Activist investor Saba Capital has nearly doubled its stake in the Herald investment trust (HRI) and increased its holding in Edinburgh Worldwide (EWIT).
According to the latest disclosures, the firm has increased its Herald holding from 5.3% on 20 September to 10.11% on 24 October, while its stake in Edinburgh Worldwide is now 11.01%, up from 10.03% on 17 October. Herald is currently trading at a 14.8% discount to net asset value, while Edinburgh Worldwide trades at a 14.3% discount, according to the Association of Investment Companies. Saba Capital eyes $500m for activist UK investment trust fund The firm has been building up stakes in UK investment trusts in the last 18 months, including European Opportunities, Henderson Opportu...
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