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Saba Opportunistically Hedged Closed-End Funds ETF (CEFS) Announces Changes to Distribution Rate and Frequency

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Fund Will Move from Monthly to Quarterly Distributions

OKLAHOMA CITY, Oct. 2, 2026 /PRNewswire/ — Saba Opportunistically Hedged Closed-End Funds ETF (Cboe BZX: CEFS) (the “Fund”) today announced changes to the rate and frequency of the Fund’s distributions to shareholders, based on the recommendation of the Fund’s sub-adviser, Saba Capital Management, L.P. (“Saba”).

Effective September 25, 2026, the Fund will seek to pay distributions at an annualized rate of 12% of the Fund’s net asset value (“NAV”) and will pay distributions quarterly rather than monthly. The first distribution pursuant to the modified distribution policy will be $0.246 per share payable on September 30, 2026 to shareholders of record on September 28, 2026. The ex-distribution date is September 28, 2026.

“We are pleased to raise CEFS’s distribution rate to 12%, which reflects Saba’s conviction in the opportunities we continue to see across the closed-end fund market and our commitment to delivering value to the Fund’s shareholders. Moving to a quarterly schedule also provides greater flexibility in managing the portfolio as we pursue attractive risk-adjusted returns through our hedged approach.”
— Paul Kazarian, Partner and Portfolio Manager, Saba Capital Management, L.P. 

The Fund expects to pay distributions at a rate based on a fixed percentage of the Fund’s NAV at a particular time. The Fund seeks, but cannot guarantee, a total return sufficient, after expenses, to support a 12% annual distribution rate. The distribution rate and frequency may be changed at any time. The Fund’s quarterly distributions may exceed the Fund’s income and gains, in which case some or all of a distribution may constitute a return of capital (“ROC”). A ROC reduces the amount of a shareholder’s original investment and may result in the return to investors of the entire amount of their original investment. A ROC should not be confused with yield or income, and it is not a reflection of the Fund’s investment performance.

Section 19(a) of the Investment Company Act of 1940, as amended (the “1940 Act”), and Rule 19a-1 thereunder require the Fund to provide a written statement accompanying any distribution paid from a source other than net investment income, adequately disclosing its source or sources. Thus, if the source of a distribution were the original capital contribution of a shareholder, and the payment amounted to a return of capital, the Fund would be required to provide written disclosure to that effect. Fund shareholders should read any written disclosure provided pursuant to Section 19(a) and Rule 19a-1 carefully and should not assume that the source of any distribution from the Fund is net income or net profit.

At the time of each distribution, the Fund’s estimate of the sources of that distribution will be posted to https://sabaetf.com/ and provided to shareholders in a concurrent notice. These estimates may change, because the final tax characteristics of the Fund’s distributions cannot be determined with certainty until after the end of the calendar year. Final tax characteristics of all of the Fund’s distributions will be provided on Form 1099-DIV, which is mailed after the close of the calendar year.

The target distribution rate is not guaranteed, nor does it represent a fixed amount of yield or total return. There is also no guarantee that the Fund’s investment objective will be met, that the Fund’s investment strategy will be properly implemented, and that any amount of distributions will be made. You could lose money.

About Saba Opportunistically Hedged Closed-End Funds ETF (CEFS)

CEFS is an actively managed exchange-traded fund (“ETF”) that seeks to provide capital appreciation and dividend income by investing in closed-end funds trading at a discount to net asset value, while opportunistically hedging interest rate risk and broader portfolio market exposure.

About Saba Capital Management, L.P.

Saba Capital Management, L.P. is a $6.8bn[1] SEC-registered investment adviser founded in 2009 by Boaz Weinstein.

Registration with the SEC does not imply a certain level of skill or training.

About Exchange Traded Concepts

Exchange Traded Concepts, LLC is an SEC-registered investment adviser specializing in white-label ETFs, sub-advisory, portfolio management, fund marketing and consulting services. ETC works with asset managers to bring ETF strategies to market. Registration with the SEC does not imply a certain level of skill or training.

exchangetradedconcepts.com

Important Disclosures

Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a prospectus or summary prospectus containing this and other information about the Fund, please call +1 888-615-4310 or visit sabaetf.com. Read the prospectus or summary prospectus carefully before investing.

Investing involves risk. Principal loss is possible. There is no guarantee that the Fund will achieve its investment objective.

Shares of the Fund are bought and sold at market price, not net asset value, and may trade at a premium or discount to net asset value. Brokerage commissions will reduce returns. Shares are not individually redeemable and may be redeemed only in creation units through an authorized participant.

Because the Fund is a “fund of funds,” its investment performance largely depends on the investment performance of the underlying funds in which it invests, and the Fund is subject to the risks associated with the underlying funds. Leverage may increase the risk of loss and cause fluctuations in the market value of the Fund’s portfolio to have disproportionately large effects or cause the NAV of the Fund generally to decline faster than it would otherwise. Derivatives may be more sensitive to changes in market conditions, amplifying risks. High-yield bonds have a higher risk of default or other adverse credit events but have the potential to pay higher earnings over investment grade bonds. The higher risk of default, or the inability of the creditor to repay its debt, is the primary reason for the higher interest rates on high yield bonds.

