Saba Closed-End Funds ETF (BATS:CEFS) Stock Short Interest Jumps 98.7%

Saba Closed-End Funds ETF (BATS:CEFS) was the target of a large growth in short interest in October. As of October 30th, there was short interest totaling 112,431 shares, a growth of 98.7% from the October 15th total of 56,577 shares. Based on an average trading volume of 95,815 shares, the short-interest ratio is presently 1.2 days. Approximately 0.6% of the shares of the company are short sold.

Saba Closed-End Funds ETF Trading Down 0.2%

BATS:CEFS traded down $0.04 during mid-day trading on Friday, hitting $23.75. 75,809 shares of the company’s stock traded hands, compared to its average volume of 90,961. Saba Closed-End Funds ETF has a 12 month low of $22.05 and a 12 month high of $25.98. The firm has a 50 day moving average of $24.39 and a two-hundred day moving average of $24.39. The firm has a market capitalization of $421.56 million, a price-to-earnings ratio of 21.88 and a beta of 0.80.

Saba Closed-End Funds ETF Increases Dividend

The firm also recently disclosed a monthly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Monday, September 28th were paid a $0.2460 dividend. The ex-dividend date was Monday, September 28th. This represents a $2.95 dividend on an annualized basis and a dividend yield of 12.4%. This is a positive change from Saba Closed-End Funds ETF’s previous monthly dividend of $0.14.

Hedge Funds Weigh In On Saba Closed-End Funds ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Arete Wealth Advisors LLC boosted its stake in Saba Closed-End Funds ETF by 14.0% in the 1st quarter. Arete Wealth Advisors LLC now owns 279,934 shares of the company’s stock worth $6,285,000 after purchasing an additional 34,370 shares during the period. XML Financial LLC grew its stake in shares of Saba Closed-End Funds ETF by 7.9% in the third quarter. XML Financial LLC now owns 291,690 shares of the company’s stock valued at $7,151,000 after acquiring an additional 21,379 shares in the last quarter. Independent Financial Group LLC bought a new stake in shares of Saba Closed-End Funds ETF in the first quarter valued at approximately $2,365,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Saba Closed-End Funds ETF during the 2nd quarter worth $221,000. Finally, NewEdge Advisors LLC grew its stake in Saba Closed-End Funds ETF by 8.6% during the first quarter. NewEdge Advisors LLC now owns 43,150 shares of the company’s stock worth $973,000 after buying an additional 3,427 shares in the last quarter.

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.