Saba Capital Income & Opportunities Fund II (NYSE:SABA) Shares Climb 0.6% – Here’s Why

Saba Capital Income & Opportunities Fund II (NYSE:SABA) shares traded up 0.6% during mid-day trading on Wednesday. The stock traded as high as $7.79 and last traded at $7.7450. Approximately 133,529 shares traded hands during mid-day trading, an increase of 80% from the average daily volume of 74,239 shares. The stock had previously closed at $7.70.

Saba Capital Income & Opportunities Fund II Stock Performance

The stock has a 50-day moving average price of $7.91 and a 200 day moving average price of $8.18.

Saba Capital Income & Opportunities Fund II Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, November 30th. Shareholders of record on Tuesday, November 10th will be issued a $0.0580 dividend. This represents a $0.70 annualized dividend and a yield of 9.0%. The ex-dividend date of this dividend is Tuesday, November 10th.

Institutional Trading of Saba Capital Income & Opportunities Fund II

A number of institutional investors and hedge funds have recently made changes to their positions in SABA. Uhlmann Price Securities LLC grew its position in shares of Saba Capital Income & Opportunities Fund II by 7.0% in the third quarter. Uhlmann Price Securities LLC now owns 22,545 shares of the company’s stock valued at $180,000 after purchasing an additional 1,482 shares during the period. Visionary Horizons LLC raised its position in shares of Saba Capital Income & Opportunities Fund II by 5.0% during the 3rd quarter. Visionary Horizons LLC now owns 46,087 shares of the company’s stock worth $367,000 after purchasing an additional 2,211 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new position in shares of Saba Capital Income & Opportunities Fund II during the 2nd quarter worth about $42,000. Private Advisor Group LLC lifted its stake in Saba Capital Income & Opportunities Fund II by 10.1% in the 1st quarter. Private Advisor Group LLC now owns 87,448 shares of the company’s stock valued at $728,000 after buying an additional 8,000 shares in the last quarter. Finally, Capital Investment Advisors LLC lifted its stake in Saba Capital Income & Opportunities Fund II by 29.2% in the 3rd quarter. Capital Investment Advisors LLC now owns 39,747 shares of the company’s stock valued at $317,000 after buying an additional 8,976 shares in the last quarter. 22.22% of the stock is currently owned by hedge funds and other institutional investors.

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.