An activist investor battle between GAMCO Investors and Saba Capital Management is unfolding in the closed-end fund (CEF) space, potentially impacting discounts on high-yield funds. GAMCO aims to place its Gabelli Utility Trust (GUT) vice-president on the boards of two Saba funds to help convert their current discounts into premiums. However, GUT itself trades at a high premium and has underperformed its benchmark, making it a risky investment. The article suggests a better strategy is to invest in undervalued equity CEFs with strong cash flows and wide discounts, which are more likely to attract activist interest and unlock value for investors.
Halper Sadeh LLC is investigating whether shareholders of NextEra Energy (NEE), Corebridge Financial (CRBG), RE/MAX Holdings (RMAX), and Apogee Therapeutics (APGE) are receiving fair deals in their companies' proposed mergers or sales. The firm highl...
Holtec International's Palisades nuclear reactor in Michigan is nearing operational restart after being shut down and entering decommissioning in 2022, marking the first U.S. plant to attempt such a turnaround. This restart, along with similar projec...
Despite a selloff in AI-related stocks, the S&P 500 rose 1.23% in July, showing market resilience. Investor Amrita Roy increased holdings in Meta, Mercado Libre, and GE Vernova, citing strong growth prospects and company-specific strengths like Meta'...
NextEra Energy is approaching its Q2 earnings with a significant development: the acquisition of Dominion, which expands its geographic reach and exposure to data centers but introduces regulatory uncertainty. Key growth drivers remain backlog growth...
