Saba Capital Management Files 13D on abrdn Global Dynamic Dividend Fund
Ticker: AGD · Form: SC 13D · Filed: Jul 25, 2024 · CIK: 1362481
| Field | Detail |
|---|---|
| Company | Abrdn Global Dynamic Dividend Fund (AGD) |
| Form Type | SC 13D |
| Filed Date | Jul 25, 2024 |
| Risk Level | medium |
| Pages | 8 |
| Reading Time | 10 min |
| Key Dollar Amounts | $11,970,295 |
| Sentiment | neutral |
Sentiment: neutral
Topics: activist-investor, 13d-filing, closed-end-fund
TL;DR
**SABA CAPITAL TAKES STAKE IN ABRDN DIVIDEND FUND**
AI Summary
Saba Capital Management, L.P. has filed a Schedule 13D on July 25, 2024, regarding abrdn Global Dynamic Dividend Fund. Saba Capital Management, L.P. is reporting beneficial ownership of the issuer's common shares. The filing indicates a change in reporting or a new filing related to this entity.
Why It Matters
This filing signals potential activist investor interest or a significant stake taken by Saba Capital Management in abrdn Global Dynamic Dividend Fund, which could lead to changes in the fund's strategy or management.
Risk Assessment
Risk Level: medium — Schedule 13D filings often indicate a significant stake by an investor, which can lead to increased volatility or strategic shifts in the target company.
Key Players & Entities
- Saba Capital Management, L.P. (company) — Filer of the Schedule 13D
- abrdn Global Dynamic Dividend Fund (company) — Subject company of the Schedule 13D
- Boaz R. Weinstein (person) — Group Member of Saba Capital Management
- Saba Capital Management GP, LLC (company) — Group Member of Saba Capital Management
FAQ
Who is filing the Schedule 13D?
Saba Capital Management, L.P. is filing the Schedule 13D.
What is the subject company of the filing?
The subject company is abrdn Global Dynamic Dividend Fund.
What class of securities is being reported?
Common Shares, No par value.
When was the filing date?
The filing was made on July 25, 2024.
What is the CUSIP number for the securities?
The CUSIP number is 00302M106.
Filing Stats: 2,441 words · 10 min read · ~8 pages · Grade level 12.9 · Accepted 2024-07-25 16:15:40
Key Financial Figures
- $11,970,295 — ported herein. A total of approximately $11,970,295 was paid to acquire the Common Shares r
Filing Documents
- formsc13d.htm (SC 13D) — 72KB
- exhibit1.htm (EX-1) — 5KB
- 0001062993-24-014083.txt ( ) — 78KB
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: July 25, 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 Page 10 of 10 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 6/3/2024 Buy 1,215 9.56 6/5/2024 Buy 27,439 9.73 6/7/2024 Buy 40,457 9.72 6/10/2024 Buy 10,918 9.68 6/11/2024 Buy 3,133 9.66 6/20/2024 Buy 37,156 9.72 6/21/2024 Buy 6,408 9.65 6/24/2024 Buy 39,613 9.71 6/28/2024 Buy 6,900 9.75 7/1/2024 Buy 28,599 9.75 7/2/2024 Buy 10,361 9.75 7/2/2024 Buy 369 9.78 7/3/2024 Buy 7,262 9.79 7/5/2024 Buy 67,012 9.86 7/9/2024 Buy 34,017 9.83 7/10/2024 Buy 3,271 9.93 7/11/2024 Buy 65,172 10.00 7/12/2024 Buy 14,637 10.10 7/15/2024 Buy 27,713 10.10 7/16/2024 Buy 2,208 10.14 7/18/2024 Buy 39,124 10.02 7/19/2024 Buy 29,082 9.93