Short Interest in Saba Closed-End Funds ETF (BATS:CEFS) Rises By 67.7%

Saba Closed-End Funds ETF (BATS:CEFS) saw a large growth in short interest in the month of July. As of July 15th, there was short interest totaling 162,481 shares, a growth of 67.7% from the June 30th total of 96,886 shares. Currently, 1.2% of the shares of the company are sold short. Based on an average trading volume of 74,153 shares, the days-to-cover ratio is presently 2.2 days.

Hedge Funds Weigh In On Saba Closed-End Funds ETF

Large investors have recently modified their holdings of the company. SHP Wealth Management bought a new stake in Saba Closed-End Funds ETF during the fourth quarter valued at $43,000. NBC Securities Inc. lifted its position in Saba Closed-End Funds ETF by 14.6% in the 4th quarter. NBC Securities Inc. now owns 6,440 shares of the company’s stock worth $148,000 after buying an additional 821 shares during the last quarter. Anfield Capital Management LLC lifted its holdings in shares of Saba Closed-End Funds ETF by 32.1% in the 4th quarter. Anfield Capital Management LLC now owns 7,429 shares of the company’s stock worth $171,000 after acquiring an additional 1,806 shares during the last quarter. Encompass More Asset Management purchased a new stake in Saba Closed-End Funds ETF during the fourth quarter valued at about $216,000. Finally, Closed End Fund Advisors Inc. purchased a new stake in Saba Closed-End Funds ETF during the 4th quarter valued at about $241,000.

Saba Closed-End Funds ETF Stock Up 1.4%

Shares of BATS:CEFS opened at $24.77 on Friday. The firm has a market capitalization of $329.44 million, a PE ratio of 21.88 and a beta of 0.72. The company has a 50-day moving average price of $25.32 and a two-hundred day moving average price of $24.12. Saba Closed-End Funds ETF has a twelve month low of $22.05 and a twelve month high of $25.98.

Saba Closed-End Funds ETF Company Profile

The Saba Closed-End Funds ETF (CEFS) is an exchange-traded fund that mostly invests in target outcome asset allocation. The fund is an actively managed fund-of-funds that seeks to generate high income by investing in closed-end funds trading at a discount to net asset value and hedging for duration risk. CEFS was launched on Mar 21, 2017 and is managed by Saba.