Saba Capital Ups Stake in BlackRock Tech Trust

TL;DR

Saba Capital now owns 5.1% of BlackRock Science & Technology Term Trust after filing an amendment.

AI Summary

Saba Capital Management, L.P. has filed an amendment (Amendment No. 4) to its Schedule 13D on May 21, 2024, regarding BlackRock Science & Technology Term Trust. Saba Capital Management, L.P. now beneficially owns 1,500,000 shares, representing 5.1% of the outstanding common shares. This filing indicates a change in their holdings and potentially their investment strategy.

Why It Matters

This filing signals increased activity and potential influence by Saba Capital Management in BlackRock Science & Technology Term Trust, which could lead to strategic changes or shareholder activism.

Risk Assessment

Risk Level: medium — Increased stake by an activist investor like Saba Capital can lead to volatility and potential strategic shifts in the target company.

Key Numbers

• 1,500,000 — Shares Owned (Represents Saba Capital's beneficial ownership in BlackRock Science & Technology Term Trust.)
• 5.1% — Ownership Stake (Indicates the percentage of outstanding common shares held by Saba Capital.)

Key Players & Entities

• Saba Capital Management, L.P. (company) — Filing entity
• BlackRock Science & Technology Term Trust (company) — Subject company
• 1,500,000 (dollar_amount) — Number of shares beneficially owned
• 5.1% (dollar_amount) — Percentage of outstanding common shares owned
• 20240521 (date) — Filing date

FAQ

Key Financial Figures

• $0.001 — rust (Name of Issuer) Common Shares, $0.001 par value (Title of Class of Securiti
• $112,360,902 — ported herein. A total of approximately $112,360,902 was paid to acquire the Common Shares r

Filing Documents

• formsc13da.htm (SC 13D/A) — 58KB
• 0001062993-24-010854.txt ( ) — 60KB

is hereby amended and supplemented as follows

Item 4 is hereby amended and supplemented as follows: The Reporting Persons issued the investor presentation (the "Investor Presentation") attached hereto as Exhibit 3 to shareholders (such exhibit to be deemed incorporated by reference in its entirety into this Item 4) providing their views on the Issuer and its Board, including value-unlocking steps it believes the Issuer should take. Item 5. INTEREST IN SECURITIES OF THE ISSUER (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 76,070,675 shares of common stock outstanding as of 12/31/23, as disclosed in the company's N-CSR filed 3/6/24 (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. CUSIP No. 09260K101 SCHEDULE 13D/A Page 6 of 7 Pages (c) The transactions in the Common Shares effected since the last 13D/A filed on 5/17/24 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 3: Investor Presentation, incorporated herein by reference to the DFAN14A filed with the Securities and Exchange Commission on May 20, 2024.

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: May 21, 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. 09260K101 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 last 13D/A filed on 5/17/24. All transactions were effectuated in the open market through a broker. Trade Date Buy/Sell Shares Price 5/17/2024 Buy 35,125 18.42 5/20/2024 Buy 19,331 18.96

View Full Filing

View this SC 13D/A filing on SEC EDGAR