Saba Capital Income & Opportunities Fund (NYSE:BRW) Sees Significant Increase in Short Interest

Saba Capital Income & Opportunities Fund (NYSE:BRW) saw a significant growth in short interest in the month of September. As of September 15th, there was short interest totaling 76,560 shares, a growth 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 currently 0.4 days.

Saba Capital Income & Opportunities Fund Stock Performance

NYSE:BRW traded down $0.01 during mid-day trading on Friday, hitting $6.07. 98,388 shares of the stock were exchanged, compared to its average volume of 242,278. Saba Capital Income & Opportunities Fund has a fifty-two week low of $5.99 and a fifty-two week high of $7.75. The firm’s 50-day simple moving average is $6.43 and its 200 day simple moving average is $6.60.

Saba Capital Income & Opportunities Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 9th will be given a $0.0850 dividend. This represents a $1.02 dividend on an annualized basis and a dividend yield of 16.8%. The ex-dividend date is Friday, October 9th.

Hedge Funds Weigh In On Saba Capital Income & Opportunities Fund

Several hedge funds and other institutional investors have recently made changes to their positions in BRW. Modern Wealth Management LLC lifted its position in shares of Saba Capital Income & Opportunities Fund by 11.5% during the 1st quarter. Modern Wealth Management LLC now owns 201,277 shares of the company’s stock worth $1,353,000 after buying an additional 20,794 shares during the last quarter. PFG Investments LLC acquired a new position in Saba Capital Income & Opportunities Fund in the 1st quarter valued at approximately $70,000. Peak Financial Advisors LLC increased its holdings in Saba Capital Income & Opportunities Fund by 3.8% in the first quarter. Peak Financial Advisors LLC now owns 87,938 shares of the company’s stock valued at $593,000 after purchasing an additional 3,255 shares during the period. Absolute Investment Advisers LLC raised its position in shares of Saba Capital Income & Opportunities Fund by 36.0% during the first quarter. Absolute Investment Advisers LLC now owns 995,965 shares of the company’s stock worth $6,713,000 after acquiring an additional 263,849 shares during the last quarter. Finally, Decision Investments Inc. raised its position in shares of Saba Capital Income & Opportunities Fund by 13.4% during the first quarter. Decision Investments Inc. now owns 17,800 shares of the company’s stock worth $120,000 after acquiring an additional 2,100 shares during the last quarter.

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.