Saba Capital Income & Opportunities Fund II (NYSE:SABA) Sees Significant Drop in Short Interest

Saba Capital Income & Opportunities Fund II (NYSE:SABA) saw a significant drop in short interest in the month of September. As of September 30th, there was short interest totalling 46,000 shares, a drop of 37.1% from the September 15th total of 73,100 shares. Based on an average daily volume of 97,600 shares, the short-interest ratio is presently 0.5 days.

Saba Capital Income & Opportunities Fund II Stock Performance

Shares of NYSE SABA traded up $0.03 during trading hours on Monday, hitting $8.65. 21,642 shares of the stock were exchanged, compared to its average volume of 115,384. The company’s fifty day simple moving average is $8.44 and its two-hundred day simple moving average is $7.96. Saba Capital Income & Opportunities Fund II has a 1-year low of $7.28 and a 1-year high of $8.73.

Saba Capital Income & Opportunities Fund II Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Wednesday, October 9th will be paid a $0.058 dividend. The ex-dividend date is Wednesday, October 9th. This represents a $0.70 annualized dividend and a dividend yield of 8.05%.

Insider Transactions at Saba Capital Income & Opportunities Fund II

In other Saba Capital Income & Opportunities Fund II news, major shareholder Saba Capital Management, L.P. sold 70,046 shares of the stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $8.38, for a total transaction of $586,985.48. Following the transaction, the insider now owns 3,346,812 shares in the company, valued at $28,046,284.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders have sold 95,632 shares of company stock worth $804,304. Company insiders own 5.62% of the company’s stock.

Institutional Trading of Saba Capital Income & Opportunities Fund II

Large investors have recently bought and sold shares of the business. Envestnet Asset Management Inc. bought a new position in shares of Saba Capital Income & Opportunities Fund II in the 2nd quarter valued at $2,833,000. Fiera Capital Corp bought a new stake in shares of Saba Capital Income & Opportunities Fund II during the second quarter worth about $797,000. Prevail Innovative Wealth Advisors LLC acquired a new position in shares of Saba Capital Income & Opportunities Fund II in the second quarter valued at approximately $768,000. Choreo LLC bought a new position in Saba Capital Income & Opportunities Fund II in the 2nd quarter valued at approximately $701,000. Finally, Farther Finance Advisors LLC acquired a new stake in Saba Capital Income & Opportunities Fund II during the 2nd quarter worth approximately $521,000. 22.22% of the stock is owned by institutional investors and hedge funds.

About Saba Capital Income & Opportunities Fund II

Saba Capital Income & Opportunities Fund II is a closed-ended fixed income mutual fund launched and managed by Saba Capital Management, L.P. The fund invests in fixed income markets across the globe. It primarily invests in government bonds. The fund is actively managed. It benchmarks the performance of its portfolio against the J.P.