Saba Capital Income & Opportunities Fund:PPR

    Manage Alerts

    Overview

    As of 6/11/2021. NAV as of 6/4/2021.

     Share
    Price
    NAVPremium/
    Discount
    Current$4.67$4.95-5.66%
    52 Wk Avg$4.46$4.85-8.11%
    52 Wk High$4.71$4.97-5.05%
    52 Wk Low$4.00$4.61-13.83%
    Regular Distribution TypeIncome Only
    Distribution Rate1.80%
    Distribution Amount$0.0070
    Distribution FrequencyMonthly
    Past performance is no guarantee of future results.

    Basic Information

    Investment Objective

    Under normal market conditions, at least 80% of the Trusts net assets (plus borrowings for investment purposes) will be invested in Senior Loans. This investment policy may be changed without shareholder approval so long as the Trust provides its shareholders with at least 60 days prior notice of any changes in this investment policy. Under normal market conditions, the Trust invests at least 80% of its assets in Senior Loans made to corporations or other business entities organized under U.S. or Canadian law and that are domiciled in the United States and in U.S. territories and possessions or Canada. The Senior Loans in which the Trust invests either hold the most senior position in the capital structure of the borrower, hold an equal ranking with other senior debt, or have characteristics (such as a senior position secured by liens on a borrowers assets) that the Adviser or Sub-Adviser believes justify treatment as senior debt. These Senior Loans are typically below investment-grade credit quality. The Trust typically makes its investments in Senior Loans by purchasing a portion of the overall loan, i.e., the Trust becomes one of a number of lenders investing in the loan. The Trust may also make its investments in Senior Loans through the use of derivative instruments such as participations, credit-linked notes, credit default swaps, and total return swaps as long as the reference obligation for any such instrument is a Senior Loan. Investments through the use of such derivative instruments involve counterparty risk, i.e., the risk that the party from which such instrument is purchased will not perform as agreed. The Trust seeks to minimize such counterparty risk by purchasing such investments only from large, well established and highly rated counterparties.

    Capital Structure

    As of 6/11/2021

    Total Investment Exposure:$625.715M
    Total Common Assets:$603.115M
    Common Shares Outstanding:121,841,490
    Leverage

    As of 6/10/2021

    Preferred Share Assets:
    Total Debt (USD): $22.600M
    Regulatory Leverage (USD): $22.600M
    Effective Leverage (USD): $22.600M
    Effective Leverage (%): 3.61%
    Annual Expense Ratios

    As of 2/28/2021

      Per Common Share
    Management Fees1.37%
    Other Expenses:0.34%
    Baseline Expense: N/A
    Interest Expense:0.55%
    Total: 2.26%
    Fund Management

    Fund Sponsor
    Voya Investments, LLC

    Portfolio Managers
    Jeffrey A. Bakalar

    Basics
    Category: Fixed Income - Taxable-Senior Loans
    Ticker: PPR
    NAV Ticker: XPPRX
    Average Daily Volume (shares): 365,712
    Average Daily Volume (USD): $1.628M
    Inception Date: 5/12/1988
    Inception Share Price: $10.00
    Inception NAV: $0.00
    Tender Offer: No
    Term: No
    Fiscal Year End: February 28
    Third Party Links & Reports

    Distributions

    As of 6/11/2021

    Past performance is no guarantee of future results.
    Distribution History

    Enter declared start and end dates to display distribution history below. Income, Long Gain, Short Gain and ROC breakdowns will only be shown for the past year.

    Declared Date Payable Date Ex Date Distrib Amount Income Long Gain Short Gain ROC

    *Indicates a Special Distribution: A distribution disbursed in addition to the normal distributions paid out by the company.

    Key Information Regarding Distributions
    Avg. Earnings Per Share:
    As of 2/28/2021
    $0.0676
    Annualized Distribution Rate on NAV:
    As of 6/11/2021
    1.70%
    Total Return on NAV (12 months):
    As of 6/11/2021
    10.86%
    Avg. Portfolio Coupon:
    As of 6/11/2021
    1.56%
    Total % Portfolio Effectively Leveraged:
    As of 6/11/2021
    3.61%

    Pricing Information

    Premium/Discount Information
    Past performance is no guarantee of future results.
    Premium/Discount Information

    As of 6/11/2021

    PeriodAvg Discount
    6 Month-7.44%
    1 Year-8.11%
    3 Year-10.62%
    5 Year-9.47%
    Z-Score

