In recent transactions, Saba Capital Management, L.P. and Boaz Weinstein, both significant stakeholders in Nuveen Core Plus Impact Fund (NYSE:NPCT), reported selling shares valued at $289,407. The sale involved 25,144 shares of common stock at a price of $11.51 per share. Following the transaction, the reporting owners maintain a substantial position, with 3,398,187 shares still held indirectly. These transactions highlight ongoing portfolio adjustments by major investors in the fund.
InvestingPro Insights
While Saba Capital Management and Boaz Weinstein have reduced their holdings in Nuveen Core Plus Impact Fund (NYSE:NPCT), the fund continues to offer attractive features for income-focused investors. According to InvestingPro data, NPCT boasts a remarkable dividend yield of 12.49% for 2024, with the most recent ex-dividend date on October 15, 2024. This aligns with one of the InvestingPro Tips, which notes that NPCT "pays a significant dividend to shareholders."
The fund's market capitalization stands at $328.67 million, with a price-to-earnings ratio of 15.93, suggesting a relatively modest valuation compared to broader market averages. NPCT has demonstrated strong performance over the past year, with a 36% price total return, and a year-to-date return of 24.8%, indicating positive momentum despite the recent insider sales.
Another InvestingPro Tip highlights that the stock "generally trades with low price volatility," which may appeal to risk-averse investors seeking stable income streams. This characteristic, combined with the high dividend yield, could explain why major stakeholders maintain significant positions even after selling some shares.
For investors interested in a deeper analysis, InvestingPro offers additional tips and insights on NPCT, with 4 more tips available to subscribers.
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