Independent Advisor Alliance Has $740,000 Stock Position in Saba Capital Income & Opportunities Fund II (NYSE:SABA)

Independent Advisor Alliance lifted its position in Saba Capital Income & Opportunities Fund II (NYSE:SABA) by 9.1% in the 4th quarter, Holdings Channel reports. The fund owned 81,650 shares of the company’s stock after buying an additional 6,825 shares during the period. Independent Advisor Alliance’s holdings in Saba Capital Income & Opportunities Fund II were worth $740,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Penserra Capital Management LLC acquired a new stake in Saba Capital Income & Opportunities Fund II during the 3rd quarter worth about $4,780,000. Garden State Investment Advisory Services LLC acquired a new stake in shares of Saba Capital Income & Opportunities Fund II during the third quarter worth approximately $138,000. Rivernorth Capital Management LLC grew its position in Saba Capital Income & Opportunities Fund II by 37.5% during the third quarter. Rivernorth Capital Management LLC now owns 4,575,754 shares of the company’s stock valued at $38,940,000 after purchasing an additional 1,246,847 shares in the last quarter. Kovitz Investment Group Partners LLC acquired a new position in Saba Capital Income & Opportunities Fund II in the 3rd quarter valued at approximately $5,836,000. Finally, K2 Principal Fund L.P. purchased a new stake in Saba Capital Income & Opportunities Fund II in the 3rd quarter worth approximately $170,000. Institutional investors and hedge funds own 22.22% of the company’s stock.

Saba Capital Income & Opportunities Fund II Stock Performance

Saba Capital Income & Opportunities Fund II stock opened at $8.71 on Monday. Saba Capital Income & Opportunities Fund II has a 12 month low of $7.40 and a 12 month high of $9.43. The company’s fifty day simple moving average is $9.08 and its 200-day simple moving average is $8.82.

Saba Capital Income & Opportunities Fund II Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 11th will be paid a dividend of $0.058 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 8.00%. The ex-dividend date of this dividend is Tuesday, March 11th.

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.