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

Saba Capital Income & Opportunities Fund II (NYSE:SABA) was the recipient of a large decrease in short interest during the month of December. As of December 15th, there was short interest totalling 9,200 shares, a decrease of 17.1% from the November 30th total of 11,100 shares. Based on an average trading volume of 74,200 shares, the short-interest ratio is currently 0.1 days.

Insider Activity at Saba Capital Income & Opportunities Fund II

In other Saba Capital Income & Opportunities Fund II news, major shareholder Saba Capital Management, L.P. sold 4,881 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $8.60, for a total value of $41,976.60. Following the transaction, the insider now directly owns 3,238,188 shares in the company, valued at approximately $27,848,416.80. This represents a 0.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders have sold 105,613 shares of company stock valued at $898,492. Insiders own 5.62% of the company’s stock.

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

Hedge funds and other institutional investors have recently made changes to their positions in the business. Rivernorth Capital Management LLC raised 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 valued at $38,940,000 after purchasing an additional 1,246,847 shares in the last quarter. Kovitz Investment Group Partners LLC acquired a new stake in Saba Capital Income & Opportunities Fund II during the third quarter valued at approximately $5,836,000. Penserra Capital Management LLC bought a new position in Saba Capital Income & Opportunities Fund II during the 3rd quarter worth approximately $4,780,000. Envestnet Asset Management Inc. bought a new stake in shares of Saba Capital Income & Opportunities Fund II in the 2nd quarter valued at approximately $2,833,000. Finally, Hara Capital LLC acquired a new stake in shares of Saba Capital Income & Opportunities Fund II during the 3rd quarter valued at approximately $2,997,000. Institutional investors and hedge funds own 22.22% of the company’s stock.

Saba Capital Income & Opportunities Fund II Stock Performance

NYSE:SABA traded down $0.02 during trading hours on Friday, reaching $8.80. 68,274 shares of the company were exchanged, compared to its average volume of 105,843. Saba Capital Income & Opportunities Fund II has a 52-week low of $7.28 and a 52-week high of $9.17. The stock has a 50 day simple moving average of $8.76 and a 200 day simple moving average of $8.38.

Saba Capital Income & Opportunities Fund II Dividend Announcement

The firm also recently declared a dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th will be given a dividend of $0.058 per share. The ex-dividend date of this dividend is Tuesday, December 10th.

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.