Shaker Financial Services LLC Purchases New Stake in Saba Capital Income & Opportunities Fund II (NYSE:SABA)

Shaker Financial Services LLC acquired a new stake in Saba Capital Income & Opportunities Fund II (NYSE:SABA - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 153,213 shares of the company's stock, valued at approximately $1,304,000. Shaker Financial Services LLC owned 0.48% of Saba Capital Income & Opportunities Fund II as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Envestnet Asset Management Inc. purchased a new position in Saba Capital Income & Opportunities Fund II in the second quarter valued at $2,833,000. Fiera Capital Corp purchased a new position in shares of Saba Capital Income & Opportunities Fund II in the 2nd quarter valued at about $797,000. Prevail Innovative Wealth Advisors LLC acquired a new position in Saba Capital Income & Opportunities Fund II in the 2nd quarter worth about $768,000. Choreo LLC purchased a new position in Saba Capital Income & Opportunities Fund II during the second quarter worth approximately $701,000. Finally, Private Advisor Group LLC boosted its position in Saba Capital Income & Opportunities Fund II by 729.4% during the third quarter. Private Advisor Group LLC now owns 84,148 shares of the company's stock worth $716,000 after purchasing an additional 74,002 shares in the last quarter. Hedge funds and other institutional investors own 22.22% of the company's stock.

Insider Activity

In other Saba Capital Income & Opportunities Fund II news, major shareholder Saba Capital Management, L.P. sold 4,453 shares of the business's stock in a transaction that occurred on 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 in the company, valued at approximately $29,189,292.66. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 180,112 shares of company stock worth $1,523,150 over the last 90 days. 6.18% of the stock is currently owned by company insiders.

Saba Capital Income & Opportunities Fund II Price Performance

Shares of Saba Capital Income & Opportunities Fund II stock remained flat at $8.64 on Thursday. The stock had a trading volume of 68,299 shares, compared to its average volume of 110,350. The business has a 50-day simple moving average of $8.51 and a 200-day simple moving average of $8.09. Saba Capital Income & Opportunities Fund II has a 1-year low of $7.28 and a 1-year high of $8.73.

Saba Capital Income & Opportunities Fund II Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 29th. Shareholders of record on Monday, November 11th will be issued a dividend of $0.058 per share. This represents a $0.70 annualized dividend and a yield of 8.06%. The ex-dividend date is Friday, November 8th.

Saba Capital Income & Opportunities Fund II 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.