Saba Capital Management, L.P., a significant shareholder in abrdn Global Infrastructure Income Fund (NYSE:ASGI), reported the sale of shares valued at approximately $1.38 million. The transactions occurred over two days, with 41,476 shares sold on November 19 at $19.69 per share and an additional 28,478 shares sold on November 20 at $19.71 per share. Following these sales, Saba Capital Management holds 2,856,676 shares of the fund. The transactions were disclosed in a recent SEC filing.
InvestingPro Insights
While Saba Capital Management has reduced its position in abrdn Global Infrastructure Income Fund (NYSE:ASGI), individual investors might find the fund’s current metrics intriguing. According to InvestingPro data, ASGI boasts a substantial dividend yield of 12.88% for 2024, 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 $572.23 million, and it’s trading at a P/E ratio of 14.58, which may be considered attractive by some investors. Moreover, ASGI has demonstrated strong performance, with a year-to-date price total return of 21.67% and a one-year price total return of 29.87% as of the latest data.
Another InvestingPro Tip highlights that ASGI is currently “trading near its 52-week high,” which is supported by the data showing the price is at 96.46% of its 52-week high. This could indicate positive investor sentiment towards the fund.
For investors seeking more comprehensive analysis, InvestingPro offers additional tips and insights beyond what’s mentioned here. In fact, there are 5 more InvestingPro Tips available for ASGI, which could provide valuable context for those considering an investment in this infrastructure income fund.
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