Saba Capital Amends BlackRock MuniYield PA Quality Fund Stake

TL;DR

**Saba Capital just updated their 13D/A on BlackRock MuniYield PA Quality Fund, signaling continued interest.**

AI Summary

Saba Capital Management, L.P. filed an Amendment No. 8 to Schedule 13D/A on February 20, 2024, regarding its ownership in BLACKROCK MUNIYIELD PENNSYLVANIA QUALITY FUND. The filing indicates a continued active interest by Saba Capital Management, L.P., a Delaware-incorporated entity, in the fund, which is based in Wilmington, DE. This amendment updates previous disclosures, with the initial filing date for this specific amendment being February 20, 2024.

Why It Matters

This filing signals Saba Capital Management's ongoing activist or significant investor role in the BlackRock MuniYield Pennsylvania Quality Fund, potentially influencing future fund strategies or governance.

Risk Assessment

Risk Level: low — This is an amendment to a Schedule 13D, indicating an update to a previously disclosed position, not a new, volatile event.

Key Players & Entities

• Saba Capital Management, L.P. (company) — Filing entity
• BLACKROCK MUNIYIELD PENNSYLVANIA QUALITY FUND (company) — Subject company
• BOAZ R. WEINSTEIN (person) — Group member
• SABA CAPITAL MANAGEMENT GP, LLC (company) — Group member
• February 20, 2024 (date) — Filing date

FAQ

Key Financial Figures

• $0.10 — FUND (Name of Issuer) Common Shares, $0.10 par value (Title of Class of Securiti
• $22,623,189 — ported herein. A total of approximately $22,623,189 was paid to acquire the Common Shares r

Filing Documents

• formsc13da.htm (SC 13D/A) — 66KB
• exhibit2.htm (EX-2) — 17KB
• 0001062993-24-003557.txt ( ) — 85KB

is hereby amended and supplemented as follows

Item 4 is hereby amended and supplemented as follows: On February 16, 2024, Saba Capital Master Fund, Ltd., a private fund advised by Saba Capital, submitted to the Issuer a notice of intent informing the Issuer of its intention to nominate two independent director candidates - Ilya Gurevich, Shavar Jeffries, Jennifer Raab, David Littlewood, David Locala, Athanassios Diplas and Alex Vindman (the " Nominees ") - for election to the Board at the Issuer's 2024 annual meeting of shareholders (the " Annual Meeting "). Each of the Nominees has entered into a nomination agreement (collectively, the " Nominee Agreement ") with Saba Capital substantially in the form attached as Exhibit 2 to this Schedule 13D/A, whereby such Nominees agreed to become members of a slate of nominees and stand for election as directors of the Issuer in connection with a proxy solicitation which may be conducted in respect of the Annual Meeting, and Saba Capital agreed to defend and indemnify such Nominees against, and with respect to, any losses that may be incurred by such Nominees in the event they become a party to litigation based on their nomination as candidates for election to the Board and the solicitation of proxies in support of their election. The foregoing summary of the Nominee Agreement is not complete and is qualified in its entirety by reference to the full text of the form of Nominee Agreement, a copy of which is attached as Exhibit 2 and is incorporated by reference herein. CUSIP No. 09255G107 SCHEDULE 13D/A Page 6 of 8 Pages Item 5. INTEREST IN SECURITIES OF THE ISSUER (a) See rows (11) and (13) of the cover pages to this Schedule 13D/A for the aggregate number of Common Shares and percentages of the Common Shares beneficially owned by each of the Reporting Persons. The percentages used herein are calculated based upon 13,024,822 shares of common stock outstanding as of 7/31/23, as disclosed in the company's N-CSR filed 10/5/23 (b) See rows (7) through (10) of t

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 20, 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. 09255G107 SCHEDULE 13D/A Page 8 of 8 Pages Schedule A This Schedule sets forth information with respect to each purchase and sale of Common Shares which were effectuated by Saba Capital in the past sixty days. All transactions were effectuated in the open market through a broker. Trade Date Buy/Sell Shares Price 12/27/2023 Buy 2,245 11.57 12/28/2023 Buy 2,064 11.57 12/29/2023 Buy 4 11.64 1/10/2024 Buy 20,581 11.67 1/17/2024 Buy 52,685 11.50 1/18/2024 Buy 12,594 11.49 1/23/2024 Buy 3,817 11.61 1/24/2024 Buy 2,792 11.67 1/25/2024 Buy 8,790 11.71 2/8/2024 Buy 845 11.99 2/16/2024 Buy 17,455 11.88

View Full Filing

View this SC 13D/A filing on SEC EDGAR