    As of 6/11/2021

    PeriodZStat
    3 Month0.91
    6 Month1.25
    1 Year1.33
    Pricing History
    Date NAV Premium / Discount

    Performance

    Calendar Year Total Returns

    As of 5/31/2021
    Category: Morningstar US CEF Senior Loans

    Past 20 Years

    Return YearPriceNAVCategory - PriceCategory - NAV
    YTD5.95%2.14%13.26%5.04%
    2020-7.03%-6.29%0.14%1.12%
    201919.06%9.08%18.13%8.70%
    2018-6.05%-1.38%-7.68%-1.95%
    2017-3.26%2.55%3.80%5.83%
    201616.48%11.59%24.86%18.27%
    20151.50%-0.28%-3.65%-4.65%
    2014-2.87%2.31%-2.59%1.36%
    20130.43%9.01%3.18%9.08%
    201230.83%13.86%23.78%15.96%
    2011-5.19%-0.03%-4.49%1.82%
    201015.24%11.28%24.86%14.07%
    200971.27%78.70%89.99%79.89%
    2008-42.39%-47.42%  
    2007-6.47%-0.88%  
    200617.26%9.10%  
    2005-5.04%6.86%  
    2004-0.22%7.68%  
    200338.10%15.26%  
    2002-1.17%-1.49%  
    2001-3.31%-1.86%  
    Past performance is no guarantee of future results.
    Annualized Total Returns

    Returns for periods less than one year are cumulative rather than annualized

    As of 5/31/2021
    Category: Morningstar US CEF Senior Loans

    Past performance is no guarantee of future results.

    Portfolio Characteristics

    Portfolio Characteristics
    Average Coupon:
    As of 6/4/2021
    1.56%
    Number of Holdings:
    As of 5/31/2021
    302
    Annual Portfolio Turnover:
    As of 2/28/2021
    56.00%
    Asset Allocation

    As of 5/31/2021 reported by Fund Sponsor

    Top Sectors

    As of 5/31/2021 reported by Fund Sponsor

    Sector%Portfolio
    Corporate (Super Sector)55.36%
    Bank Loan54.90%
    Cash Equivalents (Super Sector)44.10%
    Cash Equivalents44.10%
    Corporate Bond0.27%
    Preferred Stock0.19%
    Communication Services0.09%
    Sensitive (Super Sector)0.09%
    Consumer Cyclical0.00%
    Cyclical (Super Sector)0.00%
    Top Holdings

    As of 5/31/2021 reported by Fund Sponsor

    HoldingValue% Portfolio
    Peer Holding B.V. 2018 Eur Term Loan B$4.46M0.78%
    SEDGWICK CLAIMS MGMT SVCS INC TERM LOAN B$3.92M0.68%
    NEXSTAR BROADCASTING INC 2019 TERM LOAN B4$3.78M0.66%
    BROOKFIELD RETAIL HLDGS VII SU TERM LOAN B$3.54M0.62%
    BAUSCH HEALTH COMPANIES INC. INITIAL TERM$3.13M0.55%
    HARBOR FREIGHT TOOLS USA INC 2020 TERM LOAN B$3.12M0.55%
    HUB INTL LTD TERM LOAN B 1$3.04M0.53%
    MH SUB I LLC AMENDMENT NO. 2 INITIAL TERM$2.95M0.52%
    ASSUREDPARTNERS INC 2020 TERM LOAN B$2.95M0.51%
    USI INC INCREMENTAL TERM LOAN B$2.88M0.50%
    Credit Quality

    As of 5/31/2021 reported by Fund Sponsor

    Maturity Breakdown

    As of 5/31/2021 reported by Fund Sponsor

    Country Allocation

    As of 5/31/2021 reported by Fund Sponsor

    Country% Portfolio
    United States - Equity0.10%
    United States - Fixed Income0.07%
    United Kingdom - Equity0.01%

    Closed-end fund historical distribution sources have included net investment income, realized gains, and return of capital. For more detailed information on the distributions of a specific fund, please visit the sponsor's website.

    NOTES:

    Distribution type sourced from Morningstar. For specific information about a fund's distribution sources, visit the fund sponsor's website.

    The following information applies to closed-end funds in general: Fund shares are not guaranteed or endorsed by any bank or other insured depository institution, and are not federally insured by the Federal Deposit Insurance Corporation. Shares of closed-end funds are subject to investment risks, including the possible loss of principal invested. There can be no assurance that fund objectives will be achieved. Closed-end funds frequently trade at a discount to their net asset value. NAV returns are net of fund expenses, and assume reinvestment of distributions.

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