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

Saba Capital Income & Opportunities Fund II (NYSE:SABA) was the recipient of a significant growth in short interest in 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. Based on an average trading volume of 73,944 shares, the short-interest ratio is currently 0.3 days. Currently, 0.1% of the company’s shares are sold short.

Saba Capital Income & Opportunities Fund II Stock Down 1.1%

NYSE:SABA traded down $0.10 during midday trading on Friday, hitting $8.24. The stock had a trading volume of 36,556 shares, compared to its average volume of 82,131. Saba Capital Income & Opportunities Fund II has a one year low of $7.96 and a one year high of $9.46. The stock has a 50-day moving average of $8.33 and a 200 day moving average of $8.28.

Saba Capital Income & Opportunities Fund II Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, July 31st. Shareholders of record on Thursday, July 9th will be issued a $0.058 dividend. This represents a c) annualized dividend and a dividend yield of 8.4%. The ex-dividend date is Thursday, July 9th.

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

Several institutional investors have recently made changes to their positions in SABA. Cetera Investment Advisers raised its holdings in shares of Saba Capital Income & Opportunities Fund II by 11.8% in the second quarter. Cetera Investment Advisers now owns 29,468 shares of the company’s stock valued at $271,000 after acquiring an additional 3,118 shares in the last quarter. Baird Financial Group Inc. grew its holdings in Saba Capital Income & Opportunities Fund II by 101.2% during the 2nd quarter. Baird Financial Group Inc. now owns 99,116 shares of the company’s stock worth $911,000 after acquiring an additional 49,852 shares in the last quarter. Walleye Capital LLC grew its holdings in Saba Capital Income & Opportunities Fund II by 6.2% during the 2nd quarter. Walleye Capital LLC now owns 25,011 shares of the company’s stock worth $230,000 after acquiring an additional 1,468 shares in the last quarter. Raymond James Financial Inc. increased its position in Saba Capital Income & Opportunities Fund II by 2.9% during the 2nd quarter. Raymond James Financial Inc. now owns 71,402 shares of the company’s stock valued at $656,000 after purchasing an additional 1,997 shares during the period. Finally, Bank of America Corp DE raised its holdings in shares of Saba Capital Income & Opportunities Fund II by 35.2% in the 2nd quarter. Bank of America Corp DE now owns 20,549 shares of the company’s stock valued at $189,000 after purchasing an additional 5,348 shares in the last quarter. Hedge funds and other institutional investors own 22.22% of the company’s stock.

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