Saba Capital Amends BNY Mellon High Yield Fund Stake
Ticker: DHF · Form: SC 13D/A · Filed: Feb 29, 2024 · CIK: 1057861
| Field | Detail |
|---|---|
| Company | Bny Mellon High Yield Strategies Fund (DHF) |
| Form Type | SC 13D/A |
| Filed Date | Feb 29, 2024 |
| Risk Level | medium |
| Pages | 4 |
| Reading Time | 5 min |
| Key Dollar Amounts | $0.001, $6,506,223 |
| Sentiment | neutral |
Sentiment: neutral
Topics: activist-investing, amendment, fund-ownership
TL;DR
**Saba Capital Management just filed an updated 13D/A for BNY Mellon High Yield Strategies Fund, signaling continued active involvement.**
AI Summary
Saba Capital Management, L.P. filed an SC 13D/A Amendment No. 1 on February 29, 2024, regarding its ownership in BNY Mellon High Yield Strategies Fund. The filing updates previous disclosures, with Saba Capital Management, L.P. and its group members, including Boaz R. Weinstein and Saba Capital Management GP, LLC, continuing to be the reporting persons. The filing indicates an ongoing active interest in the BNY Mellon High Yield Strategies Fund, which has a CUSIP of 09660L105.
Why It Matters
This amendment signals Saba Capital Management's continued active interest and potential influence over the BNY Mellon High Yield Strategies Fund, which could lead to strategic changes or shareholder activism.
Risk Assessment
Risk Level: medium — The filing indicates an activist investor's continued involvement, which can introduce volatility or strategic shifts for the fund.
Key Players & Entities
- Saba Capital Management, L.P. (company) — Filing entity and reporting person
- BNY MELLON HIGH YIELD STRATEGIES FUND (company) — Subject company (issuer)
- Boaz R. Weinstein (person) — Group member of reporting persons
- Saba Capital Management GP, LLC (company) — Group member of reporting persons
- $0.001 (dollar_amount) — Par value of common shares
FAQ
What is the purpose of this SC 13D/A filing?
This SC 13D/A is Amendment No. 1 to a Schedule 13D, filed by Saba Capital Management, L.P., to update its previous disclosures regarding its beneficial ownership in BNY Mellon High Yield Strategies Fund.
Who are the reporting persons identified in this filing?
The reporting persons identified are Saba Capital Management, L.P., Boaz R. Weinstein, and Saba Capital Management GP, LLC.
What is the CUSIP number for the securities involved in this filing?
The CUSIP number for the Common Shares, $0.001 par value, of BNY Mellon High Yield Strategies Fund is 09660L105.
When was this amendment filed?
This Amendment No. 1 to the SC 13D was filed on February 29, 2024.
What is the business address of Saba Capital Management, L.P.?
The business address of Saba Capital Management, L.P. is 405 Lexington Avenue, 58th Floor, New York, NY 10174.
Filing Stats: 1,312 words · 5 min read · ~4 pages · Grade level 11.7 · Accepted 2024-02-29 09:11:34
Key Financial Figures
- $0.001 — FUND (Name of Issuer) Common Shares, $0.001 par value (Title of Class of Securiti
- $6,506,223 — ported herein. A total of approximately $6,506,223 was paid to acquire the Common Shares r
Filing Documents
- formsc13da.htm (SC 13D/A) — 59KB
- 0001062993-24-004870.txt ( ) — 61KB
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 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. 09660L105 SCHEDULE 13D/A Page 7 of 7 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 1/8/2024 Sell (363,837) 2.30 1/22/2024 Buy 272,715 2.31 1/24/2024 Buy 127,398 2.32 1/25/2024 Buy 120,798 2.34 1/30/2024 Sell (209,915) 2.33 2/5/2024 Buy 1,537 2.31 2/13/2024 Sell (206,641) 2.32 2/26/2024 Sell (116,736) 2.34 2/27/2024 Sell (134,031) 2.32