Saba Capital Amends BlackRock Health Sciences Term Trust Stake
Ticker: BMEZ · Form: SC 13D/A · Filed: Jan 31, 2024 · CIK: 1785971
| Field | Detail |
|---|---|
| Company | Blackrock Health Sciences Term Trust (BMEZ) |
| Form Type | SC 13D/A |
| Filed Date | Jan 31, 2024 |
| Risk Level | medium |
| Pages | 5 |
| Reading Time | 6 min |
| Key Dollar Amounts | $0.001, $272,519,391 |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: activist-investing, ownership-change, closed-end-fund
TL;DR
**Saba Capital updated its BlackRock Health Sciences Term Trust stake, signaling potential future activist moves.**
AI Summary
Saba Capital Management, L.P. filed an amendment (SC 13D/A) on January 31, 2024, updating its beneficial ownership in BlackRock Health Sciences Term Trust. This filing indicates a change in their holdings, specifically noting the date of the event requiring this filing as January 29, 2024. This matters to investors because Saba Capital is an activist investor known for engaging with closed-end funds, and changes in their stake could signal future strategic moves or influence on the fund's management, potentially impacting the stock's value.
Why It Matters
Saba Capital is an activist investor; changes in their ownership of BlackRock Health Sciences Term Trust could signal upcoming pressure for changes or a shift in their investment strategy, potentially affecting the fund's share price.
Risk Assessment
Risk Level: medium — The risk is medium because activist investor involvement can lead to volatility, but also potential positive changes for shareholders.
Analyst Insight
Investors should monitor future filings from Saba Capital Management, L.P. regarding BlackRock Health Sciences Term Trust for further insights into their strategy and potential impact on the fund's governance or structure.
Key Players & Entities
- Saba Capital Management, L.P. (company) — the filing person and activist investor
- BlackRock Health Sciences Term Trust (company) — the subject company (issuer) of the securities
- BOAZ R. WEINSTEIN (person) — group member of Saba Capital Management
- SABA CAPITAL MANAGEMENT GP, LLC (company) — group member of Saba Capital Management
- Michael D'Angelo (person) — contact person for Saba Capital Management
- $0.001 (dollar_amount) — par value of Common Shares
Forward-Looking Statements
- Saba Capital Management, L.P. will continue to be an active shareholder in BlackRock Health Sciences Term Trust. (Saba Capital Management, L.P.) — high confidence, target: 2025-01-31
FAQ
Who filed this SC 13D/A amendment?
This SC 13D/A amendment was filed by Saba Capital Management, L.P., along with group members BOAZ R. WEINSTEIN and SABA CAPITAL MANAGEMENT GP, LLC.
What is the subject company of this filing?
The subject company, or issuer, of the securities is BlackRock Health Sciences Term Trust, with CIK 0001785971.
What is the date of the event that required this filing?
The date of the event which required the filing of this statement was January 29, 2024.
What is the title and par value of the class of securities involved?
The title of the class of securities is Common Shares, with a par value of $0.001.
What is the CUSIP number for the securities mentioned in the filing?
The CUSIP number for the Common Shares of BlackRock Health Sciences Term Trust is 09260E105.
Filing Stats: 1,380 words · 6 min read · ~5 pages · Grade level 10.4 · Accepted 2024-01-31 06:52:02
Key Financial Figures
- $0.001 — rust (Name of Issuer) Common Shares, $0.001 par value (Title of Class of Securiti
- $272,519,391 — ported herein. A total of approximately $272,519,391 was paid to acquire the Common Shares r
Filing Documents
- formsc13da.htm (SC 13D/A) — 68KB
- 0001062993-24-001626.txt ( ) — 70KB
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: January 31, 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. 09260E105 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 since the filing of the Schedule 13D/A on 12/26/23. All transactions were effectuated in the open market through a broker. Trade Date Buy/Sell Shares Price 1/11/2024 Buy 72,085 15.17 1/12/2024 Buy 146,455 15.23 1/16/2024 Buy 19,207 15.10 1/17/2024 Buy 97,985 14.94 1/18/2024 Buy 41,792 14.89 1/19/2024 Buy 119,498 14.94 1/22/2024 Buy 54,477 15.06 1/23/2024 Buy 43,368 15.03 1/24/2024 Buy 113,312 15.13 1/25/2024 Buy 206,066 15.16 1/26/2024 Buy 347,814 15.26 1/29/2024 Buy 264,206 15.41 1/30/2024 Buy 59,239 15.49