Saba Capital Management, L.P., a significant stakeholder in abrdn Global Infrastructure Income Fund (NYSE:ASGI), has recently executed a sale of shares valued at approximately $612,554. The transactions occurred over two days, on November 21 and 22, 2024, involving the sale of 25,916 shares at a price of $19.61 each, followed by 5,329 shares at $19.58 each.
Following these transactions, Saba Capital Management's total holdings in the fund have decreased to 2,825,431 shares. The sales were conducted indirectly and are part of the fund's broader investment activities. Boaz Weinstein, a ten percent owner, was also listed in the filing, which was signed by Zachary Gindes on behalf of Saba Capital Management.
InvestingPro Insights
While Saba Capital Management has reduced its stake in abrdn Global Infrastructure Income Fund (NYSE:ASGI), individual investors might find the fund's current financial metrics intriguing. According to InvestingPro data, ASGI boasts a substantial dividend yield of 12.82% for the year, with its most recent ex-dividend date on November 21, 2024. This aligns with one of the InvestingPro Tips, which notes that ASGI "pays a significant dividend to shareholders."
The fund's market capitalization stands at $566 million, with a price-to-earnings ratio of 14.58, suggesting a relatively modest valuation compared to some growth-oriented funds. ASGI has demonstrated strong performance over the past year, with a 29.63% total return, and is currently trading at 96.56% of its 52-week high. This performance is reflected in another InvestingPro Tip, which indicates that ASGI is "trading near 52-week high."
For investors seeking more comprehensive analysis, InvestingPro offers additional tips and insights beyond those mentioned here. In fact, there are 5 more InvestingPro Tips available for ASGI, which could provide valuable context for understanding the fund's position in the current market landscape.
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