Saba Capital Management Amends BlackRock Trust Filing
Ticker: BTX · Form: SC 13D/A · Filed: Oct 29, 2024 · CIK: 1836057
| Field | Detail |
|---|---|
| Company | Blackrock Innovation & Growth Term Trust (BTX) |
| Form Type | SC 13D/A |
| Filed Date | Oct 29, 2024 |
| Risk Level | medium |
| Pages | 5 |
| Reading Time | 6 min |
| Key Dollar Amounts | $0.001, $415,788,209 |
| Sentiment | neutral |
Sentiment: neutral
Topics: activist-investor, sec-filing, amendment
TL;DR
Saba Capital updated its stake in BlackRock Innovation & Growth Term Trust. Still watching.
AI Summary
Saba Capital Management, L.P. filed an amendment (No. 22) to its Schedule 13D on October 29, 2024, regarding BlackRock Innovation & Growth Term Trust. Saba Capital Management, L.P. is reporting beneficial ownership of common shares, though the specific number of shares and percentage of ownership are not detailed in this excerpt. This filing is an update to their previous disclosures.
Why It Matters
This filing indicates ongoing activity and potential strategic interest from Saba Capital Management in BlackRock Innovation & Growth 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 stake-building, which can lead to volatility and strategic shifts for the target company.
Key Players & Entities
- Saba Capital Management, L.P. (company) — Filer of the Schedule 13D/A
- BlackRock Innovation & Growth Term Trust (company) — Subject company of the filing
- Michael D'Angelo (person) — Contact person for Saba Capital Management, L.P.
- 20241029 (date) — Filing date of the amendment
FAQ
What is the specific number of shares and percentage of ownership Saba Capital Management, L.P. now holds in BlackRock Innovation & Growth Term Trust?
The provided excerpt does not specify the exact number of shares or the percentage of ownership Saba Capital Management, L.P. holds as of the October 29, 2024 filing.
What is the purpose of Amendment No. 22 to the Schedule 13D filing?
Amendment No. 22 is an update to Saba Capital Management, L.P.'s previous disclosures regarding their beneficial ownership of BlackRock Innovation & Growth Term Trust's common shares.
Who is the primary contact for Saba Capital Management, L.P. regarding this filing?
Michael D'Angelo at 405 Lexington Avenue, 58th Floor, New York, NY 10174, with a phone number of (212) 542-4635, is listed as the contact.
What is the CUSIP number for the common shares of BlackRock Innovation & Growth Term Trust?
The CUSIP number for the common shares of BlackRock Innovation & Growth Term Trust is 09260Q108.
When was the previous name of BlackRock Innovation & Growth Term Trust?
The former company name was BlackRock Innovation & Growth Trust, with a date of name change to the current name on December 10, 2020.
Filing Stats: 1,456 words · 6 min read · ~5 pages · Grade level 9.3 · Accepted 2024-10-29 15:28:22
Key Financial Figures
- $0.001 — rust (Name of Issuer) Common Shares, $0.001 par value (Title of Class of Securiti
- $415,788,209 — ported herein. A total of approximately $415,788,209 was paid to acquire the Common Shares r
Filing Documents
- formsc13da.htm (SC 13D/A) — 64KB
- 0001062993-24-018067.txt ( ) — 65KB
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 29, 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. 09260Q108 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 since the filing of the Schedule 13D/A on 10/11/24. All transactions were effectuated in the open market through a broker. Trade Date Buy/Sell Shares Price 10/11/2024 Buy 45,033 7.65 10/14/2024 Buy 56,853 7.70 10/15/2024 Buy 101,390 7.62 10/16/2024 Buy 64,275 7.58 10/17/2024 Buy 79,978 7.56 10/18/2024 Buy 51,163 7.60 10/21/2024 Buy 64,641 7.59 10/22/2024 Buy 73,122 7.58 10/23/2024 Buy 76,043 7.52 10/24/2024 Buy 76,902 7.53 10/25/2024 Buy 68,934 7.55 10/28/2024 Buy 123,691 7.62