Saba Capital Management Amends 13D Filing for abrdn Global Dividend Fund
Ticker: AGD · Form: SC 13D/A · Filed: Oct 15, 2024 · CIK: 1362481
| Field | Detail |
|---|---|
| Company | Abrdn Global Dynamic Dividend Fund (AGD) |
| Form Type | SC 13D/A |
| Filed Date | Oct 15, 2024 |
| Risk Level | medium |
| Pages | 4 |
| Reading Time | 5 min |
| Key Dollar Amounts | $11,801,547 |
| Sentiment | neutral |
Sentiment: neutral
Topics: activist-investor, filing-amendment, closed-end-fund
TL;DR
Saba Capital updated its 13D filing for abrdn Global Dynamic Dividend Fund. Watch for potential activist moves.
AI Summary
Saba Capital Management, L.P. filed an amendment (No. 1) to its Schedule 13D on October 15, 2024, regarding its holdings in abrdn Global Dynamic Dividend Fund. Saba Capital Management, L.P. is listed as the filer, with Boaz R. Weinstein and Saba Capital Management GP, LLC as group members. The filing pertains to the common shares of the abrdn Global Dynamic Dividend Fund.
Why It Matters
This amendment signals potential changes in Saba Capital's stake or strategy concerning the abrdn Global Dynamic Dividend Fund, which could impact the fund's share price and governance.
Risk Assessment
Risk Level: medium — Schedule 13D filings, especially amendments, often indicate a significant investor's intention to influence or take a more active role in a company, which can lead to volatility.
Key Numbers
- 20241015 — Filing Date (Date of the Schedule 13D/A amendment)
Key Players & Entities
- Saba Capital Management, L.P. (company) — Filer of the Schedule 13D/A
- abrdn Global Dynamic Dividend Fund (company) — Subject company of the filing
- Boaz R. Weinstein (person) — Group member of the filer
- Saba Capital Management GP, LLC (company) — Group member of the filer
FAQ
What is the primary purpose of this Schedule 13D/A filing?
This filing is an amendment (No. 1) to Saba Capital Management, L.P.'s Schedule 13D, indicating a change in its previous filing regarding holdings in abrdn Global Dynamic Dividend Fund.
Who is the filer of this amendment?
The filer is Saba Capital Management, L.P., with Boaz R. Weinstein and Saba Capital Management GP, LLC identified as group members.
What is the subject company of this filing?
The subject company is abrdn Global Dynamic Dividend Fund.
What class of securities is being reported?
The filing reports on the Common Shares, No par value, of abrdn Global Dynamic Dividend Fund.
When was this amendment filed?
This amendment was filed on October 15, 2024.
Filing Stats: 1,291 words · 5 min read · ~4 pages · Grade level 12.8 · Accepted 2024-10-15 18:34:43
Key Financial Figures
- $11,801,547 — ported herein. A total of approximately $11,801,547 was paid to acquire the Common Shares r
Filing Documents
- formsc13da.htm (SC 13D/A) — 55KB
- 0001062993-24-017691.txt ( ) — 57KB
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: October 15, 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. 00302M106 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 10/1/2024 Sell 17,758 10.50 10/8/2024 Sell 22,200 10.42 10/10/2024 Sell 5,301 10.50 10/11/2024 Sell 13,783 10.51