Saba Capital Income & Opportunities Fund II (NYSE:SABA) Short Interest Update

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

Saba Capital Income & Opportunities Fund II Stock Down 0.1 %

Saba Capital Income & Opportunities Fund II stock traded down $0.01 during midday trading on Tuesday, hitting $8.72. 103,884 shares of the stock were exchanged, compared to its average volume of 99,356. Saba Capital Income & Opportunities Fund II has a 52-week low of $7.40 and a 52-week high of $9.43. The business’s 50-day moving average price is $9.07 and its 200-day moving average price is $8.82.

Saba Capital Income & Opportunities Fund II Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 11th will be issued a dividend of $0.058 per share. This represents a $0.70 annualized dividend and a yield of 7.99%. The ex-dividend date of this dividend is Tuesday, March 11th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Penserra Capital Management LLC purchased a new position in Saba Capital Income & Opportunities Fund II during the third quarter worth about $4,780,000. Rivernorth Capital Management LLC boosted its stake in Saba Capital Income & Opportunities Fund II by 37.5% in the third quarter. Rivernorth Capital Management LLC now owns 4,575,754 shares of the company’s stock valued at $38,940,000 after acquiring an additional 1,246,847 shares during the last quarter. Kovitz Investment Group Partners LLC purchased a new position in Saba Capital Income & Opportunities Fund II in the third quarter valued at about $5,836,000. Noble Wealth Management PBC purchased a new position in Saba Capital Income & Opportunities Fund II in the fourth quarter valued at about $151,000. Finally, Choreo LLC boosted its stake in Saba Capital Income & Opportunities Fund II by 74.9% in the fourth quarter. Choreo LLC now owns 200,876 shares of the company’s stock valued at $1,813,000 after acquiring an additional 86,036 shares during the last quarter. 22.22% of the stock is currently owned by hedge funds and other institutional investors.

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.