Saba Capital Management, L.P. Sells 32,871 Shares of Saba Capital Income & Opportunities Fund II (NYSE:SABA) Stock

Posted by Shane Hupp on Oct 24th, 2024

Saba Capital Income & Opportunities Fund II (NYSE:SABA – Get Free Report) major shareholder Saba Capital Management, L.P. sold 32,871 shares of the stock in a transaction on Monday, October 21st. The stock was sold at an average price of $8.48, for a total value of $278,746.08. Following the transaction, the insider now owns 3,158,589 shares of the company’s stock, valued at approximately $26,784,834.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

On Friday, October 18th, Saba Capital Management, L.P. sold 46,728 shares of Saba Capital Income & Opportunities Fund II stock. The shares were sold at an average price of $8.52, for a total transaction of $398,122.56.
On Wednesday, October 16th, Saba Capital Management, L.P. sold 4,881 shares of Saba Capital Income & Opportunities Fund II stock. The shares were sold at an average price of $8.60, for a total transaction of $41,976.60.
On Wednesday, October 2nd, Saba Capital Management, L.P. sold 19,532 shares of Saba Capital Income & Opportunities Fund II stock. The stock was sold at an average price of $8.50, for a total transaction of $166,022.00.
On Monday, September 30th, Saba Capital Management, L.P. sold 1,601 shares of Saba Capital Income & Opportunities Fund II stock. The shares were sold at an average price of $8.51, for a total transaction of $13,624.51.
On Wednesday, September 25th, Saba Capital Management, L.P. sold 70,046 shares of Saba Capital Income & Opportunities Fund II stock. The stock was sold at an average price of $8.38, for a total value of $586,985.48.
On Monday, September 23rd, Saba Capital Management, L.P. sold 4,453 shares of Saba Capital Income & Opportunities Fund II stock. The shares were sold at an average price of $8.46, for a total value of $37,672.38.

Saba Capital Income & Opportunities Fund II Price Performance

SABA opened at $8.52 on Thursday. The stock’s 50-day moving average price is $8.48 and its 200 day moving average price is $8.01. Saba Capital Income & Opportunities Fund II has a 12-month low of $7.28 and a 12-month high of $8.73.

Saba Capital Income & Opportunities Fund II Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Wednesday, October 9th will be given a dividend of $0.058 per share. The ex-dividend date is Wednesday, October 9th. This represents a $0.70 annualized dividend and a dividend yield of 8.17%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SABA. Envestnet Asset Management Inc. acquired a new stake in Saba Capital Income & Opportunities Fund II during the 2nd quarter worth approximately $2,833,000. Gilman Hill Asset Management LLC purchased a new stake in shares of Saba Capital Income & Opportunities Fund II during the third quarter worth $85,000. Rock Point Advisors LLC acquired a new stake in shares of Saba Capital Income & Opportunities Fund II in the second quarter valued at $162,000. Farther Finance Advisors LLC purchased a new position in Saba Capital Income & Opportunities Fund II in the second quarter valued at $521,000. Finally, HB Wealth Management LLC acquired a new position in Saba Capital Income & Opportunities Fund II during the 2nd quarter worth $98,000. Institutional investors and hedge funds own 22.22% of the company’s stock.

About Saba Capital Income & Opportunities Fund II

(Get Free Report)

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.