On October 2, 2023, Saba Capital Management, L.P. (Trades, Portfolio), a New York-based firm, added 656 shares of Nuveen Multi-Asset Income Fund (NMAI, Financial) to its portfolio. The shares were acquired at a trade price of $11.07, bringing the firm's total holdings in NMAI to 4,189,883 shares. This transaction represents a 1.21% position in the firm's portfolio and a 12.53% stake in NMAI.
About Saba Capital Management, L.P. (Trades, Portfolio)
Saba Capital Management, L.P. (Trades, Portfolio) is a firm with a strong focus on the Financial Services and Technology sectors. The firm's investment philosophy is centered on identifying undervalued securities and capitalizing on market inefficiencies. With an equity of $3.84 billion, the firm holds 624 stocks in its portfolio. 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).
Nuveen Multi-Asset Income Fund Overview
Nuveen Multi-Asset Income Fund is a US-based closed-end management investment company. The company's business model is focused on the pursuit of total return, comprised of income or distributions and capital appreciation. With a market capitalization of $363.003 million, NMAI operates in a single segment. The company's stock is currently priced at $10.86, representing a decrease of 1.9% since the transaction.
Analysis of Nuveen Multi-Asset Income Fund's Stock Performance
Since its Initial Public Offering (IPO), NMAI's stock has decreased by 30.96%. The year-to-date price change ratio stands at -6.38%. The company's GF Score is 15/100, indicating poor future performance potential. The Balance Sheet Rank, Profitability Rank, and Growth Rank are 3/10, 1/10, and 0/10 respectively, suggesting that the company's financial health could be better.
Evaluation of Nuveen Multi-Asset Income Fund's Financial Health
Nuveen Multi-Asset Income Fund's ROE and ROA are 4.58 and 2.98 respectively. The company's RSI 5 Day, RSI 9 Day, and RSI 14 Day are 15.62, 18.48, and 23.47 respectively, indicating a bearish market momentum. The Momentum Index 6 - 1 Month and Momentum Index 12 - 1 Month are 2.07 and 0.85 respectively, suggesting a downward trend in the stock's price.
Conclusion
In conclusion, Saba Capital Management, L.P. (Trades, Portfolio)'s recent acquisition of NMAI shares represents a significant addition to its portfolio. However, given NMAI's poor GF Score and declining stock performance, it remains to be seen how this transaction will impact the firm's overall portfolio performance. As always, investors are advised to conduct their own thorough research before making investment decisions.
