Saba Capital Management, L.P. Increases Stake in PIMCO Energy & Tactical Credit Opportunities
On September 21, 2023, Saba Capital Management, L.P. (Trades, Portfolio), a New York-based investment firm, added 89,315 shares of PIMCO Energy & Tactical Credit Opportunities (NYSE:NRGX) to its portfolio. The transaction, executed at a price of $17.19 per share, increased the firm's total holdings in NRGX to 6,553,124 shares. This addition had a 0.04% impact on the firm's portfolio and increased its position in NRGX to 14.66%.
About Saba Capital Management, L.P. (Trades, Portfolio)
Saba Capital Management, L.P. (Trades, Portfolio) is a prominent investment firm located at 405 Lexington Avenue, New York. The firm manages a diverse portfolio of 624 stocks, with a total equity of $3.84 billion. Its 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). The firm's investment strategy primarily focuses on the Financial Services and Technology sectors.
Overview of PIMCO Energy & Tactical Credit Opportunities
PIMCO Energy & Tactical Credit Opportunities (NYSE:NRGX) is a non-diversified, limited term closed-end management investment company based in the USA. The company operates in a single segment and primarily aims to provide high current income and total return. As of September 23, 2023, the company has a market capitalization of $762.701 million and a stock price of $17.06.
The company's PE Percentage stands at 4.13, indicating its profitability. The GF Score of NRGX is 39/100, suggesting its future performance potential. The company's Balance Sheet Rank, Profitability Rank, and Growth Rank are 4/10, 2/10, and 0/10 respectively.
Financial Health of NRGX
The financial health of NRGX can be evaluated using several key metrics. The company's Piotroski F-Score is 7, indicating a healthy financial situation. However, the company's Altman Z Score is 0.00, and its Cash to Debt ratio is 0.01, suggesting potential financial risks. The company's ROE and ROA, which measure its efficiency in generating profits, are 24.02 and 17.98 respectively.
Momentum of NRGX
The momentum of NRGX can be assessed using its RSI and Momentum Index values. The company's RSI 5 Day, RSI 9 Day, and RSI 14 Day are 48.45, 50.04, and 51.96 respectively, indicating the stock's momentum. The company's Momentum Index 6 - 1 Month and Momentum Index 12 - 1 Month are 22.09 and 17.31 respectively.
Conclusion
In conclusion, Saba Capital Management, L.P. (Trades, Portfolio)'s recent acquisition of NRGX shares represents a strategic move that aligns with the firm's investment philosophy. The transaction has increased the firm's stake in NRGX and has the potential to influence the stock's performance. Value investors may find this information useful in making informed investment decisions. As always, it is crucial to conduct thorough research and consider various factors before investing.
This article first appeared on GuruFocus.
