Saba Capital Income & Opportunities Fund II (NYSE:SABA) Trading Down 0.1% - Here's What Happened

Key Points

• Saba Capital Income & Opportunities Fund II shares edged down 0.1% on Wednesday, trading between $8.29 and $8.3350 on volume of 39,231 shares, below its average daily volume.
• The fund recently ঘোষণাounced a monthly dividend of $0.058 per share, payable on July 31 to shareholders of record on July 9, implying an annualized yield of about 8.4%.
• Institutional ownership has been active, with several firms increasing stakes in the second quarter; overall, hedge funds and other institutions own 22.22% of the stock.

Saba Capital Income & Opportunities Fund II (NYSE:SABA - ) shares traded down 0.1% on Wednesday . The stock traded as low as $8.29 and last traded at $8.3350. 39,231 shares changed hands during trading, a decline of 35% from the average daily volume of 60,242 shares. The stock had previously closed at $8.34.

Saba Capital Income & Opportunities Fund II Trading Down 0.1%

The stock's fifty day simple moving average is $8.34 and its 200-day simple moving average is $8.28.

Saba Capital Income & Opportunities Fund II Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, July 31st. Stockholders of record on Thursday, July 9th will be given a dividend of $0.058 per share. The ex-dividend date of this dividend is Thursday, July 9th. This represents a c) dividend on an annualized basis and a dividend yield of 8.4%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Cetera Investment Advisers grew its stake in Saba Capital Income & Opportunities Fund II by 11.8% during the 2nd quarter. Cetera Investment Advisers now owns 29,468 shares of the company's stock worth $271,000 after purchasing an additional 3,118 shares in the last quarter. Baird Financial Group Inc. raised its position in Saba Capital Income & Opportunities Fund II by 101.2% in the 2nd 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 stake in shares of Saba Capital Income & Opportunities Fund II by 6.2% in the 2nd quarter. Walleye Capital LLC now owns 25,011 shares of the company's stock valued at $230,000 after buying an additional 1,468 shares during the period. Raymond James Financial Inc. boosted its stake in shares of Saba Capital Income & Opportunities Fund II by 2.9% in the 2nd quarter. Raymond James Financial Inc. now owns 71,402 shares of the company's stock valued at $656,000 after buying an additional 1,997 shares during the period. Finally, Bank of America Corp DE grew its position in shares of Saba Capital Income & Opportunities Fund II by 35.2% during the second quarter. Bank of America Corp DE now owns 20,549 shares of the company's stock worth $189,000 after buying an additional 5,348 shares in the last quarter. 22.22% of the stock is currently owned by hedge funds and other institutional investors.

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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