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

Saba Capital Income & Opportunities Fund (NYSE:BRW) was the target of a large increase in short interest during 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 trading volume, of 195,478 shares, the days-to-cover ratio is currently 0.4 days.

Saba Capital Income & Opportunities Fund Trading Down 1.1%

Shares of BRW traded down $0.07 during mid-day trading on Wednesday, reaching $6.01. The company had a trading volume of 578,308 shares, compared to its average volume of 242,237. Saba Capital Income & Opportunities Fund has a 1-year low of $5.99 and a 1-year high of $7.75. The company’s 50 day simple moving average is $6.44 and its 200 day simple moving average is $6.61.

Saba Capital Income & Opportunities Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 9th will be issued a dividend of $0.0850 per share. This represents a $1.02 annualized dividend and a dividend yield of 17.0%. The ex-dividend date is Wednesday, September 9th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of 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 valued at $1,353,000 after acquiring an additional 20,794 shares during the period. PFG Investments LLC acquired a new position in shares of Saba Capital Income & Opportunities Fund during the first quarter valued at about $70,000. Peak Financial Advisors LLC raised 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 valued at $593,000 after purchasing an additional 3,255 shares during the period. Absolute Investment Advisers LLC boosted its position in shares of Saba Capital Income & Opportunities Fund by 36.0% during the 1st quarter. Absolute Investment Advisers LLC now owns 995,965 shares of the company’s stock worth $6,713,000 after purchasing an additional 263,849 shares in the last quarter. Finally, Decision Investments Inc. boosted its position in shares of Saba Capital Income & Opportunities Fund by 13.4% during the 1st quarter. Decision Investments Inc. now owns 17,800 shares of the company’s stock worth $120,000 after purchasing an additional 2,100 shares in the last quarter.

About Saba Capital Income & Opportunities Fund

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.