Saba Capital Amends Nuveen MA Muni Fund Stake; Activist Intent Eyed
Ticker: NMT · Form: SC 13D/A · Filed: Jan 29, 2024 · CIK: 897419
| Field | Detail |
|---|---|
| Company | Nuveen Massachusetts Quality Municipal Income Fund (NMT) |
| Form Type | SC 13D/A |
| Filed Date | Jan 29, 2024 |
| Risk Level | medium |
| Pages | 4 |
| Reading Time | 5 min |
| Key Dollar Amounts | $0.01, $5,919,791 |
| Sentiment | mixed |
Complexity: simple
Sentiment: mixed
Topics: activist-investing, amendment, fund-management, insider-ownership
TL;DR
**Saba Capital just updated its stake in Nuveen MA Muni Fund, watch for potential activist moves!**
AI Summary
Saba Capital Management, L.P. filed an amended Schedule 13D/A on January 29, 2024, updating its beneficial ownership in Nuveen Massachusetts Quality Municipal Income Fund. This amendment, triggered by an event on January 25, 2024, indicates a change in their holdings or investment intent, though specific transaction details are not provided in this excerpt. Investors should note that Saba Capital Management is an activist investor, and changes in their filings often signal potential future actions that could influence the fund's management or structure, impacting the stock's value.
Why It Matters
This filing signals a potential shift in Saba Capital Management's strategy regarding Nuveen Massachusetts Quality Municipal Income Fund, which could lead to activist actions impacting the fund's governance or operations.
Risk Assessment
Risk Level: medium — The involvement of an activist investor like Saba Capital Management can introduce volatility and uncertainty, as their actions may lead to significant changes in the fund's operations or management.
Analyst Insight
Investors should monitor future filings from Saba Capital Management and news related to Nuveen Massachusetts Quality Municipal Income Fund for potential activist campaigns or strategic changes, as these could impact the fund's performance and share price.
Key Numbers
- $0.01 — par value per common share (identifies the nominal value of the shares of the Nuveen Massachusetts Quality Municipal Income Fund)
- 67061E104 — CUSIP Number (unique identifier for the Common Shares of Nuveen Massachusetts Quality Municipal Income Fund)
Key Players & Entities
- Saba Capital Management, L.P. (company) — the entity filing the SC 13D/A
- NUVEEN MASSACHUSETTS QUALITY MUNICIPAL INCOME FUND (company) — the subject company of the filing
- BOAZ R. WEINSTEIN (person) — a group member associated with the filing
- SABA CAPITAL MANAGEMENT GP, LLC (company) — a group member associated with the filing
- Michael D'Angelo (person) — contact person for Saba Capital Management, L.P.
Forward-Looking Statements
- Saba Capital Management, L.P. will likely engage in further communication or actions with the management of Nuveen Massachusetts Quality Municipal Income Fund. (Saba Capital Management, L.P.) — medium confidence, target: Q2 2024
FAQ
What is the purpose of this SC 13D/A filing?
This SC 13D/A filing is an amendment (Amendment No. 1) to a previously filed Schedule 13D, indicating a change in beneficial ownership or investment intent by Saba Capital Management, L.P. regarding the Nuveen Massachusetts Quality Municipal Income Fund.
Who is the filer of this SC 13D/A?
The filer of this SC 13D/A is Saba Capital Management, L.P., located at 405 Lexington Avenue, 58th Floor, New York, NY 10174.
What is the subject company of this filing?
The subject company is NUVEEN MASSACHUSETTS QUALITY MUNICIPAL INCOME FUND, with its business address at 333 West Wacker Dr, Chicago, IL 60606.
When was the event that triggered this filing?
The event which required the filing of this statement occurred on January 25, 2024.
What is the CUSIP number for the securities involved in this filing?
The CUSIP number for the Common Shares, $0.01 par value, of the Nuveen Massachusetts Quality Municipal Income Fund is 67061E104.
Filing Stats: 1,327 words · 5 min read · ~4 pages · Grade level 11.7 · Accepted 2024-01-29 09:43:21
Key Financial Figures
- $0.01 — FUND (Name of Issuer) Common Shares, $0.01 par value (Title of Class of Securiti
- $5,919,791 — ported herein. A total of approximately $5,919,791 was paid to acquire the Common Shares r
Filing Documents
- formsc13da.htm (SC 13D/A) — 61KB
- 0001062993-24-001484.txt ( ) — 62KB
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: January 29, 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. 67061E104 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 on 1/4/24. All transactions were effectuated in the open market through a broker. Trade Date Buy/Sell Shares Price 1/4/2024 Buy 2,467 10.61 1/5/2024 Buy 22,371 10.62 1/8/2024 Buy 5,146 10.67 1/10/2024 Buy 5,539 10.66 1/11/2024 Buy 11,002 10.65 1/12/2024 Buy 5,700 10.65 1/16/2024 Buy 16,250 10.65 1/18/2024 Buy 1,263 10.49 1/23/2024 Buy 4,833 10.45 1/24/2024 Buy 18,332 10.48 1/25/2024 Buy 6,201 10.51