Saba Capital Files SC 13D for Clough Global Dividend & Income Fund
Ticker: GLV · Form: SC 13D · Filed: Sep 3, 2024 · CIK: 1288795
| Field | Detail |
|---|---|
| Company | Clough Global Dividend & Income Fund (GLV) |
| Form Type | SC 13D |
| Filed Date | Sep 3, 2024 |
| Risk Level | medium |
| Pages | 8 |
| Reading Time | 10 min |
| Key Dollar Amounts | $0.001, $6,776,753 |
| Sentiment | neutral |
Sentiment: neutral
Topics: activist-investor, 13d-filing, closed-end-fund
TL;DR
**SABA CAPITAL TAKES MAJOR STAKE IN CLOUGH DIVIDEND FUND - 13D FILED**
AI Summary
Saba Capital Management, L.P. has filed an SC 13D, indicating a significant stake in Clough Global Dividend & Income Fund. The filing, dated September 3, 2024, details Saba Capital's ownership and potential intentions regarding the fund. Specific details on the exact percentage of ownership or proposed actions are not immediately available in this header information.
Why It Matters
This filing signals potential activist investor interest or a significant strategic move by Saba Capital Management concerning Clough Global Dividend & Income Fund, which could impact the fund's future operations or shareholder value.
Risk Assessment
Risk Level: medium — SC 13D filings often precede activist campaigns or significant changes in a company's structure, introducing uncertainty and potential volatility.
Key Players & Entities
- Saba Capital Management, L.P. (company) — Filer of the SC 13D
- Clough Global Dividend & Income Fund (company) — Subject company of the SC 13D
- Boaz R. Weinstein (person) — Group member associated with Saba Capital Management
- Saba Capital Management GP, LLC (company) — Group member associated with Saba Capital Management
FAQ
What is the exact percentage of Clough Global Dividend & Income Fund's common shares owned by Saba Capital Management, L.P. as of September 3, 2024?
The provided header information does not specify the exact percentage of ownership, only that an SC 13D filing has been made.
What is the primary business of Clough Global Dividend & Income Fund?
The filing indicates the company's name is Clough Global Dividend & Income Fund, suggesting its business involves dividend and income generation strategies.
When was the last name change for Clough Global Dividend & Income Fund?
The fund's name was previously changed from 'Clough Dividend & Income Fund' on August 5, 2016.
What is the business address of Saba Capital Management, L.P.?
Saba Capital Management, L.P.'s business address is 405 Lexington Avenue, 58th Floor, New York, NY 10174.
What is the Central Index Key (CIK) for Clough Global Dividend & Income Fund?
The Central Index Key for Clough Global Dividend & Income Fund is 0001288795.
Filing Stats: 2,430 words · 10 min read · ~8 pages · Grade level 13 · Accepted 2024-09-03 14:04:58
Key Financial Figures
- $0.001 — Fund (Name of Issuer) Common Shares, $0.001 par value (Title of Class of Securitie
- $6,776,753 — ported herein. A total of approximately $6,776,753 was paid to acquire the Common Shares r
Filing Documents
- formsc13d.htm (SC 13D) — 87KB
- exhibit1.htm (EX-1) — 4KB
- 0001062993-24-015985.txt ( ) — 93KB
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: September 3, 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. 18913Y103 SCHEDULE 13D Page 10 of 10 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 7/5/2024 Buy 25,178 5.77 7/8/2024 Buy 68,423 5.83 7/9/2024 Buy 4,569 5.85 7/10/2024 Buy 8,914 5.90 7/12/2024 Buy 4,135 5.91 7/15/2024 Buy 2,500 5.90 7/18/2024 Buy 18,891 5.79 7/19/2024 Buy 34,227 5.72 7/22/2024 Buy 25,542 5.71 7/23/2024 Buy 15,131 5.73 7/25/2024 Buy 1,256 5.70 7/26/2024 Buy 42,742 5.73 7/29/2024 Buy 17,342 5.74 7/30/2024 Buy 14,861 5.73 7/31/2024 Buy 61,588 5.80 8/1/2024 Buy 1,200 5.74 8/2/2024 Buy 16,904 5.67 8/28/2024 Buy 7,763 5.71 8/29/2024 Buy 100 5.72