In a recent transaction, Jeremy Anagnos, Portfolio Manager at NYLI CBRE Global Infrastructure Megatrends Term Fund (NYSE:MEGI), purchased shares of the fund worth a total of $2,940. The acquisition, which took place on September 27, involved 200 shares at a price of $14.7 per share.
The NYLI CBRE Global Infrastructure Megatrends Term Fund, which trades under the ticker NYSE:MEGI, is known for investing in a portfolio of global infrastructure assets. These transactions are a routine part of the investment world, where fund managers often adjust their positions in funds they manage.
Following this purchase, Anagnos now owns a total of 25,000 shares in the fund. The transaction indicates a continued commitment by the portfolio manager to the fund's strategy and prospects.
It is not uncommon for fund managers to have significant holdings in the funds they oversee, aligning their personal investment interests with those of their investors. Details of such transactions are made public to ensure transparency and provide investors with critical information regarding the actions of fund managers and executives.
Investors often monitor these transactions as they can provide insights into a manager's confidence in the fund's performance and outlook. However, it's important to note that the purchase of shares by a fund manager is just one of many factors investors consider when evaluating their investment decisions.
InvestingPro Insights
To complement the recent share purchase by Portfolio Manager Jeremy Anagnos, let's delve into some key metrics and insights from InvestingPro for the NYLI CBRE Global Infrastructure Megatrends Term Fund (NYSE:MEGI).
MEGI currently boasts a substantial dividend yield of 10.2%, with the most recent ex-dividend date on September 26, 2024. This aligns with one of the InvestingPro Tips, which highlights that the fund "pays a significant dividend to shareholders." This high yield could be particularly attractive to income-focused investors in the current market environment.
The fund's performance has been notably strong in recent months. InvestingPro data shows a 17.97% price total return over the past three months and an impressive 40.52% return over the last year. This robust performance is reflected in another InvestingPro Tip, which notes that MEGI has shown a "strong return over the last three months."
Additionally, MEGI is currently trading near its 52-week high, with its price at 99.8% of the highest point in the past year. This information, coupled with the portfolio manager's recent purchase, might suggest confidence in the fund's near-term prospects.
For investors seeking a more comprehensive analysis, InvestingPro offers additional tips and insights. In fact, there are 6 more InvestingPro Tips available for MEGI, which could provide valuable context for potential investors considering this infrastructure-focused fund.
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