Saba Funds Renew Buyback Plans Covering Up to 10% of Shares

The boards of Saba Capital Income & Opportunities Fund (NYSE: BRW) and Saba Capital Income & Opportunities Fund II (NYSE: SABA) renewed separate buyback authorizations Monday, Nov. 2, 2026, covering up to 10% of each fund’s common shares.

The programs run through the fiscal year ending Oct. 31, 2027. Each fund’s investment adviser may decide whether to make open-market purchases and how many shares to buy. The authorizations set no dollar cap and do not require either fund to repurchase shares.

The programs are intended to increase net asset value (NAV) and reduce the gap between NAV and the market price per share. They do not guarantee purchases, higher share prices or increased shareholder value.

BRW’s portfolio schedule for July 31, 2026, listed 4,169,010 shares of Grayscale Ethereum Classic Trust, a security that provides exposure to Ethereum Classic (ETC). The position was valued at $14,007,863, or 3.78% of net assets. The Nov. 2 renewal did not mention the holding.