Saba Closed-End Funds ETF (BATS:CEFS) Stock Short Interest Declines 56.5%

Saba Closed-End Funds ETF (BATS:CEFS) saw a large decrease in short interest during the month of October. As of October 15th, there was short interest totaling 56,577 shares, a decrease of 56.5% from the September 30th total of 130,180 shares. Based on an average trading volume of 90,597 shares, the short-interest ratio is presently 0.6 days. Approximately 0.4% of the shares of the stock are sold short.

Saba Closed-End Funds ETF Stock Down 1.5%

CEFS opened at $24.00 on Friday. The firm has a market cap of $319.20 million, a PE ratio of 21.88 and a beta of 0.72. The business has a fifty day simple moving average of $24.70 and a 200-day simple moving average of $24.36. Saba Closed-End Funds ETF has a fifty-two week low of $22.05 and a fifty-two week high of $25.98.

Saba Closed-End Funds ETF Increases Dividend

The business also recently announced a monthly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Monday, September 28th were given a dividend of $0.2460 per share. This represents a $2.95 dividend on an annualized basis and a dividend yield of 12.3%. This is a boost from Saba Closed-End Funds ETF’s previous monthly dividend of $0.14. The ex-dividend date of this dividend was Monday, September 28th.

Hedge Funds Weigh In On Saba Closed-End Funds ETF

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Integrated Wealth Concepts LLC acquired a new position in shares of Saba Closed-End Funds ETF in the second quarter worth about $221,000. First Heartland Consultants Inc. increased its position in shares of Saba Closed-End Funds ETF by 10.5% in the second quarter. First Heartland Consultants Inc. now owns 10,416 shares of the company’s stock worth $267,000 after acquiring an additional 987 shares in the last quarter. Private Advisor Group LLC increased its position in shares of Saba Closed-End Funds ETF by 6.0% in the first quarter. Private Advisor Group LLC now owns 16,454 shares of the company’s stock worth $371,000 after acquiring an additional 933 shares in the last quarter. Integrated Advisors Network LLC acquired a new stake in shares of Saba Closed-End Funds ETF during the third quarter valued at approximately $483,000. Finally, Unified Investment Management raised its holdings in shares of Saba Closed-End Funds ETF by 2.5% during the first quarter. Unified Investment Management now owns 21,081 shares of the company’s stock valued at $475,000 after acquiring an additional 509 shares during the period.

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.