Shaker Financial Services LLC Raises Stake in Saba Capital Income & Opportunities Fund II (NYSE:SABA)

Key Points

• Shaker Financial Services LLC has increased its stake in Saba Capital Income & Opportunities Fund II by 41.0%, now owning 252,519 shares valued at approximately $2.2 million.
• Institutional investors collectively own 22.22% of Saba Capital Income & Opportunities Fund II, indicating significant interest from the investment community.
• Saba Capital Income & Opportunities Fund II announced a dividend of $0.058 per share, with a remarkable 740.0% dividend yield.

Shaker Financial Services LLC increased its holdings in shares of Saba Capital Income & Opportunities Fund II (NYSE:SABA - Free Report) by 41.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 252,519 shares of the company's stock after purchasing an additional 73,410 shares during the period. Shaker Financial Services LLC owned approximately 0.78% of Saba Capital Income & Opportunities Fund II worth $2,197,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. Envestnet Asset Management Inc. increased its holdings in Saba Capital Income & Opportunities Fund II by 27.3% in the first quarter. Envestnet Asset Management Inc. now owns 889,377 shares of the company's stock valued at $7,738,000 after buying an additional 190,886 shares in the last quarter. Kovitz Investment Group Partners LLC increased its holdings in Saba Capital Income & Opportunities Fund II by 9.5% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 757,297 shares of the company's stock valued at $6,861,000 after buying an additional 65,881 shares in the last quarter. Wells Fargo & Company MN increased its holdings in Saba Capital Income & Opportunities Fund II by 933.7% in the fourth quarter. Wells Fargo & Company MN now owns 716,776 shares of the company's stock valued at $6,494,000 after buying an additional 647,432 shares in the last quarter. Invesco Ltd. increased its holdings in Saba Capital Income & Opportunities Fund II by 5.3% in the fourth quarter. Invesco Ltd. now owns 400,236 shares of the company's stock valued at $3,626,000 after buying an additional 20,227 shares in the last quarter. Finally, Scotia Capital Inc. increased its holdings in Saba Capital Income & Opportunities Fund II by 19.1% in the first quarter. Scotia Capital Inc. now owns 274,595 shares of the company's stock valued at $2,389,000 after buying an additional 44,116 shares in the last quarter. Hedge funds and other institutional investors own 22.22% of the company's stock.

Saba Capital Income & Opportunities Fund II Stock Up 0.1%

Shares of NYSE SABA traded up $0.01 during trading on Friday, hitting $9.32. The company had a trading volume of 15,183 shares, compared to its average volume of 71,149. The stock has a fifty day simple moving average of $9.14 and a two-hundred day simple moving average of $8.89. Saba Capital Income & Opportunities Fund II has a fifty-two week low of $7.72 and a fifty-two week high of $9.46.

Saba Capital Income & Opportunities Fund II Announces Dividend

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

Saba Capital Income & Opportunities Fund II Profile

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.