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

Saba Capital Income & Opportunities Fund II (NYSE:SABA) saw a significant drop in short interest in January. As of January 31st, there was short interest totalling 46,100 shares, a drop of 60.9% from the January 15th total of 117,900 shares. Based on an average trading volume of 98,800 shares, the short-interest ratio is currently 0.5 days.

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

A number of institutional investors and hedge funds have recently made changes to their positions in SABA. Rivernorth Capital Management LLC grew its stake in shares of Saba Capital Income & Opportunities Fund II by 37.5% in the 3rd quarter. Rivernorth Capital Management LLC now owns 4,575,754 shares of the company’s stock worth $38,940,000 after buying an additional 1,246,847 shares in the last quarter. Thomas J. Herzfeld Advisors Inc. grew its stake in shares of Saba Capital Income & Opportunities Fund II by 152.0% in the 4th quarter. Thomas J. Herzfeld Advisors Inc. now owns 1,436,590 shares of the company’s stock worth $13,016,000 after buying an additional 866,503 shares in the last quarter. Kovitz Investment Group Partners LLC purchased a new position in shares of Saba Capital Income & Opportunities Fund II in the 3rd quarter worth $5,836,000. Wells Fargo & Company MN grew its stake in shares of Saba Capital Income & Opportunities Fund II by 933.7% in the 4th quarter. Wells Fargo & Company MN now owns 716,776 shares of the company’s stock worth $6,494,000 after buying an additional 647,432 shares in the last quarter. Finally, Penserra Capital Management LLC purchased a new position in shares of Saba Capital Income & Opportunities Fund II in the 3rd quarter worth $4,780,000. 22.22% of the stock is owned by hedge funds and other institutional investors.

Saba Capital Income & Opportunities Fund II Stock Up 0.1 %

SABA opened at $9.20 on Friday. Saba Capital Income & Opportunities Fund II has a fifty-two week low of $7.28 and a fifty-two week high of $9.43. The company has a fifty day moving average of $9.08 and a 200 day moving average of $8.72.

Saba Capital Income & Opportunities Fund II Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, February 28th. Shareholders of record on Tuesday, February 11th will be paid a $0.058 dividend. The ex-dividend date is Tuesday, February 11th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 7.57%.

About Saba Capital Income & Opportunities Fund II

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.