Saba Closed-End Funds ETF (BATS:CEFS) Stock Short Interest Falls 56.5%

Saba Closed-End Funds ETF (BATS:CEFS) was the target of a significant decline in short interest in October. As of October 15th, there was short interest totaling 56,577 shares, a decline of 56.5% from the September 30th total of 130,180 shares. Based on an average trading volume of 90,597 shares, the short-interest ratio is currently 0.6 days. Currently, 0.4% of the shares of the stock are short sold.

Institutional Investors Weigh In On Saba Closed-End Funds ETF

A number of institutional investors have recently added to or reduced their stakes in the stock. XML Financial LLC grew its stake in Saba Closed-End Funds ETF by 7.9% during the third quarter. XML Financial LLC now owns 291,690 shares of the company’s stock valued at $7,151,000 after acquiring an additional 21,379 shares in the last quarter. Partners Wealth Management LLC bought a new stake in Saba Closed-End Funds ETF in the 3rd quarter valued at $4,916,000. Integrated Advisors Network LLC bought a new stake in Saba Closed-End Funds ETF in the 3rd quarter valued at $483,000. New England Private Wealth Advisors LLC lifted its stake in Saba Closed-End Funds ETF by 0.6% in the 3rd quarter. New England Private Wealth Advisors LLC now owns 413,233 shares of the company’s stock worth $10,131,000 after purchasing an additional 2,356 shares in the last quarter. Finally, NFSG Corp lifted its stake in Saba Closed-End Funds ETF by 8.6% in the 3rd quarter. NFSG Corp now owns 51,805 shares of the company’s stock worth $1,270,000 after purchasing an additional 4,124 shares in the last quarter.

Saba Closed-End Funds ETF Stock Down 1.5%

BATS CEFS opened at $24.00 on Friday. The firm has a market cap of $319.20 million, a price-to-earnings ratio of 21.88 and a beta of 0.72. The business has a 50-day moving average price of $24.70 and a 200-day moving average price of $24.36. Saba Closed-End Funds ETF has a twelve month low of $22.05 and a twelve month high of $25.98.

Saba Closed-End Funds ETF Increases Dividend

The firm also recently announced a monthly dividend, which was paid on Wednesday, September 30th. Investors of record on Monday, September 28th were paid a dividend of $0.2460 per share. This is a boost from Saba Closed-End Funds ETF’s previous monthly dividend of $0.14. The ex-dividend date of this dividend was Monday, September 28th. This represents a $2.95 annualized dividend and a yield of 12.3%.

About Saba Closed-End Funds ETF

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.