On September 5, 2023, Saba Capital Management, L.P., a New York-based investment firm, increased its holdings in PIMCO Energy & Tactical Credit Opportunities (NRGX, Financial). The firm added 77,167 shares at a price of $17.45 per share, bringing its total holdings to 6,254,027 shares. This transaction represents a 1.25% change in the firm's holdings and has a 0.04% impact on its portfolio. The firm now holds a 13.99% stake in NRGX, making it a significant part of its investment strategy.
About Saba Capital Management, L.P.
Saba Capital Management, L.P. is a prominent investment firm located at 405 Lexington Avenue, New York. The firm manages a diverse portfolio of 624 stocks, with a total equity of $3.84 billion. Its 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 investment strategy primarily focuses on the Financial Services and Technology sectors. 
Overview of 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's primary investment objective is to seek total return, with a secondary objective to provide high current income. As of September 7, 2023, the company's market capitalization stands at $763.596 million, and its stock price is $17.08. The company's PE percentage is 4.14, indicating its profitability. 
Performance of NRGX Stock
Since the transaction, the price of NRGX has decreased by 2.12%. The stock's year-to-date price change ratio is 16.99%, and it has decreased by 14.6% since its Initial Public Offering. The stock's GF Score is 38/100, indicating a poor future performance potential. The stock's Balance Sheet Rank is 3/10, its Profitability Rank is 2/10, and its Growth Rank is 0/10.
Financial Health of NRGX
The financial health of NRGX is evaluated using several metrics. The stock's Piotroski F-Score is 7, indicating a healthy financial situation. However, its Altman Z score is 0.00, and its Cash to Debt ratio is 0.01, suggesting potential financial distress. The stock's ROE is 24.02, and its ROA is 17.98, both of which are relatively high compared to industry standards.
Momentum of NRGX Stock
The momentum of NRGX is evaluated using the RSI and Momentum Index. The stock's RSI 5 Day is 43.53, its RSI 9 Day is 51.19, and its RSI 14 Day is 55.54. The stock's Momentum Index 6 - 1 Month is 4.44, and its Momentum Index 12 - 1 Month is 8.71. These figures suggest a moderate momentum for the stock.
Conclusion
In conclusion, Saba Capital Management, L.P.'s recent acquisition of NRGX shares represents a significant addition to its portfolio. Despite the stock's recent decrease in price and poor growth rank, its high ROE and ROA suggest potential for future profitability. However, investors should be aware of the stock's low financial strength and moderate momentum. As always, it is crucial to conduct thorough research and consider various factors before making investment decisions.
