On October 26, 2023, Saba Capital Management, L.P. (Trades, Portfolio), a New York-based investment firm, added 65,061 shares of Nuveen Multi-Asset Income Fund (NMAI, Financial) to its portfolio. This transaction increased the firm's total holdings in NMAI to 4,414,368 shares, representing a 1.23% position in the firm's portfolio and a 13.20% stake in the traded stock. The shares were acquired at a price of $10.66 each.
Nuveen Multi-Asset Income Fund is a closed-end management investment company based in the USA. The fund focuses on the pursuit of total return, comprised of income or distributions and capital appreciation. As of October 31, 2023, the company has a market capitalization of $358.323 million.
Profile of Saba Capital Management, L.P. (Trades, Portfolio)
Saba Capital Management, L.P. (Trades, Portfolio) is an investment firm located at 405 Lexington Avenue, New York. The firm manages a 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 investments are primarily concentrated in the Financial Services and Technology sectors.
Analysis of the Transaction
The recent acquisition of NMAI shares by Saba Capital Management, L.P. (Trades, Portfolio) has slightly increased the firm's exposure to the Asset Management industry. The transaction represents a 1.50% change in the firm's holdings and has a 0.02% impact on its portfolio. Since the transaction, NMAI's stock price has increased by 0.56% to $10.72.
Overview of Nuveen Multi-Asset Income Fund
Nuveen Multi-Asset Income Fund, trading under the symbol NMAI, operates in a single segment. The company's GF Score is 16/100, indicating poor future performance potential. The company's Financial Strength is ranked 3/10, and its Profitability Rank is 1/10. The company's Growth Rank and Momentum Rank are both 0/10, indicating a lack of growth and momentum.
Performance of Nuveen Multi-Asset Income Fund
Nuveen Multi-Asset Income Fund has a return on equity (ROE) of 4.58% and a return on assets (ROA) of 2.98%. The company's gross margin growth and operating margin growth are both 0.00. The company's year-to-date price change ratio is -7.59%, and its price change since its IPO is -31.85%. The company's 5-day, 9-day, and 14-day RSI are 31.36, 30.27, and 29.77, respectively.
Conclusion
In conclusion, Saba Capital Management, L.P. (Trades, Portfolio)'s recent acquisition of NMAI shares represents a strategic move to increase its exposure to the Asset Management industry. Despite NMAI's low GF Score and poor financial strength, the firm's investment may be based on other factors not captured in these metrics. As always, investors are advised to conduct their own thorough research before making investment decisions.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