Exchange Traded Concepts, LLC serves as the investment adviser to the Fund. Saba Capital Management, L.P. serves as sub-adviser to the Fund and is responsible for investment decisions. The Fund is distributed by Foreside Fund Services, LLC. Foreside Fund Services, LLC is not affiliated with Exchange Traded Concepts, LLC, Saba Capital Management, L.P., or any of their affiliates.

___________________

1 AUM as of 9/1/26

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SOURCE Saba Capital Management, L.P.

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Federal scientists warn Bill C-39 puts independent science at risk

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ST. JOHN’S, NL, Oct. 2, 2026 /CNW/ — Federal scientists rallied in downtown St. John’s today to push back against Bill C-39 and warn that the federal government is weakening the science, expertise and independent institutions Canada relies on to keep people and the environment safe.

Members of the Professional Institute of the Public Service of Canada’s Applied Science and Patent Examination Group (SP), including scientists at Fisheries and Oceans Canada, took to the streets as the government moves to accelerate major-project reviews, expand the use of predetermined findings and require economic feasibility to be considered when setting certain environmental safeguards.

“Our leaders should make informed decisions using rigorous and independent science,” said Bryan Van Wilgenburg, President of PIPSC’s Applied Science and Patent Examination Group. “You cannot cut scientists and rush expert reviews without risking disaster.”

Taken together, PIPSC says the changes threaten the integrity of evidence-based decision-making while federal science is already under pressure from cuts, staffing shortages, and recruitment and retention challenges.

Bill C-39 would allow required determinations, findings and opinions for some qualifying projects to be deemed favourable before the professional work that normally informs those decisions is complete. It would also push toward faster, more consolidated reviews and require decision-makers under several environmental laws to consider the technical, economic and practical feasibility of conditions placed on projects.

“When the government rushes reviews or predetermines findings, it risks undermining the independence of the experts protecting our environment, communities and public safety,” said Van Wilgenburg. “We shouldn’t prioritize short-term profits over sustainable economics and public safety.”

The SP Group is currently at the bargaining table with the federal government and has chosen the conciliation/strike route for this round of negotiations, amid growing concerns about cuts to public science, shrinking capacity and threats to evidence-based decision-making.

“This government needs to understand that scientists don’t take the possibility of a strike lightly,” said Bryan Van Wilgenburg, President of PIPSC’s Applied Science and Patent Examination Group. “Our members are bringing forward solutions at the bargaining table. The government has a responsibility to work with us and get a fair deal done.”

PIPSC says the same contradiction runs through both Bill C-39 and the pressures facing federal scientists at the bargaining table: government is demanding faster approvals and more from public-service experts while weakening the expertise and capacity needed to do that work properly.

“We want to send a clear message to the federal government to reverse the cuts to our public service, protect and strengthen evidence-based research, and keep their hands off the right to strike,” said Jessica McCormick, President of the Newfoundland and Labrador Federation of Labour. “Our country cannot be strengthened by eroding workers’ fundamental rights or our ability to make decisions based on independent and strong research.”

Building a strong Canada means strengthening the scientists, engineers, regulators and other experts who turn government commitments into reality. Canada’s strength did not happen by accident, and weakening the expertise the country has spent decades building puts that strength at risk.

PIPSC is calling on the federal government to protect independent scientific and professional judgment, invest in public-service expertise and ensure that faster project approvals do not come at the expense of evidence, environmental safeguards or public safety.

“Building Canada cannot mean weakening the very people and institutions that keep it strong,” said Van Wilgenburg.

PIPSC represents over 80,000 public-sector professionals across the country, most of them employed by the federal government. Follow us on Facebook, Bluesky, and Instagram.

SOURCE Professional Institute of the Public Service of Canada (PIPSC)

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TPRA Media – Aligned with UAE AI Strategy 2031: Credibility Engineering for a Machine-Readable Nation

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84% of AI citations draw on verified media as structured archiving is urged to safeguard UAE national milestones

DUBAI, UAE, Oct. 2, 2026 /PRNewswire/ — Public relations was never defined by ink, airtime or a distribution channel. It has always been earned credibility: third-party validation, stories others choose to amplify, and the ability to shape perception when the institution is not in the room. That core has not changed. What has changed, according to a study by TPRA Media on digital communications and knowledge governance, is the surface credibility now travels on.

In the UAE, that evolution is accelerating. Official releases from government departments and public entities are no longer only real-time press products. They have become sovereign knowledge assets — the ground truth from which generative AI engines answer citizens, investors and global users seeking verified insight on the nation’s socioeconomic landscape.

