Saba Capital Income & Opportunities Fund II (NYSE:SABA) Sees Large 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 February. As of February 28th, there was short interest totalling 32,500 shares, a decrease of 17.7% from the February 13th total of 39,500 shares. Approximately 0.1% of the shares of the stock are short sold. Based on an average trading volume of 108,000 shares, the days-to-cover ratio is currently 0.3 days.

Saba Capital Income & Opportunities Fund II Stock Performance

Saba Capital Income & Opportunities Fund II stock traded up $0.09 during trading hours on Wednesday, reaching $8.82. 84,123 shares of the company’s stock traded hands, compared to its average volume of 99,392. Saba Capital Income & Opportunities Fund II has a fifty-two week low of $7.40 and a fifty-two week high of $9.43. The firm’s 50 day moving average is $9.07 and its 200-day moving average is $8.82.

Saba Capital Income & Opportunities Fund II Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 11th will be paid a dividend of $0.058 per share. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $0.70 annualized dividend and a dividend yield of 7.89%.

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 company. Penserra Capital Management LLC bought a new position in Saba Capital Income & Opportunities Fund II during the third quarter worth $4,780,000. Rivernorth Capital Management LLC boosted its position in Saba Capital Income & Opportunities Fund II by 37.5% during the third quarter. Rivernorth Capital Management LLC now owns 4,575,754 shares of the company’s stock worth $38,940,000 after purchasing an additional 1,246,847 shares during the period. Kovitz Investment Group Partners LLC bought a new position in Saba Capital Income & Opportunities Fund II during the third quarter worth $5,836,000. Noble Wealth Management PBC bought a new position in Saba Capital Income & Opportunities Fund II during the fourth quarter worth $151,000. Finally, Choreo LLC boosted its position in Saba Capital Income & Opportunities Fund II by 74.9% during the fourth quarter. Choreo LLC now owns 200,876 shares of the company’s stock worth $1,813,000 after purchasing an additional 86,036 shares during the period. 22.22% of the stock is owned by institutional investors.

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.