Independent Advisor Alliance Acquires 13,850 Shares of Saba Capital Income & Opportunities Fund II (NYSE:SABA)

Independent Advisor Alliance raised its holdings in Saba Capital Income & Opportunities Fund II (NYSE:SABA) by 22.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 74,825 shares of the company’s stock after buying an additional 13,850 shares during the period. Independent Advisor Alliance owned about 0.23% of Saba Capital Income & Opportunities Fund II worth $637,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in SABA. Penserra Capital Management LLC bought a new position in shares of Saba Capital Income & Opportunities Fund II during the third quarter worth approximately $4,780,000. Envestnet Asset Management Inc. bought a new position in shares of Saba Capital Income & Opportunities Fund II during the second quarter worth approximately $2,833,000. Hara Capital LLC bought a new position in shares of Saba Capital Income & Opportunities Fund II during the third quarter worth approximately $2,997,000. Fiera Capital Corp increased its stake in shares of Saba Capital Income & Opportunities Fund II by 235.2% during the third quarter. Fiera Capital Corp now owns 342,605 shares of the company’s stock worth $2,916,000 after purchasing an additional 240,405 shares during the period. Finally, Shaker Financial Services LLC bought a new position in shares of Saba Capital Income & Opportunities Fund II during the third quarter worth approximately $1,304,000. Institutional investors own 22.22% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder Saba Capital Management, L.P. sold 70,046 shares of the stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $8.38, for a total transaction of $586,985.48. Following the sale, the insider now owns 3,346,812 shares of the company’s stock, valued at $28,046,284.56. This represents a 2.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold 180,112 shares of company stock valued at $1,523,150 over the last 90 days. 6.18% of the stock is owned by corporate insiders.

Saba Capital Income & Opportunities Fund II Trading Up 0.1 %

Shares of NYSE SABA opened at $8.85 on Thursday. Saba Capital Income & Opportunities Fund II has a 1-year low of $7.28 and a 1-year high of $9.00. The business’s 50 day moving average is $8.57 and its 200-day moving average is $8.19.

Saba Capital Income & Opportunities Fund II Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, November 29th. Investors of record on Monday, November 11th will be given a dividend of $0.058 per share. This represents a $0.70 dividend on an annualized basis and a yield of 7.86%. The ex-dividend date of this dividend is Friday, November 8th.

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.