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

Saba Capital Income & Opportunities Fund II (NYSE:SABA) was the target of a large decline in short interest in the month of September. As of September 30th, there was short interest totalling 46,000 shares, a decline of 37.1% from the September 15th total of 73,100 shares. Based on an average daily volume of 97,600 shares, the short-interest ratio is currently 0.5 days.

Saba Capital Income & Opportunities Fund II Stock Up 0.3 %

NYSE:SABA traded up $0.03 during mid-day trading on Monday, reaching $8.65. 3,076 shares of the company’s stock traded hands, compared to its average volume of 115,304. The company has a 50 day moving average price of $8.44 and a 200-day moving average price of $7.96. Saba Capital Income & Opportunities Fund II has a 12-month low of $7.28 and a 12-month high of $8.73.

Saba Capital Income & Opportunities Fund II Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Thursday, October 31st. Investors of record on Wednesday, October 9th will be issued a dividend of $0.058 per share. The ex-dividend date is Wednesday, October 9th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 8.05%.

Insiders Place Their Bets

In related news, major shareholder Saba Capital Management, L.P. sold 4,453 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $8.46, for a total transaction of $37,672.38. Following the completion of the sale, the insider now directly owns 3,450,271 shares in the company, valued at $29,189,292.66. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders have sold 95,632 shares of company stock valued at $804,304 in the last ninety days. Company insiders own 5.62% of the company’s stock.

Institutional Trading of Saba Capital Income & Opportunities Fund II

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SABA. Envestnet Asset Management Inc. purchased a new stake in Saba Capital Income & Opportunities Fund II in the second quarter worth about $2,833,000. Fiera Capital Corp bought a new position in shares of Saba Capital Income & Opportunities Fund II in the 2nd quarter worth approximately $797,000. Prevail Innovative Wealth Advisors LLC purchased a new position in shares of Saba Capital Income & Opportunities Fund II in the 2nd quarter valued at approximately $768,000. Choreo LLC bought a new stake in shares of Saba Capital Income & Opportunities Fund II during the second quarter valued at approximately $701,000. Finally, Farther Finance Advisors LLC purchased a new stake in Saba Capital Income & Opportunities Fund II in the second quarter worth $521,000. Hedge funds and other institutional investors own 22.22% of the company’s stock.

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.