Saba Capital Discloses Stake in Invesco Municipal Trust
Ticker: VKQ · Form: SC 13D · Filed: Apr 26, 2024 · CIK: 877463
| Field | Detail |
|---|---|
| Company | Invesco Municipal Trust (VKQ) |
| Form Type | SC 13D |
| Filed Date | Apr 26, 2024 |
| Risk Level | medium |
| Pages | 8 |
| Reading Time | 10 min |
| Key Dollar Amounts | $0.01, $26,379,296 |
| Sentiment | neutral |
Sentiment: neutral
Topics: activist-investor, stakeholder-filing, closed-end-fund
TL;DR
Saba Capital just filed a 13D on Invesco Municipal Trust. Watch this space.
AI Summary
Saba Capital Management, L.P. filed an SC 13D on April 26, 2024, disclosing its beneficial ownership of Invesco Municipal Trust. The filing indicates a change in reporting on April 26, 2024, with Saba Capital Management GP, LLC also listed as a group member. The filing does not specify dollar amounts or exact share counts but signals a significant stake.
Why It Matters
This filing indicates that Saba Capital Management, a known activist investor in closed-end funds, has taken a significant position in Invesco Municipal Trust, potentially leading to changes in the fund's management or strategy.
Risk Assessment
Risk Level: medium — The filing indicates a significant stake by an activist investor, which could lead to corporate actions or changes that impact the stock price.
Key Players & Entities
- Saba Capital Management, L.P. (company) — Filing entity
- Invesco Municipal Trust (company) — Subject company
- Saba Capital Management GP, LLC (company) — Group member
- Boaz R. Weinstein (person) — Group member
FAQ
What is the exact percentage of Invesco Municipal Trust's common shares beneficially owned by Saba Capital Management, L.P. as of April 26, 2024?
The provided text does not specify the exact percentage or number of shares beneficially owned by Saba Capital Management, L.P. as of April 26, 2024.
When was the last reported change in control or beneficial ownership for Invesco Municipal Trust?
The filing indicates the 'DATE AS OF CHANGE' is 20240426.
What is the primary business of Invesco Municipal Trust?
Invesco Municipal Trust is an investment company, as indicated by its filing as a subject company in an SC 13D.
What is the business address of Saba Capital Management, L.P.?
The business address of Saba Capital Management, L.P. is 405 Lexington Avenue, 58th Floor, New York, NY 10174.
Has Saba Capital Management, L.P. previously filed SC 13D forms for other companies?
While not explicitly stated in this filing, Saba Capital Management is known for its activity in filing SC 13D forms, often indicating activist investment strategies.
Filing Stats: 2,386 words · 10 min read · ~8 pages · Grade level 13.9 · Accepted 2024-04-26 08:20:09
Key Financial Figures
- $0.01 — rust (Name of Issuer) Common Shares, $0.01 par value (Title of Class of Securiti
- $26,379,296 — ported herein. A total of approximately $26,379,296 was paid to acquire the Common Shares r
Filing Documents
- formsc13d.htm (SC 13D) — 77KB
- exhibit1.htm (EX-1) — 5KB
- 0001062993-24-008825.txt ( ) — 84KB
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: April 26, 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. 46131J103 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 4/11/2024 Buy 12,017 9.26 4/12/2024 Buy 33,621 9.31 4/15/2024 Buy 63,109 9.21 4/17/2024 Buy 4,327 9.23 4/18/2024 Buy 59,191 9.23 4/19/2024 Buy 46,392 9.24 4/22/2024 Buy 63,423 9.23 4/23/2024 Buy 1,646 9.29 4/24/2024 Buy 37,716 9.30