As stated on the website investing.com, The New America High Income Fund Inc. (NYSE: HYB) is said to have disclosed information regarding a dividend on December 21st. On Tuesday, January 31st, the investment management organization will make a dividend payment of $0.052 per share to stockholders who were recorded as having ownership as of Friday, December 30th. This payment will be made to stockholders who had ownership as of Friday, December 30th. As a direct result, the dividend yield currently stands at 9.08%. The dividend will be withheld from shareholder accounts on Thursday, December 29th. The New America High Income Fund had previously distributed dividends totaling $0.05 per share; this new amount represents an increase from that payout.
Over the past three years, the New America High Income Fund has reduced its dividend payments, leading to a fall in value equal to an annualized decrease of an average of 0.5 percent.
On Wednesday, the cost of purchasing a share of HYB stock was $6.63 per share. In the past year, the New America High Income Fund had a low point of $6.24 and a high point of $9.50. These prices reflect the fund’s high and low points, respectively. In addition, the price of the stock’s moving average over the last 50 days is $6.77; over the last 200 days, it has been $6.98.
Several hedge funds and other institutional investors have adjusted how they invest in the company over the past few months. During the first three months of the year, Saba Capital Management L.P. invested approximately $595k into The New America High Income Fund, which increased the firm’s stake in the fund. Baird Financial Group Inc. made the purchase that ultimately led to the acquisition of the New America High Income Fund for approximately $498,000. This transaction took place during the first quarter. Raymond James & Associates increased the proportion of The New America High Income Fund in which it is invested by 6.6% over the first three months of 2018. Raymond James & Associates has 26,293 shares of the investment management company’s stock, which are currently valued at $213,000 after purchasing an additional 1,625 shares during the most recent quarter. Bank of America Corp. (D.E.) increased the percentage of its holdings in The New America High Income Fund by 20.4% over the first three months of 2018. Bank of America Corp. (D.E.) now has 22,270 shares of the investment management company’s stock, which are currently valued at $180,000 after purchasing an additional 3,773 shares during the most recent quarter. This brings the total number of shares owned by the company to 22,270. And finally, during the third quarter, the Royal Bank of Canada invested 7.6% more money in The New America High Income Fund than it did in the previous quarter. The Royal Bank of Canada has increased its holdings in the stock of the investment management business by 14,345 shares, bringing its total number of shares to 21,982, which are currently valued at $143,000. This brings the total number of Royal Bank of Canada shares to 21,982. To the tune of 22.56% of the company’s stock, institutional investors and hedge funds are the proud owners of its shares.
The New America High Income Fund, Inc. is a closed-ended fixed-income mutual fund, and T. Rowe Price Associates, Inc. is the company responsible for establishing the fund, and that now manages the fund. The majority of the fund’s assets are invested in the fixed-income markets that are found in the United States. In addition, it is considering investing in the equity of companies operating in various industries as part of its business strategy. The fund makes investments in a variety of high-yield fixed-income instruments, such as corporate bonds and other fixed-income investments, among other such investments.
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