Saba capital management buys $142k of Nuveen core plus impact fund shares

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In a recent transaction, Saba Capital Management, L.P., a significant shareholder in Nuveen Core Plus Impact Fund (NYSE:NPCT), purchased shares valued at approximately $142,748. The buying activity, which took place on March 19, 2024, involved the acquisition of 13,886 shares at a price of $10.28 per share. This transaction has increased Saba Capital Management’s holdings in the fund to a total of 3,205,943 shares.

Nuveen Core Plus Impact Fund, which trades under the ticker NYSE:NPCT, is known for its focus on delivering competitive returns while making a positive social and environmental impact. The fund’s strategy aligns with the growing interest among investors in impact investing, which considers both financial returns and the contribution to societal good.

The purchase by Saba Capital Management is noteworthy as it reflects confidence in the fund’s performance and potential for growth. Investors often watch the buying and selling activity of significant shareholders as an indicator of a fund’s prospects.

The transaction was disclosed in a Form 4 filing with the Securities and Exchange Commission. It is important for investors to keep an eye on such filings as they provide insights into the actions of major stakeholders and can have implications for the market performance of the securities involved.

Saba Capital Management, based in New York, is a well-regarded investment management firm that specializes in credit-relative value strategies. The firm’s investment decisions are closely watched by market participants due to its significant influence and expertise in the field.

This recent purchase adds to the series of transactions by major shareholders and executives in the financial industry, which can often signal their perspective on the value and future direction of the companies and funds they manage.

InvestingPro Insights

The Nuveen Core Plus Impact Fund (NYSE:NPCT) has garnered attention not only for its commitment to social and environmental impact but also for its financial metrics that may interest investors. With a market capitalization of $295.6 million, the fund stands as a notable player in the impact investing space. An InvestingPro Tip highlights that NPCT pays a significant dividend to shareholders, which is reflected in its dividend yield of 10.68%, as of the last dividend ex-date on March 14, 2024. This yield is particularly attractive in the current investment climate, where income-generating assets are highly sought after.

Investors looking for stability might also take note of another InvestingPro Tip that points out NPCT’s low price volatility. This characteristic, combined with a trading position near its 52-week high, suggests a level of investor confidence in the fund’s performance. However, it’s important to consider that the fund suffers from weak gross profit margins and a valuation that implies a poor free cash flow yield.

Recent price performance data underscores the fund’s steady market presence, with a slight 0.18% drop in the 1-week total return, balanced by a 4.23% gain over the last three months, and a robust 14.26% increase over the past year. The average daily volume over the last three months stands at 0.1 million USD, indicating a healthy level of trading activity.

For investors intrigued by NPCT’s blend of financial and social returns, there are additional InvestingPro Tips available that could provide deeper insights into the fund’s performance and potential. By using the exclusive coupon code PRONEWS24, readers can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, where they can access a total of 5 InvestingPro Tips for NPCT to inform their investment decisions.

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