Saba Capital Amends Stake in AllianceBernstein Muni Fund
Ticker: AFB · Form: SC 13D/A · Filed: Apr 24, 2024 · CIK: 1162027
| Field | Detail |
|---|---|
| Company | Alliancebernstein National Municipal Income Fund (AFB) |
| Form Type | SC 13D/A |
| Filed Date | Apr 24, 2024 |
| Risk Level | medium |
| Pages | 4 |
| Reading Time | 5 min |
| Key Dollar Amounts | $0.001, $27,479,624 |
| Sentiment | neutral |
Sentiment: neutral
Topics: activist-investor, amendment, municipal-bonds
TL;DR
Saba Capital filed an update on their AllianceBernstein Muni Fund stake. Watch this space.
AI Summary
Saba Capital Management, L.P. has filed an amendment (Amendment No. 3) to its Schedule 13D on April 24, 2024, regarding its holdings in AllianceBernstein National Municipal Income Fund. The filing indicates a change in the reporting person's beneficial ownership, though specific new dollar amounts or percentage changes are not detailed in this excerpt.
Why It Matters
This filing signals potential shifts in activist investor Saba Capital's strategy or holdings within the AllianceBernstein National Municipal Income Fund, which could influence the fund's future performance or management.
Risk Assessment
Risk Level: medium — Amendments to 13D filings often indicate changes in an activist investor's strategy or holdings, which can lead to increased volatility or strategic shifts for the target company.
Key Players & Entities
- Saba Capital Management, L.P. (company) — Reporting person filing amendment
- AllianceBernstein National Municipal Income Fund (company) — Subject company
- Boaz R. Weinstein (person) — Group member of Saba Capital
FAQ
What specific changes in beneficial ownership are detailed in Amendment No. 3?
This excerpt does not provide specific details on the exact changes in beneficial ownership, only that an amendment has been filed.
What is the CUSIP number for AllianceBernstein National Municipal Income Fund?
The CUSIP number for AllianceBernstein National Municipal Income Fund is 01864U106.
When was the previous name change for AllianceBernstein National Municipal Income Fund?
The date of the previous name change was November 8, 2001.
What is the business address of Saba Capital Management, L.P.?
The business address of Saba Capital Management, L.P. is 405 Lexington Avenue, 58th Floor, New York, NY 10174.
What is the filing date of this Schedule 13D/A amendment?
The filing date of this Schedule 13D/A amendment is April 24, 2024.
Filing Stats: 1,315 words · 5 min read · ~4 pages · Grade level 11.9 · Accepted 2024-04-24 08:36:39
Key Financial Figures
- $0.001 — FUND (Name of Issuer) Common Shares, $0.001 par value (Title of Class of Securiti
- $27,479,624 — ported herein. A total of approximately $27,479,624 was paid to acquire the Common Shares r
Filing Documents
- formsc13da.htm (SC 13D/A) — 62KB
- 0001062993-24-008741.txt ( ) — 64KB
SIGNATURES
SIGNATURES After reasonable inquiry and to the best of his or its knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct. Date: April 24, 2024 SABA CAPITAL MANAGEMENT, L.P. By: /s/ Michael D'Angelo Name: Michael D'Angelo Title: Chief Compliance Officer SABA CAPITAL MANAGEMENT GP, LLC By: /s/ Michael D'Angelo Name: Michael D'Angelo Title: Authorized Signatory BOAZ R. WEINSTEIN By: /s/ Michael D'Angelo Name: Michael D'Angelo Title: Attorney-in-fact* * Pursuant to a power of attorney dated as of November 16, 2015, which is incorporated herein by reference to Exhibit 2 to the Schedule 13G filed by the Reporting Persons on December 28, 2015, accession number: 0001062993-15-006823 CUSIP No. 01864U106 SCHEDULE 13D/A Page 7 of 7 Pages Schedule A This Schedule sets forth information with respect to each purchase and sale of Common Shares which were effectuated by Saba Capital during the past sixty days. All transactions were effectuated in the open market through a broker. Trade Date Buy/Sell Shares Price 3/7/2024 Buy 54,481 10.93 3/11/2024 Buy 6,689 10.99 3/12/2024 Buy 1,210 10.98 3/14/2024 Buy 32,717 10.91 4/11/2024 Buy 23,880 10.52 4/22/2024 Buy 22,332 10.49 4/23/2024 Buy 7,379 10.53