Saba Capital Management Amends 13D Filing for BlackRock Trust
Ticker: BTX · Form: SC 13D/A · Filed: Dec 16, 2024 · CIK: 1836057
| Field | Detail |
|---|---|
| Company | Blackrock Innovation & Growth Term Trust (BTX) |
| Form Type | SC 13D/A |
| Filed Date | Dec 16, 2024 |
| Risk Level | medium |
| Pages | 5 |
| Reading Time | 6 min |
| Key Dollar Amounts | $0.001, $433,545,097 |
| Sentiment | neutral |
Sentiment: neutral
Topics: activist-investor, sec-filing, ownership-change
Related Tickers: IBUY
TL;DR
Saba Capital updated its BlackRock trust filing (amendment 23) - still watching.
AI Summary
Saba Capital Management, L.P. has filed an amendment (No. 23) to its Schedule 13D for BlackRock Innovation & Growth Term Trust, as of December 16, 2024. The filing indicates a change in the reporting of beneficial ownership, with Saba Capital Management GP, LLC now listed as a group member. This amendment does not specify new shareholdings or dollar amounts but signifies an ongoing disclosure requirement.
Why It Matters
This filing is an update to Saba Capital's ongoing disclosures regarding its stake in BlackRock Innovation & Growth Term Trust, signaling continued active interest and potential influence.
Risk Assessment
Risk Level: medium — Schedule 13D filings often indicate activist investor activity or significant stake-building, which can lead to increased 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
- Saba Capital Management GP, LLC (company) — Group member added in the filing
- Michael D'Angelo (person) — Contact person for Saba Capital Management, L.P.
FAQ
What is the specific nature of the change in beneficial ownership reported in Amendment No. 23?
The filing indicates the addition of Saba Capital Management GP, LLC as a group member, suggesting a restructuring or clarification of reporting entities within Saba Capital's management.
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 last reported date of change for this filing?
The date as of the change for this filing was December 16, 2024.
Who is listed as the filer for this Schedule 13D/A?
Saba Capital Management, L.P. is listed as the filer.
What is the business address and phone number for Saba Capital Management, L.P.?
The business address for Saba Capital Management, L.P. is 405 Lexington Avenue, 58th Floor, New York, NY 10174, and the business phone number is 212-542-4635.
Filing Stats: 1,497 words · 6 min read · ~5 pages · Grade level 8.6 · Accepted 2024-12-16 21:22:06
Key Financial Figures
- $0.001 — rust (Name of Issuer) Common Shares, $0.001 par value (Title of Class of Securiti
- $433,545,097 — ported herein. A total of approximately $433,545,097 was paid to acquire the Common Shares r
Filing Documents
- formsc13da.htm (SC 13D/A) — 74KB
- 0001062993-24-020703.txt ( ) — 76KB
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: December 16, 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 10/29/24. All transactions were effectuated in the open market through a broker. Trade Date Buy/Sell Shares Price 10/29/2024 Buy 148,103 7.60 10/30/2024 Buy 61,003 7.66 10/31/2024 Buy 11,621 7.58 11/5/2024 Buy 16,939 7.47 11/6/2024 Buy 104,693 7.63 11/7/2024 Buy 40,719 7.71 11/8/2024 Buy 79,091 7.74 11/11/2024 Buy 22,616 7.83 11/12/2024 Buy 104,967 7.73 11/13/2024 Buy 94,406 7.82 11/19/2024 Buy 92,376 7.60 11/20/2024 Buy 82,254 7.64 11/22/2024 Buy 68,422 7.86 11/25/2024 Buy 266,732 7.96 11/26/2024 Buy 15,801 8.01 12/2/2024 Buy 94,924 7.98 12/3/2024 Buy 25,438 7.97 12/4/2024 Buy 185,716 8.07 12/5/2024 Buy 159,167 8.07 12/12/2024 Buy 355,173 7.87 12/13/2024 Buy 233,126 7.90