JOF 10% Owner Saba Capital Management, L.P. Buys $358K of Stock

Ten-percent owner Saba Capital Management, L.P. bought 30,000 shares of Japan Smaller Capitalization Fund, Inc. (NYSE:JOF) on October 19, 2026. According to a Form 4 filing with the SEC, the investment firm purchased the shares at a price of $11.94 each, for a total value of $358,200. The stock closed at $11.92 on the day of the transaction. This purchase follows several recent transactions by the fund across various closed-end funds this month.

JOF Japan Smaller Capitalization Fund, Inc.

$11.92 ▲ +16.29% year to date

1M 3M YTD

Daily close · Oct 19, 2026

Inside Saba Capital Management's Japan Smaller Capitalization Fund Trade

The transaction boosted Saba Capital Management's holdings in Japan Smaller Capitalization Fund to 2,742,376 shares. This marks a 1.11% increase in the owner's stake. The filing shows the shares are held directly, keeping the firm firmly positioned as a major 10% owner in the closed-end fund.

Other Institutional Activity in Japan Smaller Capitalization Fund

Allspring Global Investments Holdings, LLC reduced its holdings by 592,295 shares, ending with 4,483,067 shares worth about $53,079,513. City of London Investment Management Co. Limited grew its holdings by 174,473 shares, ending with 3,894,571 shares worth about $46,111,721. Lazard Asset Management LLC grew its holdings by 60,213 shares, ending with 3,560,978 shares worth about $42,161,980. 1607 Capital Partners, LLC reduced its holdings by 860,717 shares, ending with 2,724,109 shares worth about $32,253,450. Saba Capital Management, L.P. grew its holdings by 346,955 shares, ending with 1,948,781 shares worth about $23,073,567.

Japan Smaller Capitalization Fund, Inc. Stock Down 0.7%

Shares of Japan Smaller Capitalization Fund recently traded around $11.84 as of October 20, 2026, down about 0.7% since the transaction date. The stock sits below its 50-day moving average of $12.46, but trades slightly above its 200-day moving average of $11.70. The share price is down 7.9% from its 52-week high of $12.85 and up 16.7% from its 52-week low of $10.15.

Recent Earnings

The fund posted trailing twelve-month revenue of $9,538,537 and a trailing EPS of $5.06. Its return on equity stands at 43.5%, with a net profit margin of 1504.1%.

Dividend

The fund pays an annual dividend rate of $1.15 per share, translating to a dividend yield of 9.62% based on recent trading levels. The dividend payout ratio sits at 14.0%.

About Japan Smaller Capitalization Fund, Inc.

Japan Smaller Capitalization Fund, Inc. is a closed-end equity mutual fund that invests in public equity markets in Japan. Managed by Nomura Asset Management, the fund focuses on smaller companies traded across various Japanese stock exchanges and indices. Large institutional investors frequently monitor the fund's portfolio adjustments and ownership filings for signals on asset allocation in international markets.

Bottom Line

Investors will continue watching regulatory filings to see if major owners like Saba Capital adjust their positions further. No further trades or announcements have been scheduled by the fund at this time.