Saba Capital Management Amends 13D Filing for BlackRock Innovation & Growth Term Trust
Ticker: BTX · Form: SC 13D/A · Filed: Mar 11, 2024 · CIK: 1836057
| Field | Detail |
|---|---|
| Company | Blackrock Innovation & Growth Term Trust (BTX) |
| Form Type | SC 13D/A |
| Filed Date | Mar 11, 2024 |
| Risk Level | medium |
| Pages | 5 |
| Reading Time | 5 min |
| Key Dollar Amounts | $0.001, $373,623,938 |
| Sentiment | neutral |
Sentiment: neutral
Topics: activist-investor, ownership-change, sec-filing
TL;DR
Saba Capital just updated its stake in BlackRock Innovation & Growth Term Trust. Watch this space.
AI Summary
Saba Capital Management, L.P. filed an amendment (No. 18) to its Schedule 13D on March 11, 2024, regarding BlackRock Innovation & Growth Term Trust. The filing indicates a change in beneficial ownership, with Saba Capital Management now holding a significant stake in the company's common shares.
Why It Matters
This filing signals potential activist investor activity or a shift in major holdings, which could influence the trust's future strategy and performance.
Risk Assessment
Risk Level: medium — Changes in major beneficial ownership can indicate potential activist strategies or shifts in control, introducing uncertainty.
Key Players & Entities
- Saba Capital Management, L.P. (company) — Filing entity
- BlackRock Innovation & Growth Term Trust (company) — Subject company
- Michael D'Angelo (person) — Contact person for Saba Capital Management
FAQ
What is the specific percentage of BlackRock Innovation & Growth Term Trust's common shares beneficially owned by Saba Capital Management, L.P. after this amendment?
The filing does not explicitly state the exact percentage of beneficial ownership in this amendment, but it signifies a change in holdings.
What is the CUSIP number for BlackRock Innovation & Growth Term Trust's common shares?
The CUSIP number for the common shares of BlackRock Innovation & Growth Term Trust is 09260Q108.
When was the previous amendment (Amendment No. 17) to this Schedule 13D filed?
The filing is Amendment No. 18, but the date of the previous amendment is not specified in this document.
What is the business address and phone number for Saba Capital Management, L.P. as listed in this filing?
Saba Capital Management, L.P.'s business address is 405 Lexington Avenue, 58th Floor, New York, NY 10174, and their phone number is 212-542-4635.
What is the date of this filing and the date as of which the change in beneficial ownership is reported?
This filing was made on March 11, 2024, and the date as of which the change is reported is also March 11, 2024.
Filing Stats: 1,360 words · 5 min read · ~5 pages · Grade level 10.1 · Accepted 2024-03-11 08:19:42
Key Financial Figures
- $0.001 — rust (Name of Issuer) Common Shares, $0.001 par value (Title of Class of Securiti
- $373,623,938 — ported herein. A total of approximately $373,623,938 was paid to acquire the Common Shares r
Filing Documents
- formsc13da.htm (SC 13D/A) — 59KB
- 0001062993-24-006083.txt ( ) — 60KB
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 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 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 56,252 7.91 2/21/2024 Buy 137,229 7.87 2/22/2024 Buy 178,566 8.03 2/23/2024 Buy 391,649 8.07 2/26/2024 Buy 273,686 8.11 2/27/2024 Buy 331,804 8.15 2/28/2024 Buy 79,201 8.02 2/29/2024 Buy 60,078 8.01 3/1/2024 Buy 44,091 8.06 3/6/2024 Buy 106,541 7.99 3/7/2024 Buy 17,047 8.04 3/8/2024 Buy 52,761 8.11