Saba Capital Management, L.P., a prominent investment firm based in New York, has recently expanded its portfolio by acquiring additional shares in Templeton Global Income Fund (GIM, Financial). This article provides an in-depth analysis of the transaction, the guru's profile, and the traded company's basic information. The data and rankings are accurate as of August 19, 2023.
Details of the Transaction
On August 16, 2023, Saba Capital Management, L.P. added 186,271 shares of Templeton Global Income Fund to its portfolio. The shares were purchased at a price of $4.08 each. This transaction increased the firm's total holdings in GIM to 34,773,174 shares, representing 33.84% of the guru's holdings in the traded stock. The traded stock now occupies a 3.7% position in the guru's portfolio, with a trade impact of 0.02.
Profile of the Guru
Saba Capital Management, L.P., located at 405 Lexington Avenue, New York, NY 10174, is a renowned investment firm with a diverse portfolio. The firm currently holds 624 stocks, with a total equity of $3.84 billion. Its top holdings include Templeton Global Income Fund(GIM, Financial), BlackRock Capital Allocation Trust(BCAT, Financial), BlackRock Health Sciences Trust II(BMEZ, Financial), BlackRock Innovation & Growth Tr(BIGZ, Financial), and BlackRock ESG Capital Allocation Trust(ECAT, Financial). The firm primarily invests in the Financial Services and Technology sectors.
Information about the Traded Stock
Templeton Global Income Fund (GIM, Financial) is a USA-based closed-end fund. It primarily seeks high current income, with a secondary goal of capital appreciation. The fund invests at least 80% of its net assets in income-producing securities, including debt securities of the United States and foreign issuers, including emerging markets. The company's market capitalization stands at $410.988 million, with a current stock price of $4. The company's GF-Score is 40/100, indicating a poor future performance potential. The company's Financial Strength is ranked 8/10, while its Profitability Rank is 2/10. The company's Growth Rank and GF Value Rank are both 0/10, indicating no enough data to calculate it.
Conclusion
The recent acquisition by Saba Capital Management, L.P. has further solidified its position in Templeton Global Income Fund. Despite the traded stock's poor future performance potential and low profitability rank, the firm's decision to increase its stake could be based on other factors not captured by these metrics. The transaction's impact on the stock and the guru's portfolio will be closely monitored in the coming months. As always, investors are advised to conduct their own comprehensive analysis before making investment decisions.
