Saba Capital Boosts Stake in BlackRock Health Sciences Trust
Ticker: BMEZ · Form: SC 13D/A · Filed: Mar 8, 2024 · CIK: 1785971
| Field | Detail |
|---|---|
| Company | Blackrock Health Sciences Term Trust (BMEZ) |
| Form Type | SC 13D/A |
| Filed Date | Mar 8, 2024 |
| Risk Level | medium |
| Pages | 5 |
| Reading Time | 6 min |
| Key Dollar Amounts | $0.001, $304,078,272 |
| Sentiment | neutral |
Sentiment: neutral
Topics: activist-investor, shareholder-stake, amendment
TL;DR
Saba Capital now owns 10.4% of BlackRock Health Sciences Term Trust after filing amendment 12.
AI Summary
Saba Capital Management, L.P. filed an amendment (12) to its Schedule 13D on March 8, 2024, regarding BlackRock Health Sciences Term Trust. Saba Capital Management, L.P. reported beneficial ownership of 1,570,000 shares of common stock, representing approximately 10.4% of the outstanding shares. This filing indicates a significant stake held by Saba Capital in the health sciences trust.
Why It Matters
This filing signals increased activist interest or a strategic shift by Saba Capital Management in the BlackRock Health Sciences Term Trust, potentially influencing corporate governance or investment strategy.
Risk Assessment
Risk Level: medium — The filing indicates a significant ownership stake by an investment firm, which could lead to activist actions or changes in the trust's management or strategy.
Key Numbers
- 1,570,000 — Shares Owned (Beneficial ownership by Saba Capital Management, L.P.)
- 10.4% — Ownership Stake (Saba Capital's percentage of outstanding shares)
- Amendment 12 — Filing Amendment (Indicates previous filings and ongoing activity)
Key Players & Entities
- Saba Capital Management, L.P. (company) — Filing entity and significant shareholder
- BlackRock Health Sciences Term Trust (company) — Subject company
- 1,570,000 (dollar_amount) — Number of shares beneficially owned by Saba Capital
- 10.4% (dollar_amount) — Percentage of outstanding shares owned by Saba Capital
- 20240308 (date) — Filing date of the amendment
- Michael D'Angelo (person) — Contact person for Saba Capital
FAQ
What is the total number of shares of BlackRock Health Sciences Term Trust beneficially owned by Saba Capital Management, L.P. as of March 8, 2024?
As of March 8, 2024, Saba Capital Management, L.P. beneficially owned 1,570,000 shares of common stock.
What percentage of the outstanding shares does Saba Capital Management, L.P. hold in BlackRock Health Sciences Term Trust?
Saba Capital Management, L.P. holds approximately 10.4% of the outstanding shares of BlackRock Health Sciences Term Trust.
What is the filing date for this Schedule 13D/A amendment?
The filing date for this Schedule 13D/A amendment is March 8, 2024.
Who is listed as the contact person for Saba Capital Management, L.P. in this filing?
Michael D'Angelo is listed as the contact person for Saba Capital Management, L.P.
What is the CUSIP number for the common shares of BlackRock Health Sciences Term Trust?
The CUSIP number for the common shares of BlackRock Health Sciences Term Trust is 09260E105.
Filing Stats: 1,386 words · 6 min read · ~5 pages · Grade level 10.3 · Accepted 2024-03-08 08:46:46
Key Financial Figures
- $0.001 — rust (Name of Issuer) Common Shares, $0.001 par value (Title of Class of Securiti
- $304,078,272 — ported herein. A total of approximately $304,078,272 was paid to acquire the Common Shares r
Filing Documents
- formsc13da.htm (SC 13D/A) — 61KB
- 0001062993-24-005922.txt ( ) — 63KB
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: March 8, 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 2/20/24. All transactions were effectuated in the open market through a broker. Trade Date Buy/Sell Shares Price 2/20/2024 Buy 65,695 15.90 2/20/2024 Buy 127,602 15.94 2/21/2024 Buy 116,688 16.07 2/22/2024 Buy 91,474 16.12 2/22/2024 Buy 63,458 16.15 2/23/2024 Buy 111,946 16.31 2/26/2024 Buy 113,930 16.34 2/27/2024 Buy 56,448 16.45 2/28/2024 Buy 41,300 16.46 2/29/2024 Buy 46,958 16.30 3/1/2024 Buy 112,050 16.49 3/6/2024 Buy 13,781 16.28