Saba Closed-End Funds ETF (BATS:CEFS) Shares Shorted: Short Interest Up 98.7% in October

Saba Closed-End Funds ETF (BATS:CEFS) was the target of a large increase in short interest in the month of October. As of October 30th, there was short interest totaling 112,431 shares, an increase of 98.7% from the October 15th total of 56,577 shares. Approximately 0.6% of the shares of the stock are short sold. Based on an average trading volume of 95,815 shares, the short-interest ratio is presently 1.2 days.

Saba Closed-End Funds ETF Stock Performance

BATS CEFS traded down $0.04 during trading hours on Friday, reaching $23.75. The company’s stock had a trading volume of 75,809 shares, compared to its average volume of 90,961. Saba Closed-End Funds ETF has a fifty-two week low of $22.05 and a fifty-two week high of $25.98. The stock has a market cap of $421.56 million, a PE ratio of 21.88 and a beta of 0.80. The company’s 50-day moving average is $24.39 and its two-hundred day moving average is $24.39.

Saba Closed-End Funds ETF Increases Dividend

The company also recently announced a monthly dividend, which was paid on Wednesday, September 30th. Investors of record on Monday, September 28th were given a $0.2460 dividend. This is an increase 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 dividend yield of 12.4%.

Hedge Funds Weigh In On Saba Closed-End Funds ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CEFS. Private Advisor Group LLC increased its holdings in Saba Closed-End Funds ETF by 8.8% during the 3rd quarter. Private Advisor Group LLC now owns 20,291 shares of the company’s stock worth $497,000 after purchasing an additional 1,633 shares during the last quarter. XML Financial LLC grew its position in shares of 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 worth $7,151,000 after buying an additional 21,379 shares in the last quarter. Partners Wealth Management LLC bought a new stake in shares of Saba Closed-End Funds ETF in the third quarter worth $4,916,000. Integrated Advisors Network LLC acquired a new stake in shares of Saba Closed-End Funds ETF in the 3rd quarter valued at about $483,000. Finally, New England Private Wealth Advisors LLC increased its holdings in Saba Closed-End Funds ETF by 0.6% in the third quarter. New England Private Wealth Advisors LLC now owns 413,233 shares of the company’s stock valued at $10,131,000 after buying an additional 2,356 shares during the last quarter.

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.