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In recent trading activity, Saba Capital Management, L.P. has acquired additional shares in the NYLI CBRE (NYSE:CBRE) Global Infrastructure Megatrends Term Fund (NYSE:MEGI). According to a recent SEC filing, Saba Capital purchased 4,999 shares of common stock at a price of $12.49 per share, totaling approximately $62,437. This transaction increases Saba Capital’s holdings in the fund to 5,789,728 shares. The fund, with a market capitalization of $651 million, currently offers an attractive dividend yield of ~12% and has maintained dividend increases for three consecutive years, according to InvestingPro.
The transaction was reported by Boaz Weinstein and Saba Capital Management, both identified as ten percent owners of the fund. The acquisition reflects continued interest and investment in the fund, which focuses on infrastructure megatrends.
Investors will be watching closely to see how these transactions might influence the fund’s performance and strategy going forward.
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