Short Interest in Saba Capital Income & Opportunities Fund II (NYSE:SABA) Drops By 17.1%

Saba Capital Income & Opportunities Fund II (NYSE:SABA) was the target of a significant drop in short interest in the month of December. As of December 15th, there was short interest totalling 9,200 shares, a drop of 17.1% from the November 30th total of 11,100 shares. Based on an average daily volume of 74,200 shares, the days-to-cover ratio is presently 0.1 days.

Saba Capital Income & Opportunities Fund II Stock Performance

Shares of NYSE:SABA traded up $0.12 during midday trading on Tuesday, hitting $9.07. The company’s stock had a trading volume of 96,124 shares, compared to its average volume of 105,682. Saba Capital Income & Opportunities Fund II has a 12-month low of $7.28 and a 12-month high of $9.17. The business’s 50 day simple moving average is $8.77 and its 200 day simple moving average is $8.39.

Saba Capital Income & Opportunities Fund II Announces Dividend

The firm also recently announced a dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th will be paid a $0.058 dividend. The ex-dividend date of this dividend is Tuesday, December 10th.

Insider Activity

In other Saba Capital Income & Opportunities Fund II news, major shareholder Saba Capital Management, L.P. sold 19,532 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $8.50, for a total value of $166,022.00. Following the transaction, the insider now owns 3,243,069 shares in the company, valued at approximately $27,566,086.50. This trade represents a 0.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have sold a total of 104,012 shares of company stock worth $884,867 over the last 90 days. 5.62% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Rivernorth Capital Management LLC boosted its stake in Saba Capital Income & Opportunities Fund II by 37.5% during the third quarter. Rivernorth Capital Management LLC now owns 4,575,754 shares of the company’s stock worth $38,940,000 after buying an additional 1,246,847 shares during the last quarter. Kovitz Investment Group Partners LLC acquired a new position in shares of Saba Capital Income & Opportunities Fund II during the 3rd quarter valued at about $5,836,000. Penserra Capital Management LLC purchased a new stake in shares of Saba Capital Income & Opportunities Fund II in the third quarter valued at about $4,780,000. Envestnet Asset Management Inc. acquired a new stake in Saba Capital Income & Opportunities Fund II during the second quarter worth about $2,833,000. Finally, Hara Capital LLC purchased a new position in Saba Capital Income & Opportunities Fund II during the third quarter worth about $2,997,000. 22.22% of the stock is currently owned by institutional investors and hedge funds.

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.