Saba Capital Management Updates BlackRock Health Sciences Trust Filing

TL;DR

Saba Capital Management filed an update on their stake in BlackRock Health Sciences Term Trust. Keep an eye on this.

AI Summary

Saba Capital Management, L.P. filed an amendment (No. 14) to its Schedule 13D on October 11, 2024, regarding BlackRock Health Sciences Term Trust. Saba Capital Management, L.P. is reporting changes in its beneficial ownership of the common shares of the issuer. The filing does not specify the exact percentage or number of shares held but indicates an update to their previous filings.

Why It Matters

This filing indicates ongoing activity and potential strategic interest from Saba Capital Management in the BlackRock Health Sciences Term Trust, which could influence the trust's future direction or shareholder value.

Risk Assessment

Risk Level: medium — Schedule 13D filings often signal activist investor intent or significant changes in ownership, which can lead to volatility and strategic shifts for the company.

Key Players & Entities

• Saba Capital Management, L.P. (company) — Filer of the Schedule 13D/A
• BlackRock Health Sciences Term Trust (company) — Subject company of the filing
• Michael D'Angelo (person) — Contact person for Saba Capital Management

FAQ

Key Financial Figures

• $0.001 — rust (Name of Issuer) Common Shares, $0.001 par value (Title of Class of Securiti
• $309,318,611 — ported herein. A total of approximately $309,318,611 was paid to acquire the Common Shares r

Filing Documents

• formsc13da.htm (SC 13D/A) — 71KB
• exhibit5.htm (EX-5) — 9KB
• 0001062993-24-017613.txt ( ) — 82KB

is hereby amended and supplemented as follows

Item 4 is hereby amended and supplemented as follows: On October 9, 2024, Saba Capital, on behalf of Saba Capital Master Fund, Ltd., sent a letter to the Issuer containing a shareholder proposal under Rule 14a-8, for presentation to the Issuer's shareholders at the Issuer's 2025 annual meeting of shareholders, to terminate the management agreement, and any other advisory agreements, between the Issuer and BlackRock Advisors, LLC (such letter, the " Management Agreement Termination Proposal Letter "). The foregoing summary of the Management Agreement Termination Proposal Letter does not purport to be complete and is qualified in its entirety by reference to the full text of the Management Agreement Termination Proposal Letter, a copy of which is attached as Exhibit 5 and is incorporated by reference herein. Item 5. INTEREST IN SECURITIES OF THE ISSUER CUSIP No. 09260E105 SCHEDULE 13D/A Page 6 of 8 Pages (a) See rows (11) and (13) of the cover pages to this Schedule 13D/A for the aggregate number of Common Shares and percentages of the Common Shares beneficially owned by each of the Reporting Persons. The percentages used herein are calculated based upon 106,514,258 shares of common stock outstanding as of 6/30/24, as disclosed in the company's N-CSRS filed 9/5/24 (b) See rows (7) through (10) of the cover pages to this Schedule 13D/A for the number of Common Shares as to which each Reporting Person has the sole or shared power to vote or direct the vote and sole or shared power to dispose or to direct the disposition. (c) The transactions in the Common Shares effected in the last sixty days by the Reporting Persons, which were all in the open market, are set forth in Schedule A, and are incorporated herein by reference (d) The funds and accounts advised by Saba Capital have the right to receive the dividends from and proceeds of sales from the Common Shares. (e) Not applicable. Item 7. MATERIAL TO BE FILED AS EXHIBITS Exhibit 5 : Manageme

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 11, 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 8 of 8 Pages Schedule A This Schedule sets forth information with respect to each purchase and sale of Common Shares which were effectuated by Saba Capital in the last sixty days. All transactions were effectuated in the open market through a broker. Trade Date Buy/Sell Shares Price 9/17/2024 Buy 27,148 15.93 9/18/2024 Buy 20,534 15.88 9/19/2024 Buy 15,455 16.14 9/23/2024 Buy 2,006 15.98 9/25/2024 Buy 300 15.73 9/26/2024 Buy 47,871 15.81 9/27/2024 Buy 1,633 15.89 9/30/2024 Buy 8,012 15.84 10/1/2024 Buy 9,526 15.79

View Full Filing

View this SC 13D/A filing on SEC EDGAR