On August 24, 2023, Saba Capital Management, L.P. added 3,458,732 shares of Nuveen Multi-Asset Income Fund (NMAI, Financial) to its portfolio. The transaction resulted in a 0.36% change in the firm's holdings. Nuveen Multi-Asset Income Fund, a closed-end management investment company, focuses on total return, comprised of income or distributions and capital appreciation. The company operates in a single segment and has a market capitalization of $387.738 million.
Details of the Transaction
The shares were acquired at a trade price of $11.63, making the traded stock account for 1.05% of the guru's portfolio. The total shares held by Saba Capital Management in Nuveen Multi-Asset Income Fund now stand at 3,458,732, representing 10.35% of the traded company's stock. The transaction had no significant impact on the guru's portfolio.
Profile of Saba Capital Management, L.P.
Saba Capital Management, L.P., located at 405 Lexington Avenue, New York, NY 10174, is a firm with a diverse investment 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 equity stands at $3.84 billion, with a strong focus on the Financial Services and Technology sectors.
Analysis of Nuveen Multi-Asset Income Fund's Stock
Nuveen Multi-Asset Income Fund, symbol NMAI, is a USA-based company. The current stock price is $11.6, with a PE percentage of 0.00, indicating that the company is at a loss. The GF Value of the stock is 0.00, and the price to GF Value is also 0.00, suggesting that the stock's valuation cannot be evaluated. The stock's GF Score is 19/100, indicating poor future performance potential.
Evaluation of Nuveen Multi-Asset Income Fund's Performance
Since the transaction, the stock's gain percent stands at -0.26, and the IPO percent is -26.26. The year-to-date price change ratio is 0. The stock's financial health, as indicated by its balance sheet rank of 5/10, profitability rank of 1/10, and growth rank of 0/10, is not promising. The stock's GF Value Rank and Momentum Rank are also 0/10, and its Altman Z score is 0.00.
Assessment of Nuveen Multi-Asset Income Fund's Industry Performance
Nuveen Multi-Asset Income Fund operates in the Asset Management industry. The company's ROE is -26.22, and its ROA is -17.19. The gross margin growth, operating margin growth, and three-year revenue growth are all 0.00, indicating a lack of growth in these areas.
Conclusion
In conclusion, Saba Capital Management, L.P.'s acquisition of shares in Nuveen Multi-Asset Income Fund is a significant addition to its portfolio. However, the performance and financial health of Nuveen Multi-Asset Income Fund raise concerns about the potential return on this investment. The transaction's impact on the guru's portfolio and the traded company will be closely monitored in the coming months.
