Saba Closed-End Funds ETF (BATS:CEFS) Short Interest Update

Saba Closed-End Funds ETF (BATS:CEFS) was the recipient of a large increase in short interest during the month of August. As of August 31st, there was short interest totaling 151,205 shares, an increase of 91.3% from the August 15th total of 79,052 shares. Based on an average daily volume of 74,941 shares, the short-interest ratio is currently 2.0 days. Approximately 1.1% of the shares of the company are short sold.

Saba Closed-End Funds ETF Trading Down 1.0%

Shares of BATS CEFS opened at $24.86 on Tuesday. The stock has a 50 day simple moving average of $25.23 and a 200-day simple moving average of $24.58. The company has a market cap of $330.64 million, a PE ratio of 21.88 and a beta of 0.72. Saba Closed-End Funds ETF has a 12-month low of $22.05 and a 12-month high of $25.98.

Saba Closed-End Funds ETF Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Friday, July 31st. Shareholders of record on Wednesday, July 29th were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Wednesday, July 29th. This represents a c) annualized dividend and a yield of 6.8%.

Hedge Funds Weigh In On Saba Closed-End Funds ETF

A number of institutional investors and hedge funds have recently bought and sold shares of CEFS. New England Private Wealth Advisors LLC increased its stake in Saba Closed-End Funds ETF by 6.8% during the 4th quarter. New England Private Wealth Advisors LLC now owns 382,742 shares of the company’s stock valued at $8,818,000 after buying an additional 24,412 shares during the period. Arete Wealth Advisors LLC lifted its stake in shares of Saba Closed-End Funds ETF by 14.0% in the 1st quarter. Arete Wealth Advisors LLC now owns 279,934 shares of the company’s stock worth $6,285,000 after acquiring an additional 34,370 shares during the period. XML Financial LLC boosted its holdings in shares of Saba Closed-End Funds ETF by 21.1% in the first quarter. XML Financial LLC now owns 231,780 shares of the company’s stock valued at $5,227,000 after acquiring an additional 40,453 shares in the last quarter. Fort Point Capital Partners LLC bought a new position in shares of Saba Closed-End Funds ETF in the fourth quarter valued at approximately $760,000. Finally, Independent Financial Group LLC acquired a new position in shares of Saba Closed-End Funds ETF during the first quarter valued at approximately $2,365,000.

Saba Closed-End Funds ETF Company Profile

The Saba Closed-End Funds ETF (CEFS) is an exchange-traded fund that mostly invests in target outcome asset allocation. The fund is an actively managed fund-of-funds that seeks to generate high income by investing in closed-end funds trading at a discount to net asset value and hedging for duration risk. CEFS was launched on Mar 21, 2017 and is managed by Saba.