Saba Capital Amends BlackRock Tech Term Trust Filing

TL;DR

Saba Capital updated its filing for BlackRock Science & Technology Term Trust on 10/11/24.

AI Summary

Saba Capital Management, L.P. filed an amendment (SC 13D/A) on October 11, 2024, regarding their holdings in BlackRock Science & Technology Term Trust. This filing indicates a change in their stake, though specific dollar amounts or percentage changes are not detailed in this excerpt. The filing is an amendment to a previous Schedule 13D.

Why It Matters

This amendment signals a potential shift in Saba Capital's strategy or stake in the BlackRock Science & Technology Term Trust, which could influence the trust's future performance or corporate actions.

Risk Assessment

Risk Level: medium — Amendments to Schedule 13D filings often indicate changes in activist investor strategies or significant stake adjustments, which can introduce volatility.

Key Players & Entities

• Saba Capital Management, L.P. (company) — Filing entity
• BlackRock Science & Technology Term Trust (company) — Subject company
• BOAZ R. WEINSTEIN (person) — Group member of filing entity
• SABA CAPITAL MANAGEMENT GP, LLC (company) — Group member of filing entity

FAQ

Key Financial Figures

• $0.001 — rust (Name of Issuer) Common Shares, $0.001 par value (Title of Class of Securiti
• $115,902,821 — ported herein. A total of approximately $115,902,821 was paid to acquire the Common Shares r

Filing Documents

• formsc13da.htm (SC 13D/A) — 75KB
• exhibit4.htm (EX-4) — 10KB
• 0001062993-24-017610.txt ( ) — 86KB

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 4 and is incorporated by reference herein. 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 6/30/24, as disclosed in the company's N-CSRS filed 9/5/24 CUSIP No. 09260K101 SCHEDULE 13D/A Page 6 of 8 Pages (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 within the past 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 4 : Man

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. 09260K101 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 during the past sixty days. All transactions were effectuated in the open market through a broker. Trade Date Buy/Sell Shares Price 8/22/2024 Sell 595,396 21.45 9/3/2024 Sell 15,606 18.93 9/5/2024 Sell 20,323 18.59 9/6/2024 Sell 7,602 18.17 9/10/2024 Sell 10,649 18.39 9/11/2024 Sell 5,919 18.38 9/17/2024 Buy 2,413 18.64 9/19/2024 Buy 61,962 18.95 9/23/2024 Buy 4,159 18.83 9/27/2024 Buy 19,400 19.36 10/9/2024 Buy 12,184 19.03 10/10/2024 Buy 26,160 19.17

View Full Filing

View this SC 13D/A filing on SEC EDGAR