Saba CEFS ETF changes distribution frequency to quarterly, raises rate
Saba Opportunistically Hedged Closed-End Funds ETF (CEFS) is shifting from monthly to quarterly distributions and targeting an annualized rate of 12% of net asset value.
Oklahoma City, OK – Saba Opportunistically Hedged Closed-End Funds ETF (Cboe BZX: CEFS) has announced changes to its shareholder distribution rate and frequency, effective September 25, 2026. The adjustments were made based on a recommendation from the fund's sub-adviser, Saba Capital Management, L.P.
The exchange-traded fund will now seek to pay distributions at an annualized rate of 12% of its net asset value (NAV), transitioning from monthly to quarterly payouts. The first distribution under this new policy, amounting to $0.246 per share, is scheduled for September 30, 2026.
Paul Kazarian, Partner and Portfolio Manager at Saba Capital Management, stated that the change reflects the firm's conviction in opportunities within the closed-end fund market and its commitment to shareholder value. He also noted that the quarterly schedule provides greater portfolio management flexibility.
The fund's distributions may exceed its income and gains, potentially resulting in a return of capital (ROC). ROC reduces a shareholder's original investment and should not be mistaken for yield or income. The targeted distribution rate is not guaranteed, and there is no assurance that the fund's objectives will be met or that distributions will be made. Investors could lose money.