Saba Capital Files 13D for BNY Mellon Municipals
Ticker: LEO · Form: SC 13D · Filed: Jun 12, 2024 · CIK: 818972
Sentiment: neutral
Topics: activist-investor, ownership-change, sec-filing
TL;DR
**SABA CAPITAL TAKES STAKE IN BNY MELLON MUNICIPALS**
AI Summary
Saba Capital Management, L.P. has filed a Schedule 13D on June 12, 2024, indicating a change in beneficial ownership of BNY Mellon Strategic Municipals, Inc. The filing does not specify the exact number of shares or dollar amounts involved, but it signifies Saba Capital's increased interest or stake in the company.
Why It Matters
This filing signals a potential shift in control or influence for BNY Mellon Strategic Municipals, Inc., as a significant investor like Saba Capital Management has disclosed a stake.
Risk Assessment
Risk Level: medium — Schedule 13D filings often precede activist campaigns or significant corporate actions, introducing uncertainty.
Key Players & Entities
- Saba Capital Management, L.P. (company) — Filing entity
- BNY Mellon Strategic Municipals, Inc. (company) — Subject company
- Boaz R. Weinstein (person) — Group member of Saba Capital Management
FAQ
What is the primary purpose of this Schedule 13D filing?
The filing is to report a change in beneficial ownership of BNY Mellon Strategic Municipals, Inc. by Saba Capital Management, L.P.
Who is the subject company of this filing?
The subject company is BNY Mellon Strategic Municipals, Inc.
Who is the entity filing the Schedule 13D?
Saba Capital Management, L.P. is the entity filing the Schedule 13D.
When was this filing made?
The filing was made on June 12, 2024.
What is the CUSIP number for the securities involved?
The CUSIP number is 05588W108.
Filing Stats: 2,461 words · 10 min read · ~8 pages · Grade level 12.4 · Accepted 2024-06-12 08:07:17
Key Financial Figures
- $0.001 — INC (Name of Issuer) Common Shares, $0.001 par value (Title of Class of Securiti
- $19,333,436 — ported herein. A total of approximately $19,333,436 was paid to acquire the Common Shares r
Filing Documents
- formsc13d.htm (SC 13D) — 94KB
- exhibit1.htm (EX-1) — 5KB
- 0001062993-24-012445.txt ( ) — 101KB
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 12, 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. 05588W108 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 4/12/2024 Buy 44,196 5.89 4/15/2024 Buy 94,697 5.86 4/17/2024 Buy 111,382 5.86 4/18/2024 Buy 115,024 5.86 4/19/2024 Buy 44,593 5.87 4/24/2024 Buy 15,836 5.88 4/26/2024 Buy 38,350 5.86 4/29/2024 Buy 13,886 5.88 4/30/2024 Buy 40,232 5.89 5/1/2024 Buy 119,254 5.90 5/2/2024 Buy 84,913 5.93 5/3/2024 Buy 30,565 6.00 5/8/2024 Buy 17,055 6.06 5/9/2024 Buy 95,795 6.08 5/10/2024 Buy 62,603 6.09 5/23/2024 Buy 45,748 5.95 5/28/2024 Buy 83,542 5.97 5/28/2024 Buy 8,366 5.94 5/30/2024 Buy 230,000 5.91 6/3/2024 Buy 5,695 5.96 6/4/2024 Buy 1,300 6.02 6/5/2024 Buy 2,138 6.03 6/6/2024 Buy 150,213 6.04 6/7/2024 Buy 20,424 6.01 6/10/2024 Buy 30,222 6.03 6/11/2024 Buy 89,598 6.05