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

Key Points

• Short interest jumped 21.5% to 14,882 shares as of April 15, roughly 0.1% of the stock, with a days-to-cover of just 0.2 based on average volume.
• Institutional investors increased positions — most notably Baird Financial (+101.2% to 99,116 shares) — and institutions now own 22.22% of the company's stock.
• The fund declared a monthly dividend of $0.058 per share (record/ex-dividend April 9, paid April 30), implying an annualized yield of about 8.2%, while shares recently traded around $8.45 (1‑year range $7.96–$9.46).

Saba Capital Income & Opportunities Fund II (NYSE:SABA - ) was the recipient of a significant growth in short interest in April. As of April 15th, there was short interest totaling 14,882 shares, a growth of 21.5% from the March 31st total of 12,245 shares. Approximately 0.1% of the company's stock are short sold. Based on an average trading volume of 68,068 shares, the days-to-cover ratio is currently 0.2 days.

Hedge Funds Weigh In On Saba Capital Income & Opportunities Fund II

A number of large investors have recently bought and sold shares of the business. Cetera Investment Advisers lifted its holdings in Saba Capital Income & Opportunities Fund II by 11.8% during the second quarter. Cetera Investment Advisers now owns 29,468 shares of the company's stock worth $271,000 after buying an additional 3,118 shares during the period. Baird Financial Group Inc. boosted its position in Saba Capital Income & Opportunities Fund II by 101.2% during the second quarter. Baird Financial Group Inc. now owns 99,116 shares of the company's stock valued at $911,000 after purchasing an additional 49,852 shares in the last quarter. Walleye Capital LLC boosted its position in Saba Capital Income & Opportunities Fund II by 6.2% during the second quarter. Walleye Capital LLC now owns 25,011 shares of the company's stock valued at $230,000 after purchasing an additional 1,468 shares in the last quarter. Raymond James Financial Inc. grew its stake in Saba Capital Income & Opportunities Fund II by 2.9% in the second quarter. Raymond James Financial Inc. now owns 71,402 shares of the company's stock valued at $656,000 after purchasing an additional 1,997 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in Saba Capital Income & Opportunities Fund II by 35.2% in the second quarter. Bank of America Corp DE now owns 20,549 shares of the company's stock worth $189,000 after purchasing an additional 5,348 shares in the last quarter. Institutional investors own 22.22% of the company's stock.

Saba Capital Income & Opportunities Fund II Trading Down 0.1%

Shares of Saba Capital Income & Opportunities Fund II stock opened at $8.45 on Thursday. The firm's 50-day moving average is $8.25 and its two-hundred day moving average is $8.42. Saba Capital Income & Opportunities Fund II has a 1 year low of $7.96 and a 1 year high of $9.46.

Saba Capital Income & Opportunities Fund II Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Thursday, April 9th will be paid a dividend of $0.058 per share. The ex-dividend date is Thursday, April 9th. This represents a c) dividend on an annualized basis and a dividend yield of 8.2%.

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. 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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