Saba Capital Amends Filing for Nuveen CA Muni Fund
Ticker: NAC · Form: SC 13D/A · Filed: Jul 9, 2024 · CIK: 1074952
| Field | Detail |
|---|---|
| Company | Nuveen California Quality Municipal Income Fund (NAC) |
| Form Type | SC 13D/A |
| Filed Date | Jul 9, 2024 |
| Risk Level | medium |
| Pages | 5 |
| Reading Time | 6 min |
| Key Dollar Amounts | $0.01, $76,399,504 |
| Sentiment | neutral |
Sentiment: neutral
Topics: activist-investor, sec-filing, municipal-bond-fund
TL;DR
SABA CAPITAL AMENDS 13D ON NUVEEN CA MUNI FUND - WATCH FOR MOVES
AI Summary
Saba Capital Management, L.P. has filed an amendment (No. 2) to its Schedule 13D regarding Nuveen California Quality Municipal Income Fund. The filing, dated July 9, 2024, indicates a change in the reporting person's holdings or intentions concerning the fund's common shares.
Why It Matters
This amendment signals potential shifts in activist investor Saba Capital's strategy or stake in the Nuveen California Quality Municipal Income Fund, which could impact the fund's management or shareholder value.
Risk Assessment
Risk Level: medium — Amendments to Schedule 13D filings often precede significant actions by activist investors, introducing uncertainty and potential volatility.
Key Players & Entities
- Saba Capital Management, L.P. (company) — Reporting Person
- Nuveen California Quality Municipal Income Fund (company) — Subject Company
- Boaz R. Weinstein (person) — Group Member
FAQ
What specific changes are detailed in Amendment No. 2 to the Schedule 13D filing?
The filing is an amendment (No. 2) to the Schedule 13D, indicating changes in the reporting person's holdings or intentions, but the specific details of these changes are not provided in the header information.
Who is the reporting person filing this amendment?
The reporting person is Saba Capital Management, L.P.
What is the subject company of this filing?
The subject company is Nuveen California Quality Municipal Income Fund.
When was this filing submitted?
This filing was submitted on July 9, 2024.
What is the SEC file number associated with this filing?
The SEC file number is 005-84431.
Filing Stats: 1,380 words · 6 min read · ~5 pages · Grade level 9.9 · Accepted 2024-07-09 08:26:51
Key Financial Figures
- $0.01 — Fund (Name of Issuer) Common Shares, $0.01 par value (Title of Class of Securiti
- $76,399,504 — ported herein. A total of approximately $76,399,504 was paid to acquire the Common Shares r
Filing Documents
- formsc13da.htm (SC 13D/A) — 69KB
- 0001062993-24-013573.txt ( ) — 70KB
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 9, 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. 67066Y105 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 5/15/2024 Buy 134,978 11.08 5/16/2024 Buy 1,800 11.05 5/17/2024 Buy 3,885 11.02 5/20/2024 Buy 2,148 11.06 5/28/2024 Sell (10,133) 11.05 6/4/2024 Sell (20,568) 11.12 6/6/2024 Sell (151,075) 11.27 6/7/2024 Sell (142,225) 11.28 6/11/2024 Sell (4,426) 11.44 6/13/2024 Sell (7,821) 11.57 6/14/2024 Sell (12,200) 11.59 6/17/2024 Sell (22,013) 11.47 6/18/2024 Sell (99,294) 11.46 6/20/2024 Sell (31,588) 11.46 6/21/2024 Sell (178,871) 11.46 6/24/2024 Sell (171,962) 11.50 6/25/2024 Sell (54,771) 11.53 6/27/2024 Sell (109,159) 11.57 6/28/2024 Sell (300,000) 11.55 7/1/2024 Sell (200,763) 11.51 7/2/2024 Sell (400) 11.55 7/3/2024 Sell (20,274) 11.59 7/5/2024 Sell (265,849) 11.60 7/8/2024 Sell (57,307) 11.62