Saba Capital Management, L.P. (Trades, Portfolio), a New York-based investment firm, has recently increased its holdings in PIMCO Energy & Tactical Credit Opportunities (NRGX, Financial). The firm added 12,803 shares to its portfolio on August 4, 2023, bringing its total holdings to 5,752,036 shares. This transaction has further solidified Saba Capital's position in NRGX, accounting for 1.82% of its portfolio and 12.87% of NRGX's total shares. This article provides an in-depth analysis of the transaction, the guru's profile, and the traded stock's performance.
Transaction Details
The transaction took place on August 4, 2023, with Saba Capital purchasing the additional shares at a price of $16.6 each. This move represents a 0.22% change in the firm's holdings in NRGX. Despite the relatively small percentage change, the transaction had a significant impact on the firm's portfolio, reinforcing its investment in the Financial Services and Technology sectors. 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).
Guru Profile: 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 renowned investment firm with a diverse portfolio of 762 stocks. The firm manages an equity of $5.24 billion, with a significant focus on the Financial Services and Technology sectors. The recent transaction aligns with the firm's investment philosophy, demonstrating its confidence in NRGX's potential for growth and profitability.
Traded Stock Information: PIMCO Energy & Tactical Credit Opportunities
PIMCO Energy & Tactical Credit Opportunities (NRGX, Financial) is a non-diversified, limited term closed-end management investment company based in the USA. The company operates in a single segment and has a market capitalization of $739.007 million. As of the transaction date, NRGX's stock price was $16.53, reflecting a PE percentage of 4.91. However, due to insufficient data, the GF Valuation and GF Value could not be evaluated.
Stock Performance and Rankings
NRGX's performance is evaluated based on various metrics. The company's Financial Strength is ranked 3/10, while its Profitability Rank stands at 2/10. The Growth Rank is currently not applicable due to insufficient data. The GF Value Rank and Momentum Rank are also not available. The company's Piotroski F-Score is 2, indicating poor business operations, and its Altman Z score is 0, suggesting potential bankruptcy risk.
Stock Momentum and Predictability
NRGX's momentum is evaluated using the RSI and Momentum Index. The RSI 5 Day, RSI 9 Day, and RSI 14 Day are 65.80, 65.91, and 65.73, respectively. The Momentum Index 6 - 1 Month is 0.96, and the Momentum Index 12 - 1 Month is 10.20. However, the stock's predictability rank is currently not available.
Conclusion
In conclusion, Saba Capital Management, L.P. (Trades, Portfolio)'s recent acquisition of additional shares in NRGX aligns with its investment philosophy and strengthens its position in the Financial Services sector. Despite NRGX's low profitability and financial strength rankings, the firm's confidence in the stock's potential for growth and profitability remains unwavering. This transaction is expected to have a significant impact on both Saba Capital's portfolio and NRGX's future performance.
