Saba Capital Management Amends 13D Filing for Federated Hermes Fund
Ticker: FMN · Form: SC 13D/A · Filed: Oct 15, 2024 · CIK: 1199004
Sentiment: neutral
Topics: activist-investor, sec-filing, municipal-bond-fund
TL;DR
SABA CAPITAL MANAGEMENT AMENDS 13D FILING FOR FEDERATED HERMES MUNI FUND.
AI Summary
Saba Capital Management, L.P. filed an amendment (No. 8) to its Schedule 13D on October 15, 2024, regarding Federated Hermes Premier Municipal Income Fund. Saba Capital Management, L.P. is a significant holder of the fund's common shares.
Why It Matters
This filing indicates ongoing activity and potential strategic interest from Saba Capital Management in Federated Hermes Premier Municipal Income Fund, which could influence the fund'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.
Key Players & Entities
- Saba Capital Management, L.P. (company) — Filing entity
- Federated Hermes Premier Municipal Income Fund (company) — Subject company
- Boaz R. Weinstein (person) — Group member of Saba Capital Management
FAQ
What is the purpose of this SC 13D/A filing?
This is an amendment (No. 8) to a Schedule 13D filing, indicating changes or updates to Saba Capital Management's beneficial ownership or intentions regarding Federated Hermes Premier Municipal Income Fund.
Who is the filing entity?
The filing entity is Saba Capital Management, L.P.
What is the subject company?
The subject company is Federated Hermes Premier Municipal Income Fund.
When was this amendment filed?
This amendment was filed on October 15, 2024.
What is the CUSIP number for the subject company's common shares?
The CUSIP number for Federated Hermes Premier Municipal Income Fund's common shares is 31423P108.
Filing Stats: 1,336 words · 5 min read · ~4 pages · Grade level 11.7 · Accepted 2024-10-15 18:58:53
Key Financial Figures
- $0.01 — Fund (Name of Issuer) Common Shares, $0.01 par value (Title of Class of Securiti
- $11,645,435 — ported herein. A total of approximately $11,645,435 was paid to acquire the Common Shares r
Filing Documents
- formsc13da.htm (SC 13D/A) — 54KB
- 0001062993-24-017697.txt ( ) — 56KB
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 15, 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. 31423P108 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 9/4/24. All transactions were effectuated in the open market through a broker. Trade Date Buy/Sell Shares Price 10/8/2024 Sell 400 12.42 10/9/2024 Sell 15,315 12.36 10/14/2024 Sell 523,323 12.67