Saba Capital Income & Opportunities Fund II (NYSE:SABA) Short Interest Update

Key Points

• Short interest fell 51.3% to 10,830 shares as of July 31, representing approximately 0.0% of outstanding shares and a short-interest ratio of 0.3 days.
• Institutional ownership stands at 22.22%, with several investors increasing their positions; Rivernorth Capital Management remains a major holder with 2.86 million shares.
• SABA shares slipped 0.3% to $8.24, while the fund declared a $0.058 monthly dividend, implying an annualized yield of about 8.4%.

Saba Capital Income & Opportunities Fund II (NYSE:SABA - ) saw a significant decrease in short interest in July. As of July 31st, there was short interest totaling 10,830 shares, a decrease of 51.3% from the July 15th total of 22,235 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 32,778 shares, the short-interest ratio is presently 0.3 days.

Institutional Investors Weigh In On Saba Capital Income & Opportunities Fund II

Several hedge funds have recently added to or reduced their stakes in SABA. Doliver Advisors LP acquired a new position in Saba Capital Income & Opportunities Fund II in the 2nd quarter valued at approximately $1,169,000. Flax Pond Capital LLC grew its stake in shares of Saba Capital Income & Opportunities Fund II by 5.9% in the first quarter. Flax Pond Capital LLC now owns 299,313 shares of the company's stock worth $2,490,000 after purchasing an additional 16,780 shares during the last quarter. Rivernorth Capital Management LLC increased its holdings in Saba Capital Income & Opportunities Fund II by 2.4% in the first quarter. Rivernorth Capital Management LLC now owns 2,857,603 shares of the company's stock valued at $23,775,000 after purchasing an additional 66,554 shares during the period. Royal Bank of Canada raised its position in Saba Capital Income & Opportunities Fund II by 227.5% during the 1st quarter. Royal Bank of Canada now owns 22,768 shares of the company's stock worth $189,000 after purchasing an additional 15,815 shares during the last quarter. Finally, Private Advisor Group LLC lifted its holdings in Saba Capital Income & Opportunities Fund II by 10.1% during the 1st quarter. Private Advisor Group LLC now owns 87,448 shares of the company's stock worth $728,000 after buying an additional 8,000 shares during the period. 22.22% of the stock is currently owned by institutional investors and hedge funds.

Saba Capital Income & Opportunities Fund II Stock Down 0.3%

Shares of SABA traded down $0.03 during trading hours on Friday, reaching $8.24. The stock had a trading volume of 29,904 shares, compared to its average volume of 30,292. Saba Capital Income & Opportunities Fund II has a 12 month low of $7.96 and a 12 month high of $9.36. The company's 50-day moving average is $8.29 and its two-hundred day moving average is $8.28.

Saba Capital Income & Opportunities Fund II Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Tuesday, August 11th will be paid a dividend of $0.058 per share. This represents a c) dividend on an annualized basis and a dividend yield of 8.4%. The ex-dividend date of this dividend is Tuesday, August 11th.

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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