Saba Capital Management, L.P. Sells 4,453 Shares of Saba Capital Income & Opportunities Fund II (NYSE:SABA) Stock

Saba Capital Income & Opportunities Fund II (NYSE:SABA) major shareholder Saba Capital Management, L.P. sold 4,453 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $8.46, for a total transaction of $37,672.38. Following the completion of the sale, the insider now directly owns 3,450,271 shares of the company’s stock, valued at $29,189,292.66. The sale was disclosed in a filing with the SEC, which is accessible through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Saba Capital Income & Opportunities Fund II Stock Down 0.5 %

Shares of SABA stock opened at $8.38 on Thursday. Saba Capital Income & Opportunities Fund II has a 52-week low of $7.28 and a 52-week high of $8.65. The company has a 50-day simple moving average of $8.35 and a two-hundred day simple moving average of $7.87.

Saba Capital Income & Opportunities Fund II Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 10th will be given a dividend of $0.058 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 8.31%. The ex-dividend date of this dividend is Tuesday, September 10th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Family Firm Inc. bought a new position in shares of Saba Capital Income & Opportunities Fund II during the 2nd quarter valued at approximately $83,000. HB Wealth Management LLC bought a new position in shares of Saba Capital Income & Opportunities Fund II during the 2nd quarter valued at approximately $98,000. Patron Partners LLC bought a new position in shares of Saba Capital Income & Opportunities Fund II during the 2nd quarter valued at approximately $144,000. Rock Point Advisors LLC bought a new position in shares of Saba Capital Income & Opportunities Fund II during the 2nd quarter valued at approximately $162,000. Finally, Melfa Wealth Management Inc. bought a new position in shares of Saba Capital Income & Opportunities Fund II during the 2nd quarter valued at approximately $188,000. 22.22% of the stock is owned by institutional investors.

Saba Capital Income & Opportunities Fund II Company Profile

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.