Saba Capital Management, L.P. Boosts Stake in PIMCO Energy & Tactical Credit Opportunities
On October 24, 2023, Saba Capital Management, L.P. (Trades, Portfolio) added 703,0222 shares of PIMCO Energy & Tactical Credit Opportunities (NYSE:NRGX) to its portfolio. The transaction, which saw a trade share change of 511, was executed at a trade price of $19 per share. Despite the trade change of 0.01, the trade had no significant impact on the firm's portfolio. The firm now holds a 15.72% stake in NRGX, representing 3.48% of its total portfolio.
About Saba Capital Management, L.P. (Trades, Portfolio)
Saba Capital Management, L.P. (Trades, Portfolio), a New York-based firm, manages a diverse portfolio of 624 stocks. The firm's top holdings include Templeton Global Income Fund(NYSE:GIM), BlackRock Capital Allocation Trust(NYSE:BCAT), BlackRock Health Sciences Trust II(NYSE:BMEZ), BlackRock Innovation & Growth Tr(NYSE:BIGZ), and BlackRock ESG Capital Allocation Trust(NYSE:ECAT). With an equity of $3.84 billion, the firm's investments are primarily concentrated in the Financial Services and Technology sectors.
Overview of PIMCO Energy & Tactical Credit Opportunities
PIMCO Energy & Tactical Credit Opportunities (NYSE:NRGX), a US-based asset management company, operates as a non-diversified, limited term closed-end management investment company. The company's primary objective is to seek total return, with a secondary objective to provide high current income. As of October 26, 2023, the company has a market cap of $845.856 million and a stock price of $18.92. The company's PE percentage stands at 4.59. However, due to insufficient data, the GF Valuation and GF Value could not be evaluated.
Performance and Financial Health of NRGX
Since its IPO, NRGX has experienced a price change of -5.4%. However, the stock has gained 29.59% year-to-date. The stock's GF Score is 40/100, indicating a poor future performance potential. In terms of financial strength, NRGX has a balance sheet rank of 4/10, a profitability rank of 2/10, and a growth rank of 0/10. The company's Piotroski F-Score is 7, indicating a healthy financial situation.
Growth Metrics and Momentum of NRGX
Due to insufficient data, the growth metrics of NRGX, including gross margin growth, operating margin growth, and 3-year growth in revenue, EBITDA, and earnings, could not be evaluated. However, the stock's momentum rank is 10/10, indicating strong momentum. The stock's RSI 5 Day, RSI 9 Day, and RSI 14 Day are 41.79, 50.87, and 54.68 respectively, with the RSI 14 Day rank standing at 1634.
Implications of the Transaction
The acquisition of additional shares in NRGX by Saba Capital Management, L.P. (Trades, Portfolio) signifies the firm's confidence in the stock's potential. Despite the stock's poor GF Score and growth rank, its strong momentum and healthy financial situation could offer potential returns for value investors. However, investors should conduct thorough research and consider the stock's performance metrics before making investment decisions.
All data and rankings are accurate as of October 26, 2023.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
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