In a recent transaction, Saba Capital Management, L.P., a significant shareholder, increased its stake in the NYLI CBRE (NYSE:CBRE) Global Infrastructure Megatrends Term Fund (NYSE:MEGI), a $659 million market cap fund known for its impressive 11.85% dividend yield. On January 2, the firm purchased 8,916 shares at a price of $12.38 per share, totaling $110,380. This acquisition brings Saba Capital’s total ownership in the fund to 5,784,729 shares.
The transaction, detailed in a Form 4 filing with the Securities and Exchange Commission, was signed by Zachary Gindes on behalf of Saba Capital Management and Boaz Weinstein. Both are listed as ten percent owners of the fund, indicating their substantial interest in the company’s performance and future prospects. According to InvestingPro, MEGI has maintained a consistent dividend increase for three consecutive years and currently holds a "GOOD" financial health rating, making it an interesting choice for income-focused investors.
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