Saba Capital Income & Opportunities Fund II (NYSE:SABA) Short Interest Up 501.6% in April

Saba Capital Income & Opportunities Fund II (NYSE:SABA - Get Free Report) was the recipient of a significant increase in short interest in April. As of April 15th, there was short interest totalling 114,900 shares, an increase of 501.6% from the March 31st total of 19,100 shares. Based on an average daily volume of 84,800 shares, the days-to-cover ratio is currently 1.4 days. Currently, 0.4% of the shares of the company are short sold.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SABA. Envestnet Asset Management Inc. raised its stake in Saba Capital Income & Opportunities Fund II by 27.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 889,377 shares of the company's stock valued at $7,738,000 after buying an additional 190,886 shares during the last quarter. Clear Creek Financial Management LLC bought a new stake in shares of Saba Capital Income & Opportunities Fund II in the first quarter worth $102,000. Comprehensive Money Management Services LLC increased its position in Saba Capital Income & Opportunities Fund II by 1.7% during the first quarter. Comprehensive Money Management Services LLC now owns 112,314 shares of the company's stock valued at $977,000 after acquiring an additional 1,846 shares during the last quarter. Noble Wealth Management PBC lifted its holdings in Saba Capital Income & Opportunities Fund II by 290.4% in the first 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 during the period. Finally, Jefferies Financial Group Inc. purchased a new position in Saba Capital Income & Opportunities Fund II in the fourth quarter worth about $226,000. Institutional investors own 22.22% of the company's stock.

Saba Capital Income & Opportunities Fund II Price Performance

NYSE SABA traded down $0.08 during trading hours on Thursday, hitting $8.67. The company's stock had a trading volume of 69,297 shares, compared to its average volume of 92,817. Saba Capital Income & Opportunities Fund II has a 12 month low of $7.50 and a 12 month high of $9.43. The company's 50 day simple moving average is $8.59 and its two-hundred day simple moving average is $8.80.

Saba Capital Income & Opportunities Fund II Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Wednesday, April 9th were paid a $0.058 dividend. The ex-dividend date was Wednesday, April 9th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 8.03%.

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.