On July 31, 2023, Saba Capital Management, L.P. (Trades, Portfolio), a New York-based investment firm, executed a significant transaction involving the Nuveen Core Plus Impact Fund (NPCT, Financial). The firm reduced its stake in NPCT, selling off 29,512 shares at a price of $10.06 per share. This move resulted in a -1.01% change in the firm's portfolio, leaving Saba Capital with a total of 2,899,466 shares in NPCT, representing 0.56% of their portfolio and 10.08% of NPCT's total shares.
About 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). With an equity of $5.24 billion, the firm has a strong presence in the Financial Services and Technology sectors. 
Details of the Transaction
The transaction saw Saba Capital Management, L.P. (Trades, Portfolio) reduce its stake in NPCT by 29,512 shares, leading to a -1.01% change in the firm's portfolio. The shares were sold at a price of $10.06 each, leaving the firm with a total of 2,899,466 shares in NPCT. This represents 0.56% of their portfolio and 10.08% of NPCT's total shares. The transaction signifies a strategic shift in the firm's investment strategy, possibly due to changes in market conditions or the firm's assessment of NPCT's future performance.
Overview of Nuveen Core Plus Impact Fund
Nuveen Core Plus Impact Fund (NPCT, Financial), based in the USA, is a diversified, closed-end management investment company. The fund seeks total return through high current income and capital appreciation, while giving special consideration to certain impact and environmental, social and governance criteria. The company operates in a single segment and has a market cap of $286.112 million. The stock's current price is $9.95, and it has a PE percentage of 9999.00, indicating that the company is currently at a loss. The GF Value of the stock is not available, hence it cannot be evaluated. 
Performance of Nuveen Core Plus Impact Fund
Since its IPO, NPCT has seen a price change of -34.5%. The year-to-date price change ratio stands at -4.88%. The stock's GF Score is 16/100, indicating poor future performance potential. The stock's Financial Strength is ranked 5/10, while its Profitability Rank and Growth Rank are both 0/10. The GF Value Rank and Momentum Rank are also 0/10, indicating a lack of momentum in the stock's performance.
Nuveen Core Plus Impact Fund's Financial Health
NPCT's financial health is a concern, with a Z score of 0.00 and a cash to debt ratio of 0.00. The company's interest coverage is 9999.00, indicating that it is currently at a loss. The company's ROE and ROA are both 0.00, and it has seen no growth in gross margin, operating margin, or revenue over the past three years.
Nuveen Core Plus Impact Fund's Market Performance
NPCT's market performance is characterized by a 5-day RSI of 36.28, a 9-day RSI of 41.94, and a 14-day RSI of 44.85. The stock's 6 - 1 month momentum index is -14.71, and its 12 - 1 month momentum index is -20.62. The stock's 14-day RSI rank is 571, and its 6 - 1 month momentum index rank is 1394.
Conclusion
In conclusion, Saba Capital Management, L.P. (Trades, Portfolio)'s decision to reduce its stake in NPCT is a significant move that reflects the firm's investment strategy. Despite NPCT's poor performance and financial health, it still constitutes 0.56% of Saba Capital's portfolio. This transaction, therefore, has implications for both the firm and NPCT, and it will be interesting to see how it influences their future performance.
