Saba Capital Management Files 13D for abrdn Total Dynamic Dividend Fund
Ticker: AOD · Form: SC 13D · Filed: Aug 2, 2024 · CIK: 1379400
| Field | Detail |
|---|---|
| Company | Abrdn Total Dynamic Dividend Fund (AOD) |
| Form Type | SC 13D |
| Filed Date | Aug 2, 2024 |
| Risk Level | medium |
| Pages | 8 |
| Reading Time | 10 min |
| Key Dollar Amounts | $0.001, $47,412,261 |
| Sentiment | neutral |
Sentiment: neutral
Topics: activist-investor, closed-end-fund, ownership-change
TL;DR
**SABA CAPITAL TAKES STAKE IN ABRDN DIVIDEND FUND**
AI Summary
Saba Capital Management, L.P. has filed a Schedule 13D, indicating a change in beneficial ownership of abrdn Total Dynamic Dividend Fund. The filing, dated August 2, 2024, does not specify the exact number of shares or percentage owned, but signals a significant stake by Saba Capital Management. This filing is a routine disclosure for entities acquiring more than 5% of a company's stock.
Why It Matters
This filing signals that Saba Capital Management, a known activist investor in closed-end funds, may be taking a significant position in abrdn Total Dynamic Dividend Fund, potentially leading to changes in fund management or strategy.
Risk Assessment
Risk Level: medium — The filing indicates a change in beneficial ownership by a known activist investor, which could lead to strategic shifts or proxy contests.
Key Players & Entities
- Saba Capital Management, L.P. (company) — Filing entity
- abrdn Total Dynamic Dividend Fund (company) — Subject company
- Boaz R. Weinstein (person) — Group member of Saba Capital Management
FAQ
What is the exact percentage of abrdn Total Dynamic Dividend Fund's common shares beneficially owned by Saba Capital Management, L.P. as of August 2, 2024?
The provided filing excerpt does not specify the exact percentage or number of shares owned by Saba Capital Management, L.P. as of August 2, 2024. It only indicates that a Schedule 13D has been filed.
What was the previous name of abrdn Total Dynamic Dividend Fund?
The previous name of abrdn Total Dynamic Dividend Fund was Aberdeen Total Dynamic Dividend Fund, with a name change date of May 8, 2018. Prior to that, it was known as Alpine Total Dynamic Dividend Fund, with a name change date of October 27, 2006.
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 CUSIP number for the common shares of abrdn Total Dynamic Dividend Fund?
The CUSIP number for the common shares of abrdn Total Dynamic Dividend Fund is 00326L100.
Under which act was this Schedule 13D filing made?
This Schedule 13D filing was made under the Securities Exchange Act of 1934.
Filing Stats: 2,491 words · 10 min read · ~8 pages · Grade level 11.8 · Accepted 2024-08-02 12:10:51
Key Financial Figures
- $0.001 — D FUND (Name of Issuer) Common Shares, $0.001 par value (Title of Class of Securities
- $47,412,261 — ported herein. A total of approximately $47,412,261 was paid to acquire the Common Shares r
Filing Documents
- formsc13d.htm (SC 13D) — 85KB
- exhibit1.htm (EX-1) — 4KB
- 0001062993-24-014350.txt ( ) — 91KB
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: August 2, 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. 00326L100 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 889 8.18 6/4/2024 Buy 55,368 8.23 6/5/2024 Buy 222,099 8.36 6/7/2024 Buy 11,017 8.38 6/11/2024 Buy 100 8.31 6/13/2024 Buy 18,324 8.37 6/14/2024 Buy 3,000 8.30 6/17/2024 Buy 140,536 8.38 6/18/2024 Buy 64,775 8.43 6/24/2024 Buy 107,841 8.37 6/25/2024 Buy 7,100 8.35 6/26/2024 Buy 7,374 8.35 6/28/2024 Buy 56,780 8.38 7/1/2024 Buy 141,199 8.40 7/2/2024 Buy 59,368 8.37 7/3/2024 Buy 55,823 8.42 7/5/2024 Buy 40,651 8.51 7/8/2024 Buy 53,753 8.53 7/9/2024 Buy 16,257 8.52 7/10/2024 Buy 79,542 8.60 7/11/2024 Buy 234,282 8.63 7/12/2024 Buy 114,199 8.73 7/15/2024 Buy 226,237 8.65 7/16/2024 Buy 118,240 8.73 7/17/2024 Buy 315,445 8.68 7/18/2024 Buy 275,776 8.66 7/19/2024 Buy 177,762 8.56 7/22/2024 Buy 11,694 8.64 7/23/2024 Buy