Saba Capital Amends BlackRock Innovation & Growth Term Trust Stake
Ticker: BTX · Form: SC 13D/A · Filed: Feb 2, 2024 · CIK: 1836057
| Field | Detail |
|---|---|
| Company | Blackrock Innovation & Growth Term Trust (BTX) |
| Form Type | SC 13D/A |
| Filed Date | Feb 2, 2024 |
| Risk Level | medium |
| Pages | 5 |
| Reading Time | 5 min |
| Key Dollar Amounts | $0.001, $340,092,101 |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: activist-investing, amendment, institutional-ownership
TL;DR
**Saba Capital just updated its stake in BlackRock Innovation & Growth Term Trust, watch for their next move!**
AI Summary
Saba Capital Management, L.P. filed an Amendment No. 16 to its Schedule 13D on February 2, 2024, indicating a change in its beneficial ownership of BlackRock Innovation & Growth Term Trust. This filing updates previous disclosures regarding Saba Capital's stake in the trust, with the date of the event requiring this filing being January 31, 2024. This matters to shareholders because Saba Capital is an activist investor, and changes in their holdings or intentions can signal potential future actions that could influence the trust's management or share price.
Why It Matters
This filing signals an updated position from an activist investor, Saba Capital, which could precede further engagement or changes in their investment strategy regarding BlackRock Innovation & Growth Term Trust.
Risk Assessment
Risk Level: medium — Changes in activist investor holdings can lead to volatility or strategic shifts, posing a medium risk to current shareholders.
Analyst Insight
Investors should monitor future filings from Saba Capital Management, L.P. for BlackRock Innovation & Growth Term Trust to understand any shifts in their investment strategy or potential activist actions, as these could impact the trust's share price.
Key Players & Entities
- Saba Capital Management, L.P. (company) — the filing person and activist investor
- BlackRock Innovation & Growth Term Trust (company) — the subject company of the filing
- BOAZ R. WEINSTEIN (person) — a group member associated with Saba Capital Management GP, LLC
- Michael D'Angelo (person) — person authorized to receive notices for Saba Capital Management, L.P.
- January 31, 2024 (date) — date of event requiring the filing
Forward-Looking Statements
- Saba Capital Management, L.P. will continue to be an active shareholder in BlackRock Innovation & Growth Term Trust. (Saba Capital Management, L.P.) — high confidence, target: Within the next 6-12 months
FAQ
What is the purpose of this specific SC 13D/A filing?
This SC 13D/A filing is Amendment No. 16, indicating an update to previously filed information regarding Saba Capital Management, L.P.'s beneficial ownership in BlackRock Innovation & Growth Term Trust, with the event date being January 31, 2024.
Who is the filer of this SC 13D/A?
The filer of this SC 13D/A is Saba Capital Management, L.P., located at 405 Lexington Avenue, 58th Floor, New York, NY 10174.
What is the subject company of this filing?
The subject company of this filing is BlackRock Innovation & Growth Term Trust, with its business address at Bellevue Parkway, Wilmington, DE 19808.
What is the CUSIP number for the securities discussed in this filing?
The CUSIP number for the Common Shares, $0.001 par value, of BlackRock Innovation & Growth Term Trust is 09260Q108.
When was the event that triggered this filing?
The date of the event which required the filing of this statement was January 31, 2024.
Filing Stats: 1,362 words · 5 min read · ~5 pages · Grade level 10 · Accepted 2024-02-02 08:53:35
Key Financial Figures
- $0.001 — rust (Name of Issuer) Common Shares, $0.001 par value (Title of Class of Securiti
- $340,092,101 — ported herein. A total of approximately $340,092,101 was paid to acquire the Common Shares r
Filing Documents
- formsc13da.htm (SC 13D/A) — 63KB
- 0001062993-24-001798.txt ( ) — 64KB
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: February 2, 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 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 64,870 7.23 1/12/2024 Buy 77,412 7.34 1/16/2024 Buy 16,530 7.25 1/17/2024 Buy 158,960 7.15 1/18/2024 Buy 39,441 7.22 1/19/2024 Buy 191,272 7.25 1/22/2024 Buy 155,567 7.37 1/23/2024 Buy 238,492 7.41 1/24/2024 Buy 307,937 7.49 1/25/2024 Buy 369,514 7.53 1/26/2024 Buy 492,596 7.57 1/29/2024 Buy 212,619 7.64 1/30/2024 Buy 195,905 7.70 1/31/2024 Buy 340,328 7.64 2/1/2024 Buy 87,443 7.66