P. (Trades, Portfolio) now holds a total of 3,171,692 shares in Nuveen Multi-Asset Income Fund, representing 0.71% of its portfolio and 9.49% of the traded company's equity.
Profile of the Guru: Saba Capital Management, L.P. (Trades, Portfolio)
Saba Capital Management, L.P. (Trades, Portfolio), located at 405 Lexington Avenue, New York, NY 10174, is a prominent investment firm with a diverse portfolio. The firm's top holdings include Templeton Global Income Fund(GIM, Financial), BlackRock Capital Allocation Trust(BCAT, Financial), BlackRock Health Sciences Trust II(BMEZ, Financial), BlackRock Innovation & Growth Tr(BIGZ, Financial), and BlackRock ESG Capital Allocation Trust(ECAT, Financial). The firm's total equity stands at $5.24 billion, with a significant focus on the Financial Services and Technology sectors.
Profile of the Traded Company: Nuveen Multi-Asset Income Fund
Nuveen Multi-Asset Income Fund (NMAI, Financial), a USA-based company, operates as a closed-end management investment company. The company focuses on the pursuit of total return, comprised of income or distributions and capital appreciation. With a market capitalization of $397.431 million, the company's current stock price stands at $11.89.
Stock Performance and Valuation
Since its Initial Public Offering (IPO), Nuveen Multi-Asset Income Fund's stock price has decreased by 24.41%. However, the stock has seen a year-to-date price change ratio of 2.5%. The stock's GF Score, a measure of its potential future performance, stands at 19, indicating poor future performance potential.
Stock's Financial Health
Nuveen Multi-Asset Income Fund's financial health is reflected in its ROE and ROA, which stand at -26.22% and -17.19% respectively. The company's Z Score and Cash to Debt ratio are not available due to insufficient data.
Stock's Momentum and Predictability
The stock's RSI 5 Day, RSI 9 Day, and RSI 14 Day stand at 65.44, 62.38, and 59.66 respectively. The stock's Momentum Index 6 - 1 Month and Momentum Index 12 - 1 Month stand at -5.82 and -10.18 respectively. The stock's rank in terms of RSI 14 Day and Momentum Index 6 - 1 Month are 1330 and 987 respectively.
Conclusion
In conclusion, Saba Capital Management, L.P. (Trades, Portfolio)'s recent acquisition of additional shares in Nuveen Multi-Asset Income Fund is a significant transaction that has increased the guru's stake in the company. Despite the stock's poor future performance potential and negative financial indicators, the guru's decision to increase its holdings may indicate a belief in the company's long-term prospects. This transaction provides valuable insights for value investors, highlighting the importance of thorough analysis and strategic decision-making in investment activities.
