Saba Capital Management, L.P. Increases Stake in Nuveen Core Plus Impact Fund

On August 18, 2023, Saba Capital Management, L.P., a renowned investment firm, added 13,711 shares to its holdings in Nuveen Core Plus Impact Fund (

NPCT, Financial). This article provides an in-depth analysis of this transaction, the profiles of the guru and the traded company, and the financial and technical aspects of the traded stock.

Details of the Transaction

The transaction took place on August 18, 2023, with Saba Capital Management, L.P. adding 13,711 shares of Nuveen Core Plus Impact Fund to its portfolio. The shares were traded at a price of $9.73 each. This addition increased the firm’s total holdings in NPCT to 2,913,177 shares, representing 0.74% of its portfolio and 10.13% of NPCT’s total shares.

Profile of the Guru: Saba Capital Management, L.P.

Saba Capital Management, L.P., located at 405 Lexington Avenue, New York, NY 10174, is a prominent investment firm with a diverse portfolio. The firm holds 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 preferred sectors are Financial Services and Technology.

Overview of the Traded Stock: Nuveen Core Plus Impact Fund

Nuveen Core Plus Impact Fund (

NPCT, Financial), based in the USA, is a diversified, closed-end management investment company. The company seeks to generate total return through high current income and capital appreciation, while giving special consideration to certain impact and environmental, social and governance criteria. The company operates in a single segment and has a market capitalization of $277.773 million. The current stock price is $9.66.

Financial Analysis of the Traded Stock

As of the date of this article, NPCT’s PE Percentage is not applicable, indicating that the company is currently at a loss. The GF Value of the stock is also not available, making it impossible to evaluate the GF Valuation. The stock has experienced a -0.72% price change since the transaction and a -36.41% price change since its IPO. The year-to-date price change ratio stands at -7.65%. The GF Score of the stock is 19/100, indicating poor future performance potential.

Performance and Predictability of the Traded Stock

The stock’s Financial Strength is ranked 5/10, while its Profitability Rank is 1/10. The Growth Rank is 0/10, indicating no growth. The GF Value Rank and Momentum Rank are also 0/10, suggesting no momentum. The stock’s Altman Z score and cash to debt ratio are not applicable. The stock operates in the Asset Management industry.

Technical Analysis of the Traded Stock

The stock’s RSI 5 Day, RSI 9 Day, and RSI 14 Day are 12.09, 24.49, and 31.83, respectively. The Momentum Index 6 – 1 Month and Momentum Index 12 – 1 Month are -8.81 and -19.55, respectively. The RSI 14 Day Rank is 377, and the Momentum Index 6 – 1 Month Rank is 1261.

Conclusion

In conclusion, Saba Capital Management, L.P.’s recent addition of NPCT shares to its portfolio is a significant move. However, given the stock’s poor performance and growth potential, as indicated by its GF Score and Growth Rank, the transaction’s impact on the stock and the guru’s portfolio remains to be seen. Value investors should closely monitor the stock’s performance and the firm’s future transactions.