13D Filing: Saba Capital and Clough Global Opportunities Fund (GLO)

This Amendment No. 5 amends and supplements the statement
on Schedule 13D filed with the Securities and Exchange Commission (the
SEC) on 1/6/17, Amendment No. 1 filed on 1/27/17, Amendment No 2 filed
on 2/13/17, Amendment No 3 filed on 3/13/17, and Amendment No 4 filed on
4/10/17. Amendment No. 1, Amendment No. 2, Amendment No. 3, Amendment No.
4, Amendment No. 5, and the Original Schedule 13D, with respect to the
shares of common stock, (the Shares), of Clough Global Opportunities
Fund (the Issuer). Capitalized terms used herein and not otherwise
defined in this Amendment No. 5 have the meanings set forth in the
Original Schedule 13D, Amendment No. 1, Amendment No. 2, Amendment No. 3,
and Amendment No. 4. This Amendment No. 5 amends Items 3 and 5 as set
forth below.

SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION

Funds for the purchase of the Common Shares were derived
from the subscription proceeds from investors in SCMF, SCMF II, SCLMF,
SCS, SCEF 1 and SCEF 2 and the capital appreciation thereon and margin
account borrowings made in the ordinary course of business. In such
instances, the positions held in the margin accounts are pledged as
collateral security for the repayment of debit balances in the account,
which may exist from time to time. Since other securities are held in the
margin accounts, it is not possible to determine the amounts, if any, of
margin used to purchase the Common Shares reported herein. A total of
$62,709,505 was paid to acquire the Common Shares reported herein.

INTEREST IN SECURITIES OF THE ISSUER

See rows (11) and (13) of the cover pages to this
Schedule 13D/A for the aggregate number of Common Shares and percentages
of the Common Shares beneficially owned by each of the Reporting Persons.
The percentages used in this Schedule 13D/A are calculated based upon
51,574,059 Common Shares outstanding as of October 31, 2016 as reported in
the Issuer’s Annual Report to Shareholders on Form N-CSR filed on January
9, 2017.

See rows (7) through (10) of the cover pages to this
Schedule 13D/A for the number of Common Shares as to which each Reporting
Person has the sole or shared power to vote or direct the vote and sole or
shared power to dispose or to direct the disposition.

The transactions in the Shares effected since the filing
of the Amendment No 4 by Saba Capital, which were all in the open market,
are set forth in Schedule A, and are incorporated herein by
reference.

No person other than the Reporting Persons and the Saba
Entities is known to have the right to receive, or the power to direct the
receipt of dividends from, or proceeds