Insider Selling: Saba Capital Income & Opportunities Fund II (NYSE:SABA) Major Shareholder Sells 4,881 Shares of Stock

Saba Capital Income & Opportunities Fund II (NYSE:SABA) major shareholder Saba Capital Management, L.P. sold 4,881 shares of Saba Capital Income & Opportunities Fund II stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $8.60, for a total transaction of $41,976.60. Following the transaction, the insider now owns 3,238,188 shares in the company, valued at $27,848,416.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• 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 shares were sold at an average price of $8.38, for a total transaction 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 transaction of $37,672.38.

Saba Capital Income & Opportunities Fund II Stock Down 0.7 %

Shares of SABA stock traded down $0.06 on Thursday, hitting $8.56. 14,281 shares of the stock traded hands, compared to its average volume of 114,095. The firm has a 50 day simple moving average of $8.46 and a two-hundred day simple moving average of $7.98. Saba Capital Income & Opportunities Fund II has a 52 week low of $7.28 and a 52 week high of $8.73.

Saba Capital Income & Opportunities Fund II Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Wednesday, October 9th will be issued a $0.058 dividend. The ex-dividend date is Wednesday, October 9th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 8.13%.

Hedge Funds Weigh In On Saba Capital Income & Opportunities Fund II

Large investors have recently made changes to their positions in the company. Family Firm Inc. purchased a new stake in Saba Capital Income & Opportunities Fund II in the 2nd quarter valued at about $83,000. Gilman Hill Asset Management LLC bought a new stake in shares of Saba Capital Income & Opportunities Fund II in the 3rd quarter valued at about $85,000. HB Wealth Management LLC bought a new position in shares of Saba Capital Income & Opportunities Fund II during the 2nd quarter worth approximately $98,000. Patron Partners LLC bought a new position in shares of Saba Capital Income & Opportunities Fund II during the 2nd quarter worth approximately $144,000. Finally, Rock Point Advisors LLC bought a new position in shares of Saba Capital Income & Opportunities Fund II during the 2nd quarter worth approximately $162,000. 22.22% of the stock is owned by hedge funds and other 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.