Rivernorth Capital Management LLC Increases Position in Saba Capital Income & Opportunities Fund II $SABA

Rivernorth Capital Management LLC lifted its stake in Saba Capital Income & Opportunities Fund II (NYSE:SABA) by 2.4% in the 1st quarter, HoldingsChannel reports. The fund owned 2,857,603 shares of the company’s stock after purchasing an additional 66,554 shares during the quarter. Saba Capital Income & Opportunities Fund II comprises 1.2% of Rivernorth Capital Management LLC’s investment portfolio, making the stock its 14th largest position. Rivernorth Capital Management LLC owned approximately 0.10% of Saba Capital Income & Opportunities Fund II worth $23,775,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Shrier Wealth Management LLC bought a new stake in Saba Capital Income & Opportunities Fund II during the fourth quarter valued at about $94,000. Farther Finance Advisors LLC raised its holdings in Saba Capital Income & Opportunities Fund II by 45.3% in the fourth quarter. Farther Finance Advisors LLC now owns 12,035 shares of the company’s stock worth $99,000 after purchasing an additional 3,750 shares in the last quarter. Landscape Capital Management L.L.C. purchased a new stake in shares of Saba Capital Income & Opportunities Fund II during the fourth quarter valued at about $116,000. Capital Investment Advisors LLC bought a new stake in shares of Saba Capital Income & Opportunities Fund II in the 4th quarter valued at about $119,000. Finally, Royal Bank of Canada boosted its holdings in shares of Saba Capital Income & Opportunities Fund II by 227.5% in the 1st quarter. Royal Bank of Canada now owns 22,768 shares of the company’s stock valued at $189,000 after buying an additional 15,815 shares in the last quarter. 22.22% of the stock is currently owned by hedge funds and other institutional investors.

Saba Capital Income & Opportunities Fund II Stock Up 0.6%

Shares of Saba Capital Income & Opportunities Fund II stock opened at $8.26 on Wednesday. The firm’s 50 day moving average price is $8.33 and its 200-day moving average price is $8.28. Saba Capital Income & Opportunities Fund II has a 52-week low of $7.96 and a 52-week high of $9.46.

Saba Capital Income & Opportunities Fund II Announces Dividend

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

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.