On September 5, 2023, Saba Capital Management, L.P., a New York-based investment firm, added 18,283 shares to its holdings in Nuveen Multi-Asset Income Fund (NMAI, Financial). This transaction, which increased the firm's total shares in NMAI to 3,717,628, represents a 0.49% change in the firm's holdings and a 0.01% impact on its portfolio. The shares were traded at a price of $11.83, bringing the firm's position in NMAI to 1.15% of its portfolio and 11.12% of NMAI's total shares.
About Saba Capital Management, L.P.
Saba Capital Management, L.P. 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.
Overview of Nuveen Multi-Asset Income Fund
Nuveen Multi-Asset Income Fund (NMAI, Financial) is a closed-end management investment company based in the USA. The company operates in a single segment and focuses on the pursuit of total return, comprised of income or distributions and capital appreciation. As of September 7, 2023, the company has a market cap of $391.414 million and a current stock price of $11.71. The company's PE percentage is not applicable as it is currently at a loss. The GF Value of the stock is also not applicable, indicating that the stock's current price cannot be evaluated against its intrinsic value.
Performance and Financial Health of NMAI
Since the transaction, NMAI's stock has seen a -1.01% change in price. The stock's year-to-date price change ratio stands at 0.95, while its price change since its Initial Public Offering (IPO) is -25.56%. NMAI's GF Score is 19/100, indicating poor future performance potential. The company's Financial Strength is ranked 5/10, while its Profitability Rank is 1/10. The company's Growth Rank is not applicable due to insufficient data.
Return on Equity and Return on Assets of NMAI
NMAI's Return on Equity (ROE) and Return on Assets (ROA) stand at -26.22% and -17.19% respectively. These figures place the company at rank 1529 for ROE and rank 1490 for ROA. These rankings indicate a relatively poor performance in terms of profitability and asset utilization.
Growth Metrics and Momentum of NMAI
Due to insufficient data, the growth metrics of NMAI, including gross margin growth, operating margin growth, 3-year revenue growth, EBITDA growth, and earning growth over the past 3 years, are not applicable. The company's predictability rank is also not available. However, the company's RSI 5-day, 9-day, and 14-day stand at 39.98, 44.22, and 45.85 respectively. The company's momentum index 6 - 1 month and 12 - 1 month stand at -3.75 and -10.99 respectively.
Conclusion
In conclusion, Saba Capital Management, L.P.'s recent acquisition of additional shares in NMAI represents a significant addition to its portfolio. Despite NMAI's poor performance metrics and financial health, the firm's increased stake in the company indicates a potential long-term investment strategy. However, given the current market conditions and the company's performance, investors should exercise caution and conduct thorough research before making investment decisions.
