Saba Capital Income & Opportunities Fund (NYSE:BRW) Sees Large Growth in Short Interest

Saba Capital Income & Opportunities Fund (NYSE:BRW) was the recipient of a significant increase in short interest in the month of September. As of September 15th, there was short interest totaling 76,560 shares, an increase of 59.8% from the August 31st total of 47,897 shares. Based on an average daily volume of 195,478 shares, the days-to-cover ratio is presently 0.4 days.

Saba Capital Income & Opportunities Fund Stock Up 1.1%

BRW traded up $0.07 during trading on Thursday, reaching $6.08. 443,405 shares of the company’s stock were exchanged, compared to its average volume of 243,307. The business has a 50 day moving average price of $6.44 and a 200 day moving average price of $6.61. Saba Capital Income & Opportunities Fund has a fifty-two week low of $5.99 and a fifty-two week high of $7.75.

Saba Capital Income & Opportunities Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 9th were issued a dividend of $0.0850 per share. This represents a $1.02 dividend on an annualized basis and a dividend yield of 16.8%. The ex-dividend date of this dividend was Wednesday, September 9th.

Institutional Trading of Saba Capital Income & Opportunities Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Parallel Advisors LLC increased its holdings in Saba Capital Income & Opportunities Fund by 25.2% during the 1st quarter. Parallel Advisors LLC now owns 8,556 shares of the company’s stock valued at $58,000 after purchasing an additional 1,722 shares in the last quarter. Decision Investments Inc. raised its position in Saba Capital Income & Opportunities Fund by 13.4% in the 1st quarter. Decision Investments Inc. now owns 17,800 shares of the company’s stock valued at $120,000 after purchasing an additional 2,100 shares during the last quarter. TrueMark Investments LLC boosted its stake in Saba Capital Income & Opportunities Fund by 5.4% in the first quarter. TrueMark Investments LLC now owns 55,892 shares of the company’s stock worth $377,000 after purchasing an additional 2,856 shares in the last quarter. Peak Financial Advisors LLC grew its holdings in shares of Saba Capital Income & Opportunities Fund by 3.8% during the first quarter. Peak Financial Advisors LLC now owns 87,938 shares of the company’s stock worth $593,000 after purchasing an additional 3,255 shares during the last quarter. Finally, Integrated Wealth Concepts LLC bought a new stake in shares of Saba Capital Income & Opportunities Fund during the second quarter worth $29,000.

Saba Capital Income & Opportunities Fund Company Profile

Saba Capital Income & Opportunities Fund is a closed-ended fixed income mutual fund launched by Voya Investment Management LLC. The fund is managed by Saba Capital Management, L.P. It invests in the fixed income markets of the United States. The fund seeks to invest in securities of companies operating across diversified sectors. It primarily invests in floating rate secured senior loans, with an emphasis on top-tier, non-investment grade senior loans. The fund seeks to invest in loans with maturities of one to ten years.