Scotia Capital Inc. Grows Stock Position in Saba Capital Income & Opportunities Fund II (NYSE:SABA)

Key Points

• Scotia Capital Inc. increased its holdings in Saba Capital Income & Opportunities Fund II by 19.1% in Q1, owning 274,595 shares valued at approximately $2.39 million.
• Wells Fargo & Company MN significantly boosted its stake in the fund by 933.7%, now holding 716,776 shares worth about $6.49 million.
• The fund announced a dividend of $0.058 per share, with a dividend yield of 740.0%, payable on August 29th to investors of record on August 11th.

Scotia Capital Inc. lifted its stake in shares of Saba Capital Income & Opportunities Fund II (NYSE:SABA - Free Report) by 19.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 274,595 shares of the company's stock after buying an additional 44,116 shares during the quarter. Scotia Capital Inc. owned approximately 0.85% of Saba Capital Income & Opportunities Fund II worth $2,389,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in SABA. US Bancorp DE acquired a new position in Saba Capital Income & Opportunities Fund II in the first quarter valued at approximately $35,000. Clear Creek Financial Management LLC acquired a new stake in shares of Saba Capital Income & Opportunities Fund II in the first quarter valued at approximately $102,000. Shufro Rose & Co. LLC acquired a new stake in shares of Saba Capital Income & Opportunities Fund II in the fourth quarter valued at approximately $122,000. K2 Principal Fund L.P. boosted its holdings in shares of Saba Capital Income & Opportunities Fund II by 15.0% in the fourth quarter. K2 Principal Fund L.P. now owns 23,000 shares of the company's stock valued at $208,000 after acquiring an additional 3,000 shares during the period. Finally, Jefferies Financial Group Inc. acquired a new stake in shares of Saba Capital Income & Opportunities Fund II in the fourth quarter valued at approximately $226,000. 22.22% of the stock is owned by institutional investors and hedge funds.

Saba Capital Income & Opportunities Fund II Price Performance

Shares of SABA stock traded up $0.01 during trading hours on Friday, hitting $9.32. The stock had a trading volume of 15,183 shares, compared to its average volume of 71,149. Saba Capital Income & Opportunities Fund II has a twelve month low of $7.72 and a twelve month high of $9.46. The stock's 50 day moving average is $9.14 and its 200 day moving average is $8.89.

Saba Capital Income & Opportunities Fund II Dividend Announcement

The company also recently disclosed a aug 25 dividend, which will be paid on Friday, August 29th. Stockholders of record on Monday, August 11th will be issued a $0.058 dividend. This represents a dividend yield of 740.0%. The ex-dividend date of this dividend is Monday, August 11th.

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.