Insider Selling: Saba Capital Income & Opportunities Fund II (NYSE:SABA) Major Shareholder Sells $586,985.48 in Stock

Saba Capital Income & Opportunities Fund II (NYSE:SABA) major shareholder Saba Capital Management, L.P. sold 70,046 shares of the stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $8.38, for a total value of $586,985.48. Following the completion of the sale, the insider now owns 3,346,812 shares of the company’s stock, valued at $28,046,284.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• 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 Stock Up 0.8 %

Shares of SABA opened at $8.42 on Friday. Saba Capital Income & Opportunities Fund II has a twelve month low of $7.28 and a twelve month high of $8.65. The firm’s 50 day moving average price is $8.36 and its two-hundred day moving average price is $7.88.

Saba Capital Income & Opportunities Fund II Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 10th will be paid a $0.058 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 8.27%. The ex-dividend date is Tuesday, September 10th.

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

A number of large investors have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. bought a new stake in Saba Capital Income & Opportunities Fund II in the 2nd quarter valued at approximately $2,833,000. Fiera Capital Corp bought a new stake in shares of Saba Capital Income & Opportunities Fund II in the second quarter worth $797,000. Prevail Innovative Wealth Advisors LLC acquired a new position in Saba Capital Income & Opportunities Fund II during the second quarter worth $768,000. Choreo LLC bought a new position in Saba Capital Income & Opportunities Fund II in the second quarter valued at $701,000. Finally, Farther Finance Advisors LLC acquired a new stake in Saba Capital Income & Opportunities Fund II in the 2nd quarter valued at $521,000. Institutional investors own 22.22% of the company’s stock.

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.