On November 1, 2023, Saba Capital Management, L.P. (Trades, Portfolio), a New York-based investment firm, added 19,274 shares of Nuveen Multi-Asset Income Fund (NMAI, Financial) to its portfolio. This transaction resulted in a 0.44% change in the firm's holdings and had a 0.01% impact on its portfolio. The shares were acquired at a trade price of $10.76, bringing the firm's total holdings in NMAI to 4,433,642 shares, representing 1.24% of its portfolio and 13.26% of NMAI's total shares.
About Nuveen Multi-Asset Income Fund
Nuveen Multi-Asset Income Fund is a U.S.-based closed-end management investment company. The fund focuses on total return, comprising income or distributions and capital appreciation. With a market capitalization of $374.701 million, the company operates in a single segment. As of November 4, 2023, the stock's current price stands at $11.21, a 4.18% gain since the transaction.
Profile of Saba Capital Management, L.P. (Trades, Portfolio)
Saba Capital Management, L.P. (Trades, Portfolio), located at 405 Lexington Avenue, New York, NY 10174, is an investment firm with a portfolio of 624 stocks. The firm's equity stands at $3.84 billion, with its top holdings in 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 top sectors are Financial Services and Technology.
Analysis of the Transaction
The acquisition of NMAI shares by Saba Capital Management, L.P. (Trades, Portfolio) has had a minimal impact on the firm's portfolio. However, the firm now holds a significant position in NMAI, owning 13.26% of the company's total shares. This indicates the firm's confidence in NMAI's potential for growth and return on investment.
Performance of Nuveen Multi-Asset Income Fund
Nuveen Multi-Asset Income Fund has a PE percentage of 17.52. However, due to insufficient data, the GF Valuation cannot be evaluated. The company's GF Score stands at 16/100, indicating poor future performance potential. The company's balance sheet rank is 3/10, profitability rank is 1/10, and growth rank is 0/10. The company's momentum rank is also 0/10, indicating a lack of momentum in the stock's price movement.
Stock's Performance Analysis
Since its IPO, NMAI has seen a price change of -28.73%. The year-to-date price change ratio stands at -3.36%. The stock's 5-day RSI is 87.52, 9-day RSI is 73.60, and 14-day RSI is 63.11. The momentum index for 6 - 1 month is -6.06, and for 12 - 1 month is -4.74.
Conclusion
In conclusion, Saba Capital Management, L.P. (Trades, Portfolio)'s acquisition of NMAI shares represents a significant addition to its portfolio. Despite NMAI's low GF Score and ranks in balance sheet, profitability, and growth, the firm's substantial investment in the company indicates its confidence in the stock's potential. However, value investors should consider the stock's performance and rankings 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.
