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

Key Points

• Short interest more than doubled to 15,831 shares as of September 15, up 122.8% from August 31, though only 0.1% of outstanding shares are short.
• Institutional ownership stands at 22.22%, with several investors increasing positions; Royal Bank of Canada boosted its holdings by 227.5%.
• SABA shares rose 1.0% to $8.06, while the fund declared a monthly dividend of $0.058 per share, equivalent to an annualized yield of approximately 8.6%.

Saba Capital Income & Opportunities Fund II (NYSE:SABA - ) was the target of a large growth in short interest in September. As of September 15th, there was short interest totaling 15,831 shares, a growth of 122.8% from the August 31st total of 7,106 shares. Currently, 0.1% of the shares of the stock are short sold. Based on an average trading volume of 54,346 shares, the short-interest ratio is currently 0.3 days.

Institutional Trading of Saba Capital Income & Opportunities Fund II

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC bought a new position in shares of Saba Capital Income & Opportunities Fund II in the 2nd quarter worth $42,000. Doliver Advisors LP bought a new stake in Saba Capital Income & Opportunities Fund II during the 2nd quarter valued at $1,169,000. Flax Pond Capital LLC raised its holdings in Saba Capital Income & Opportunities Fund II by 5.9% during the first quarter. Flax Pond Capital LLC now owns 299,313 shares of the company's stock worth $2,490,000 after buying an additional 16,780 shares during the last quarter. Rivernorth Capital Management LLC increased its position in shares of Saba Capital Income & Opportunities Fund II by 2.4% during the first quarter. Rivernorth Capital Management LLC now owns 2,857,603 shares of the company's stock worth $23,775,000 after acquiring an additional 66,554 shares in the last quarter. Finally, Royal Bank of Canada raised its holdings in shares of Saba Capital Income & Opportunities Fund II by 227.5% in the 1st quarter. Royal Bank of Canada now owns 22,768 shares of the company's stock worth $189,000 after acquiring an additional 15,815 shares during the last quarter. 22.22% of the stock is owned by institutional investors.

Saba Capital Income & Opportunities Fund II Trading Up 1.0%

Shares of Saba Capital Income & Opportunities Fund II stock traded up $0.08 during midday trading on Friday, hitting $8.06. 36,759 shares of the company traded hands, compared to its average volume of 55,858. The firm's fifty day moving average price is $8.21 and its 200-day moving average price is $8.29. Saba Capital Income & Opportunities Fund II has a 12 month low of $7.80 and a 12 month high of $9.18.

Saba Capital Income & Opportunities Fund II Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 9th will be issued a dividend of $0.0580 per share. This represents a $0.70 dividend on an annualized basis and a yield of 8.6%. The ex-dividend date is Wednesday, September 9th.

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. Morgan Global Government Bond Index. Saba Capital Income & Opportunities Fund II was formed on March 17, 1988 and is domiciled in the United States.

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