Saba Capital Buys 10% of Nuveen Arizona Muni Fund

TL;DR

**Saba Capital now owns 10% of AZQ! Big move.**

AI Summary

Saba Capital Management, L.P. has filed a Schedule 13D on May 17, 2024, regarding Nuveen Arizona Quality Municipal Income Fund. Saba Capital Management, L.P. is reporting beneficial ownership of 1,700,000 shares, representing 10.0% of the outstanding common shares. This filing indicates a significant stake and potential for activist involvement.

Why It Matters

This filing signals potential activist investor interest in Nuveen Arizona Quality Municipal Income Fund, which could lead to changes in fund management, strategy, or shareholder returns.

Risk Assessment

Risk Level: medium — The filing indicates a significant ownership stake by an activist investor, which could lead to changes or pressure on the fund's management.

Key Numbers

• 1,700,000 — Shares Owned (Represents 10.0% of the outstanding common shares of Nuveen Arizona Quality Municipal Income Fund.)
• 10.0% — Ownership Stake (Indicates a significant position held by Saba Capital Management, L.P.)

Key Players & Entities

• Saba Capital Management, L.P. (company) — Filing entity and beneficial owner
• Nuveen Arizona Quality Municipal Income Fund (company) — Subject company
• 1,700,000 (dollar_amount) — Number of shares beneficially owned
• 10.0% (dollar_amount) — Percentage of outstanding common shares owned
• 20240517 (date) — Filing date

FAQ

Key Financial Figures

• $0.01 — FUND (Name of Issuer) Common Shares, $0.01 par value (Title of Class of Securiti
• $6,237,733 — ported herein. A total of approximately $6,237,733 was paid to acquire the Common Shares r

Filing Documents

• formsc13d.htm (SC 13D) — 67KB
• exhibit1.htm (EX-1) — 4KB
• 0001062993-24-010575.txt ( ) — 73KB

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: May 17, 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. 67061W104 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 4/5/2024 Sell (10,000) 10.89 5/1/2024 Buy 694 10.61 5/7/2024 Buy 600 10.81 5/10/2024 Buy 1,754 10.80 5/13/2024 Buy 42,966 10.87 5/15/2024 Buy 3,806 10.89 5/16/2024 Buy 1,335 10.87

View Full Filing

View this SC 13D filing on SEC EDGAR