Saba Capital Management Files SC 13D/A Amendment
Ticker: DMA · Form: SC 13D/A · Filed: Jul 12, 2024 · CIK: 1523289
| Field | Detail |
|---|---|
| Company | Destra Multi-Alternative Fund (DMA) |
| Form Type | SC 13D/A |
| Filed Date | Jul 12, 2024 |
| Risk Level | medium |
| Pages | 4 |
| Reading Time | 5 min |
| Key Dollar Amounts | $8,697,548 |
| Sentiment | neutral |
Sentiment: neutral
Topics: ownership-filing, amendment, activist-filing
TL;DR
Saba Capital Management updated its 13D filing for Destra Multi-Alternative Fund on 7/12/24.
AI Summary
Saba Capital Management, L.P. filed an amendment (No. 5) to its Schedule 13D on July 12, 2024, regarding its holdings in Destra Multi-Alternative Fund. The filing indicates a change in the group members, including Boaz R. Weinstein and Saba Capital Management GP, LLC. Saba Capital Management, L.P. is the filer, with its principal business address at 405 Lexington Avenue, New York, NY.
Why It Matters
This filing updates ownership information for Destra Multi-Alternative Fund, potentially signaling changes in investment strategy or activist involvement by Saba Capital Management.
Risk Assessment
Risk Level: medium — Schedule 13D filings often indicate significant stake-building or activist intentions, which can lead to increased volatility.
Key Players & Entities
- Saba Capital Management, L.P. (company) — Filer of the Schedule 13D/A
- Destra Multi-Alternative Fund (company) — Subject company
- Boaz R. Weinstein (person) — Group member
- Saba Capital Management GP, LLC (company) — Group member
- Michael D'Angelo (person) — Authorized to receive notices
FAQ
What is the primary purpose of this SC 13D/A filing?
This filing is an amendment (No. 5) to Schedule 13D, updating information regarding beneficial ownership of Destra Multi-Alternative Fund's common shares by Saba Capital Management, L.P. and its group members.
Who are the key entities involved in this filing?
The key entities are the subject company, Destra Multi-Alternative Fund, and the filer, Saba Capital Management, L.P., along with group members Boaz R. Weinstein and Saba Capital Management GP, LLC.
When was this amendment filed?
This amendment was filed on July 12, 2024.
What is the business address of the filer?
The business address of Saba Capital Management, L.P. is 405 Lexington Avenue, 58th Floor, New York, NY 10174.
What is the CUSIP number for the securities in question?
The CUSIP number for the Common Shares of Destra Multi-Alternative Fund is 25065A502.
Filing Stats: 1,327 words · 5 min read · ~4 pages · Grade level 11.9 · Accepted 2024-07-12 12:57:48
Key Financial Figures
- $8,697,548 — ported herein. A total of approximately $8,697,548 was paid to acquire the Common Shares r
Filing Documents
- formsc13da.htm (SC 13D/A) — 48KB
- 0001062993-24-013670.txt ( ) — 49KB
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: July 12, 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. 25065A502 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 since the filing of the Schedule 13D/A on 6/26/24. All transactions were effectuated in the open market through a broker. Trade Date Buy/Sell Shares Price 7/2/2024 Buy 2,234 7.99 7/2/2024 Buy 6,523 8.06 7/3/2024 Buy 100 7.98 7/5/2024 Buy 43,268 8.00 7/10/2024 Buy 61,251 8.25 7/11/2024 Buy 99,569 8.40