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

Key Points

• Saba Capital Income & Opportunities Fund II (NYSE:SABA) experienced a significant increase in short interest, rising by 27.7% in August, resulting in a total of 18,000 shares shorted by mid-month.
• Institutional investors now hold 22.22% of the company's stock, with notable acquisitions in the fourth quarter from firms like Jefferies Financial Group and Comprehensive Money Management Services.
• The company declared a monthly dividend of $0.058 per share, reflecting a 7.6% annualized yield, set to be paid on September 30th.

Saba Capital Income & Opportunities Fund II (NYSE:SABA - ) saw a large growth in short interest in the month of August. As of August 15th, there was short interest totaling 18,000 shares, a growth of 27.7% from the July 31st total of 14,100 shares. Based on an average trading volume of 60,800 shares, the days-to-cover ratio is presently 0.3 days. Based on an average trading volume of 60,800 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Trading of Saba Capital Income & Opportunities Fund II

Hedge funds have recently added to or reduced their stakes in the company. Jefferies Financial Group Inc. acquired a new position in Saba Capital Income & Opportunities Fund II in the 4th quarter valued at $226,000. Shufro Rose & Co. LLC acquired a new position in Saba Capital Income & Opportunities Fund II in the 4th quarter valued at $122,000. Comprehensive Money Management Services LLC acquired a new position in Saba Capital Income & Opportunities Fund II in the 4th quarter valued at $1,001,000. Noble Wealth Management PBC raised its holdings in Saba Capital Income & Opportunities Fund II by 290.4% in the 1st quarter. Noble Wealth Management PBC now owns 65,009 shares of the company's stock valued at $566,000 after acquiring an additional 48,359 shares in the last quarter. Finally, Clear Creek Financial Management LLC acquired a new position in Saba Capital Income & Opportunities Fund II in the 1st quarter valued at $102,000. 22.22% of the stock is owned by institutional investors and hedge funds.

Saba Capital Income & Opportunities Fund II Stock Performance

NYSE:SABA traded down $0.05 during mid-day trading on Tuesday, hitting $9.22. 71,026 shares of the stock were exchanged, compared to its average volume of 78,067. The firm's 50-day simple moving average is $9.26 and its 200 day simple moving average is $8.90. 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 Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, September 30th. Investors of record on Wednesday, September 10th will be issued a dividend of $0.058 per share. This represents a c) annualized dividend and a yield of 7.6%. The ex-dividend date of this dividend is Wednesday, September 10th.

Saba Capital Income & Opportunities Fund II Company 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.

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