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BRW: Accessing Saba Capital's CEF At A Ripe Time For Shareholder Activism
Saba Capital Income & Opportunities Fund is a closed-end fund that invests in global opportunities across various asset classes. BRW uses both public and private instruments, including CEFs and SPACs, and may use derivatives to enhance returns or reduce portfolio risk. BRW offers a high distribution yield of approximately 12% and trades at a discount of around 11%, making it attractive to income-seeking investors.
The Month In Closed-End Funds: October 2023
For the third straight month, both equity (-2.52% on a NAV basis) and fixed income (-1.62%) CEFs on average suffered downside performance. At month end, 6% of all CEFs traded at a premium to their NAV, with 8% of equity CEFs and only 5% of fixed income CEFs trading in premium territory. Utility CEFs (-0.52%), for the first month in seven, mitigated losses better than the other classifications in the equity CEF universe for October.
BRW: Get Access To Hedge Funds And A Massive Yield
Saba Capital Income & Opportunities Fund employs an unusual strategy to provide a high level of income to investors, with a current yield of 13.28%. The fund has outperformed the S&P 500 Index on a total return basis since July, partially due to its high distribution yield and investments that benefit from rising interest rates. The fund's portfolio includes investments in closed-end funds, special-purpose acquisition companies, and public and private debt instruments, offering access to assets typically only available to accredited investors.
SPE And BRW: Investing With The Activists
Closed-end funds offer opportunities for investors to exploit discounts and premiums, with Bulldog Investors and Saba Capital Management being major activists in this space. Both Bulldog and Saba offer publicly traded CEFs that can pool some of their targets into these funds, providing discounted exposure to discounted investments. Despite the added expenses of investing through a CEF into another pool of CEFs, both funds offer attractive discounts, with Special Opportunities Fund looking particularly attractive.
BRW: Unique Assets, Variable Distribution, And Selling At A Discount
Investors today are desperate for additional sources of income to maintain their lifestyles in the current inflationary environment. Saba Capital Income & Opportunities Fund invests in a unique portfolio of CEFs, SPACs, and traditional stocks and bonds to provide a high level of current income. The BRW closed-end fund yields a whopping 13.08% annually, but its distribution varies from month to month.
BRW: Unique CEF With Some Good Qualities, But Distribution Looks Unsustainable
BRW: Unique CEF With Some Good Qualities, But Distribution Looks Unsustainable.
BRW: Top Performing Credit Hedge Fund In A CEF Structure
BRW is managed by Saba Capital Management, one of the best credit managers in the world. The fund was able to navigate a tough 2022 with a 0.3% total return, vastly outperforming peers.
BRW: Attractively Discounted, High Managed Distribution Yield
Since our previous update, the portfolio has shown a slight decline in SPAC exposure, which I see as positive. The fund has a managed distribution plan based on 12% and is adjusted monthly.
99 Monthly Paying Dividend Stocks And 80 Funds For November
Imagine stocks or funds that pay out their dividends once-a-month! Unlike waiting for quarterly, semi-annual or (ugh) annual payouts, your angst waiting for money is reduced by 300%, or more! These November U.S. exchange-traded monthly-paid (MoPay) dividends, upsides, and net gains include: 1. Stocks by yield (99); 2. Stocks by price upside (30); 3. Closed-End Investments, Exchange-Traded Funds & Notes (CEICs/ETFs/ETNs) by yield >9.39% (80).
This 12.7% Dividend Soars When The Fed Hikes Rates
Usually in a bear market like this, something is working somewhere.
BRW Financial details
BRW Financial Performance
Yearly Fundamentals Overview
Last date of statement is 2022-10-31
|Revenue per share||0.16||-0.41||0.29||-0.13|
|Net income per share||0.14||-0.45||0.26||-0.16|
|Operating cash flow per share||0.72||7.4||4.47||-1.65|
|Free cash flow per share||0.72||7.4||4.47||-1.65|
|Cash per share||0||0.11||0||0.09|
|Book value per share||10.96||9.94||11.74||8.1|
|Tangible book value per share||10.96||9.94||11.74||8.1|
|Share holders equity per share||10.96||9.94||11.74||8.1|
|Interest debt per share||4.56||0.44||1.47||3.93|
|Price to sales ratio||62.5||-22.41||32.51||-58.13|
|EV to sales||90.64||-23.05||37.58||-86.13|
|Enterprise value over EBITDA||101.72||-21.2||41.71||-72.61|
|EV to operating cash flow||19.76||1.29||2.43||-7.04|
|EV to free cash flow||19.76||1.29||2.43||-7.04|
|Free cash flow yield||0.07||0.8||0.48||-0.21|
|Debt to equity||0.4||0.04||0.12||0.48|
|Debt to assets||0.27||0.04||0.11||0.32|
|Net debt to EBITDA||31.58||-0.59||5.63||-23.61|
|Sales general and administrative to revenue||0.11||-0.2||0.15||-0.4|
|Research and developement to revenue||0||0||0||0|
|Intangibles to total assets||0||0||0||0|
|Capex to operating cash flow||0||0||0||0|
|Capex to revenue||0||0||0||0|
|Capex to depreciation||0||0||0||0|
|Stock based compensation to revenue||0||0||0||0|
|Return on tangible assets||0.01||-0.04||0.02||-0.01|
|Tangible asset value||782.81M||605.54M||419.71M||367.46M|
|Net current asset value||-347.38M||17.91M||8.89M||-160.57M|
|Days sales outstanding||651.58||-809.45||2.59K||-967.68|
|Days payables outstanding||0||0||0||0|
|Days of inventory on hand||0||0||0||0|
|Capex per share||0||0||0||0|
Quarterly Fundamentals Overview
Last date of statement is 2023-04-30 for Q2
|Revenue per share||0||0|
|Net income per share||0||0|
|Operating cash flow per share||0||0|
|Free cash flow per share||0||0|
|Cash per share||0||0|
|Book value per share||0||0|
|Tangible book value per share||0||0|
|Share holders equity per share||0||0|
|Interest debt per share||0||0|
|Price to sales ratio||0||0|
|EV to sales||0||0|
|Enterprise value over EBITDA||0||0|
|EV to operating cash flow||0||0|
|EV to free cash flow||0||0|
|Free cash flow yield||0||0|
|Debt to equity||0.48||0.18|
|Debt to assets||0.32||0.11|
|Net debt to EBITDA||0||0|
|Sales general and administrative to revenue||0||0|
|Research and developement to revenue||0||0|
|Intangibles to total assets||0||0|
|Capex to operating cash flow||0||0|
|Capex to revenue||0||0|
|Capex to depreciation||0||0|
|Stock based compensation to revenue||0||0|
|Return on tangible assets||0||0|
|Tangible asset value||367.46M||370.66M|
|Net current asset value||-160.57M||-15.8M|
|Days sales outstanding||0||0|
|Days payables outstanding||0||0|
|Days of inventory on hand||0||0|
|Capex per share||0||0|
BRW Frequently Asked Questions
What is Saba Capital Income & Opportunities Fund stock symbol ?
Saba Capital Income & Opportunities Fund is a US stock , located in New york of Ny and trading under the symbol BRW
What is Saba Capital Income & Opportunities Fund stock quote today ?
Saba Capital Income & Opportunities Fund stock price is $7.82 today.
Is Saba Capital Income & Opportunities Fund stock public?
Yes, Saba Capital Income & Opportunities Fund is a publicly traded company.