Saba Capital Income & Opportunities Fund II (NYSE:SABA) Short Interest Up 67.6% in July

Saba Capital Income & Opportunities Fund II (NYSE:SABA) was the target of a large growth in short interest in the month of July. As of July 15th, there was short interest totaling 22,235 shares, a growth of 67.6% from the June 30th total of 13,268 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average daily volume of 73,944 shares, the days-to-cover ratio is currently 0.3 days.

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

Hedge funds and other institutional investors have recently modified their holdings of the company. Rivernorth Capital Management LLC lifted its stake in shares of Saba Capital Income & Opportunities Fund II by 2.4% in the 1st quarter. Rivernorth Capital Management LLC now owns 2,857,603 shares of the company’s stock worth $23,775,000 after acquiring an additional 66,554 shares during the period. Focus Partners Wealth bought a new stake in Saba Capital Income & Opportunities Fund II during the fourth quarter worth approximately $8,423,000. Scotia Capital Inc. raised its holdings in Saba Capital Income & Opportunities Fund II by 17.8% during the third quarter. Scotia Capital Inc. now owns 428,883 shares of the company’s stock worth $3,911,000 after purchasing an additional 64,711 shares in the last quarter. Invesco Ltd. raised its holdings in Saba Capital Income & Opportunities Fund II by 3.8% during the fourth quarter. Invesco Ltd. now owns 418,725 shares of the company’s stock worth $3,454,000 after purchasing an additional 15,204 shares in the last quarter. Finally, Fiera Capital Corp lifted its position in Saba Capital Income & Opportunities Fund II by 6.2% in the fourth quarter. Fiera Capital Corp now owns 335,657 shares of the company’s stock worth $2,769,000 after purchasing an additional 19,655 shares during the period. Institutional investors and hedge funds own 22.22% of the company’s stock.

Saba Capital Income & Opportunities Fund II Trading Down 1.1%

Shares of NYSE SABA traded down $0.10 during mid-day trading on Friday, hitting $8.24. The company had a trading volume of 36,556 shares, compared to its average volume of 47,907. Saba Capital Income & Opportunities Fund II has a 12 month low of $7.96 and a 12 month high of $9.46. The firm’s 50 day simple moving average is $8.32 and its two-hundred day simple moving average is $8.28.

Saba Capital Income & Opportunities Fund II Announces Dividend

The business also recently announced a monthly dividend, which was paid on Friday, July 31st. Shareholders of record on Thursday, July 9th were given a $0.058 dividend. The ex-dividend date of this dividend was Thursday, July 9th. This represents a c) annualized dividend and a yield of 8.4%.

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. Morgan Global Government Bond Index. Saba Capital Income & Opportunities Fund II was formed on March 17, 1988 and is domiciled in the United States.