On August 7, 2023, Saba Capital Management, L.P., a New York-based investment firm, increased its holdings in abrdn Global Infrastructure Income Fund (ASGI, Financial) by acquiring an additional 122,864 shares. This article provides an in-depth analysis of this transaction, the investment philosophy of Saba Capital, and the performance of ASGI.
About Saba Capital Management, L.P.
Saba Capital Management, L.P., located at 405 Lexington Avenue, New York, is a renowned investment firm with a diverse portfolio. The firm's 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 equity stands at $3.84 billion, with a strong focus on the Financial Services and Technology sectors.
Transaction Details
The transaction, which took place on August 7, 2023, saw Saba Capital add 122,864 shares of ASGI to its portfolio at a trade price of $17.67 per share. This move increased the firm's total holdings in ASGI to 1,276,866 shares, representing 0.59% of its portfolio and 5.10% of ASGI's total shares.
abrdn Global Infrastructure Income Fund Overview
abrdn Global Infrastructure Income Fund (ASGI, Financial) is a non-diversified, closed-end management investment company based in the USA. The company aims to provide a high level of total return with an emphasis on current income by investing in assets that provide necessary services to society. ASGI operates in a single segment and has a market capitalization of $436.326 million.
ASGI's Performance and Valuation
ASGI's current price stands at $17.31, representing a -2.04% change since the transaction. The company's year-to-date price change ratio is 1.23%. However, the company's GF Value and GF Valuation are not available due to insufficient data. ASGI's GF Score is 41/100, indicating poor future performance potential. The company's Financial Strength is ranked 8/10, while its Profitability Rank is 1/10. The company's Growth Rank and GF Value Rank are both 0/10, indicating no growth and no GF Value data available.
ASGI's Momentum and RSI
ASGI's RSI 14 Day stands at 34.07, ranking 321st. The company's Momentum Index 6 - 1 Month is -1.66, ranking 633rd. These figures suggest a bearish momentum for the stock.
Largest Guru Holding ASGI
The largest guru holding ASGI is Keeley-Teton Advisors, LLC (Trades, Portfolio). However, the exact share percentage held by Keeley-Teton Advisors, LLC (Trades, Portfolio) is not available.
Conclusion
In conclusion, Saba Capital Management, L.P.'s recent acquisition of additional shares in ASGI demonstrates the firm's confidence in the stock. Despite ASGI's low GF Score and bearish momentum, the firm's investment could potentially yield significant returns if ASGI's performance improves. This transaction is a noteworthy development for value investors and warrants close monitoring.
