Saba Capital Management Amends Stake in BNY Mellon Muni Fund
Ticker: DSM · Form: SC 13D/A · Filed: Mar 18, 2024 · CIK: 855887
| Field | Detail |
|---|---|
| Company | Bny Mellon Strategic Municipal Bond Fund, INC. (DSM) |
| Form Type | SC 13D/A |
| Filed Date | Mar 18, 2024 |
| Risk Level | medium |
| Pages | 4 |
| Reading Time | 5 min |
| Key Dollar Amounts | $0.001, $16,997,355 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 13D-filing, ownership-change, municipal-bonds
TL;DR
Saba Capital just updated their filing on BNY Mellon Muni Fund - something's up.
AI Summary
Saba Capital Management, L.P. has filed an amendment (SC 13D/A) on March 18, 2024, regarding their holdings in BNY Mellon Strategic Municipal Bond Fund, Inc. The filing indicates a change in their beneficial ownership, though specific new percentage or dollar amounts are not detailed in this excerpt. Saba Capital Management, L.P. is a significant holder, and this amendment suggests a potential shift in their investment strategy or stake.
Why It Matters
This filing signals potential changes in the ownership structure of BNY Mellon Strategic Municipal Bond Fund, Inc., which could impact its management or investment strategy.
Risk Assessment
Risk Level: medium — Changes in beneficial ownership filings can indicate activist investor activity or shifts in major holdings, potentially leading to volatility.
Key Players & Entities
- Saba Capital Management, L.P. (company) — Filing entity
- BNY Mellon Strategic Municipal Bond Fund, Inc. (company) — Subject company
- 20240318 (date) — Filing date
FAQ
What specific changes in beneficial ownership are detailed in this SC 13D/A filing?
This excerpt does not specify the exact percentage or dollar amount of the change in beneficial ownership, only that an amendment has been filed on March 18, 2024.
Who is the filing entity and what is the subject company?
The filing entity is Saba Capital Management, L.P., and the subject company is BNY Mellon Strategic Municipal Bond Fund, Inc.
What is the filing type and accession number?
The filing type is SC 13D/A, and the accession number is 0001062993-24-006598.
What was the former name of the subject company?
The subject company was formerly known as Dreyfus Strategic Municipal Bond Fund, Inc.
What are the business addresses for the filing entity and the subject company?
Saba Capital Management, L.P.'s business address is 405 Lexington Avenue, 58th Floor, New York, NY 10174. BNY Mellon Strategic Municipal Bond Fund, Inc.'s business address is C/O BNY Mellon Investment Adviser, Inc., 240 Greenwich Street, New York, NY 10286.
Filing Stats: 1,323 words · 5 min read · ~4 pages · Grade level 11.5 · Accepted 2024-03-18 09:21:08
Key Financial Figures
- $0.001 — INC (Name of Issuer) Common Shares, $0.001 par value (Title of Class of Securiti
- $16,997,355 — ported herein. A total of approximately $16,997,355 was paid to acquire the Common Shares r
Filing Documents
- formsc13da.htm (SC 13D/A) — 57KB
- 0001062993-24-006598.txt ( ) — 59KB
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 18, 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. 09662E109 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 1/18/2024 Buy 1,800 5.63 1/30/2024 Buy 16,693 5.66 1/31/2024 Buy 9,637 5.67 2/2/2024 Buy 11,204 5.73 3/5/2024 Buy 37,217 5.78 3/6/2024 Buy 46,051 5.79 3/8/2024 Buy 27,643 5.80 3/11/2024 Buy 74,859 5.81 3/12/2024 Buy 43,279 5.79 3/13/2024 Buy 17,845 5.80 3/14/2024 Buy 44,544 5.78