Saba Capital Amends 13D Filing for Neuberger Berman Municipal Fund
Ticker: NBH · Form: SC 13D/A · Filed: Jun 10, 2024 · CIK: 1178839
Sentiment: neutral
Topics: activist-investor, sec-filing, municipal-bonds
TL;DR
Saba Capital updated its stake in Neuberger Berman Muni Fund - watch this space.
AI Summary
Saba Capital Management, L.P. has filed an amendment (Amendment No. 3) to its Schedule 13D on June 10, 2024, regarding its holdings in Neuberger Berman Municipal Fund Inc. The filing indicates a change in the reporting person's beneficial ownership of the issuer's common shares.
Why It Matters
This filing signals potential shifts in activist investor strategy or holdings within the municipal bond fund sector, which could impact the fund's management or shareholder value.
Risk Assessment
Risk Level: medium — Changes in beneficial ownership filings by activist investors like Saba Capital can precede significant corporate actions or proxy fights.
Key Players & Entities
- Saba Capital Management, L.P. (company) — Reporting Person
- Neuberger Berman Municipal Fund Inc. (company) — Issuer
- Boaz R. Weinstein (person) — Group Member
FAQ
What is the specific change in beneficial ownership reported in this amendment?
The filing is an amendment (No. 3) to a Schedule 13D, indicating a change in the reporting person's beneficial ownership, but the exact percentage or number of shares changing hands is not detailed in the provided text.
Who is the reporting person filing this Schedule 13D/A?
The reporting person is Saba Capital Management, L.P.
What is the name of the issuer whose securities are being reported on?
The issuer is Neuberger Berman Municipal Fund Inc.
When was this amendment filed with the SEC?
This amendment was filed on June 10, 2024.
What is the CUSIP number for the common shares of Neuberger Berman Municipal Fund Inc.?
The CUSIP number is 64124P101.
Filing Stats: 1,348 words · 5 min read · ~4 pages · Grade level 10.5 · Accepted 2024-06-10 12:23:15
Key Financial Figures
- $0.0001 — D INC (Name of Issuer) Common Shares, $0.0001 par value (Title of Class of Securitie
- $20,994,419 — ported herein. A total of approximately $20,994,419 was paid to acquire the Common Shares r
Filing Documents
- formsc13da.htm (SC 13D/A) — 69KB
- 0001062993-24-012292.txt ( ) — 71KB
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: June 10, 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. 64124P101 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/A on 4/11/24. All transactions were effectuated in the open market through a broker. Trade Date Buy/Sell Shares Price 4/30/2024 Buy 23,061 10.08 5/1/2024 Buy 16,254 10.11 5/10/2024 Buy 17,128 10.27 5/15/2024 Buy 28,266 10.31 5/16/2024 Buy 2,047 10.31 5/22/2024 Buy 55,200 10.27 5/23/2024 Buy 1,747 10.24 5/28/2024 Buy 28,386 10.28 5/29/2024 Buy 49,479 10.19 5/30/2024 Buy 42,684 10.22 6/3/2024 Buy 8,340 10.29 6/6/2024 Buy 24,848 10.42 6/7/2024 Buy 56,588 10.34