Saba Closed-End Funds ETF (BATS:CEFS) Short Interest Up 91.3% in August

Saba Closed-End Funds ETF (BATS:CEFS) was the recipient of a large increase in short interest in August. As of August 31st, there was short interest totaling 151,205 shares, an increase of 91.3% from the August 15th total of 79,052 shares. Based on an average daily volume of 74,941 shares, the days-to-cover ratio is currently 2.0 days. Currently, 1.1% of the company’s stock are sold short.

Institutional Investors Weigh In On Saba Closed-End Funds ETF

Several institutional investors and hedge funds have recently bought and sold shares of CEFS. Integrated Wealth Concepts LLC acquired a new position in Saba Closed-End Funds ETF in the second quarter valued at approximately $221,000. XML Financial LLC boosted its position in Saba Closed-End Funds ETF by 16.6% during the 2nd quarter. XML Financial LLC now owns 270,311 shares of the company’s stock valued at $6,931,000 after purchasing an additional 38,531 shares during the period. Triumph Capital Management grew its stake in Saba Closed-End Funds ETF by 3.1% during the 2nd quarter. Triumph Capital Management now owns 46,694 shares of the company’s stock worth $1,197,000 after buying an additional 1,410 shares during the last quarter. Tactive Advisors LLC grew its stake in Saba Closed-End Funds ETF by 4.6% during the 2nd quarter. Tactive Advisors LLC now owns 54,387 shares of the company’s stock worth $1,394,000 after buying an additional 2,407 shares during the last quarter. Finally, First Heartland Consultants Inc. increased its position in Saba Closed-End Funds ETF by 10.5% in the second quarter. First Heartland Consultants Inc. now owns 10,416 shares of the company’s stock worth $267,000 after buying an additional 987 shares during the period.

Saba Closed-End Funds ETF Stock Performance

CEFS opened at $24.86 on Tuesday. The company has a 50-day moving average of $25.23 and a 200-day moving average of $24.58. The company has a market capitalization of $330.64 million, a P/E ratio of 21.88 and a beta of 0.72. Saba Closed-End Funds ETF has a 1-year low of $22.05 and a 1-year high of $25.98.

Saba Closed-End Funds ETF Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, July 31st. Stockholders of record on Wednesday, July 29th were given a $0.14 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date was Wednesday, July 29th.

About Saba Closed-End Funds ETF

The Saba Closed-End Funds ETF (CEFS) is an exchange-traded fund that mostly invests in target outcome asset allocation. The fund is an actively managed fund-of-funds that seeks to generate high income by investing in closed-end funds trading at a discount to net asset value and hedging for duration risk. CEFS was launched on Mar 21, 2017 and is managed by Saba.