The shift arrives as the country advances the UAE National Strategy for Artificial Intelligence 2031 and leads MENA with a 75% enterprise AI adoption rate, according to the Arab Media in the Age of AI report by the Dubai Press Club and Deloitte. Public sector communications can no longer be measured by raw impressions. It must build persistent, verified digital authority so national achievements are protected against algorithmic hallucination and distortion.

Credibility engineering, not coverage volume

Reem Masswadeh, Strategic Communications and Reputation Management Expert at TPRA Media, said the profession’s essence is intact; only the discovery layer has moved.

“PR was never the press release. It was always earned credibility,” Masswadeh said. “Artificial intelligence does not manufacture that credibility. It identifies, validates and reorganises persistent digital signals. A government announcement now derives its value from long-term discoverability, verifiability and relevance as an algorithmic citation.”

Research across generative AI ecosystems shows chatbots draw about 84% of citations and contextual inputs from earned media and independent reporting in reputable outlets, based on analysis of more than 25 million cited links. Brand websites and paid placements barely register.

“This underlines the irreplaceable role of verified journalism in keeping large language models grounded,” she noted. “Authoritative coverage is citation fuel. Unstructured archives do the opposite: they create vacuums that models fill with unverified third-party claims.”

She said teams must leave vanity metrics behind and practise credibility engineering: building informational credit that still holds after the news cycle ends.

“Institutions no longer compete only for media space or search rankings,” she said. “They compete on the quality of their information inside a system AI tools use to answer, interpret and compare.”

The study calls this urgent in the UAE, one of the world’s most AI-saturated markets, where generative tools are becoming default discovery for a young, multilingual population. In that landscape, Masswadeh said, “traditional versus new media” collapses. What AI privileges is what strong PR has always produced: independent, authoritative signals.

From announcement to sovereign knowledge asset

The white paper concludes that official content must be archived as structured, reusable knowledge, not left as a one-day media hit. Collaboration between academic institutions and public communications bodies is required if verified national achievements are to remain the baseline for AI platforms worldwide.

Masswadeh’s test is practical: if an achievement cannot be discovered, verified and cited by a machine six months later, it has not been secured.

“PR never dies,” she said. “It evolves. In the UAE, that evolution is no longer optional. Credibility has to be engineered — or it will be inferred by someone else.”

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For the First Time, the Public Can Step Inside Walt Disney’s Personal Airplane to See Its Newly Restored Interior at Palm Springs Air Museum

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PALM SPRINGS, Calif., Oct. 2, 2026 /PRNewswire/ — For the first time the public, without being members of D23, can tour the newly restored interior of Walt Disney’s last personal airplane. Five exclusive Grumman G-1 Interior Tour Experiences are scheduled at the Palm Springs Air Museum, 745 N. Gene Autry Trail, Palm Springs, CA.

During each two-hour experience, guests will have the rare opportunity to tour the newly restored interior. The evening also includes light refreshments and a featured keynote presentation from speakers connected to the aircraft and the Walt Disney Company. Experiences are only $65 for general admission; $50 for Palm Springs Air Museum members. Kids 12 & under are free with paid adult admission. Attendance is limited, making this a truly rare experience for Disney and aviation fans alike. Tickets may be purchased online at https://palmspringsairmuseum.org/walt-disneys-gulfstream-i/. 

Doors open at 6 PM; confirmed dates and speakers are:

Saturday, October 17, 2026
Mark Malone, Former Captain, Walt Disney Productions Gulfstream I; Historical Consultant to the Aircraft Restoration
Ed Ovalle, Archives Manager, Walt Disney Archives, The Walt Disney Company

Saturday, January 16, 2027
Rebecca Cline
Director, Walt Disney Archives, The Walt Disney Company

February 20, 2027
Ed Ovalle
Archives Manager, Walt Disney Archives, The Walt Disney Company

March 6, 2027
Bob Gurr
Disney Legend and Former Walt Disney Imagineer

April 3, 2027
Ed Ovalle
Archives Manager, Walt Disney Archives, The Walt Disney Company

Plus, each event will feature its own unique, limited-edition T-shirt available for purchase that evening. For those coming from out of town, special room rates are available through https://www.hilton.com/en/book/reservation/deeplink/?ctyhocn=PSPCCHW&srpCodes=LHWP87.

The Palm Springs Air Museum contains over 80 vintage airframes from World War II, the Korean War, and the Vietnam War contained in 91,000 square feet of open hangars and on the tarmac. Additional displays and memorabilia are located throughout the hangar facilities. Hours are 10 am to 5 pm. Admission rates are $26 for adults and $24 for seniors, teens 13 – 17, and retired military. Kids 12 and under get in free with paid adult admission. Active military and immediate family are free with ID. For more info, visit PalmSpringsAirMuseum.org or call 760-778-6262 during business hours. The museum is closed Thanksgiving, Christmas and the first Saturday in February.

Media Contact: Ann Greer
ann@palmspringsairmuseum.org
(323) 363-8243 – cell

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SOURCE Palm Springs Air Museum

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