Saba Capital Management Files SC 13D for New Germany Fund
Ticker: GF · Form: SC 13D · Filed: Sep 9, 2024 · CIK: 858706
Sentiment: neutral
Topics: ownership-change, sec-filing, activist-investor
Related Tickers: NGE
TL;DR
**Saba Capital Management just filed a 13D on New Germany Fund. Watch this space.**
AI Summary
On September 6, 2024, Saba Capital Management, L.P. filed an SC 13D with the SEC regarding The New Germany Fund, Inc. The filing indicates a change in beneficial ownership of the common shares of the company. Saba Capital Management, L.P. is listed as the filer, with Boaz R. Weinstein and Saba Capital Management GP, LLC as group members.
Why It Matters
This filing signals a potential shift in control or influence over The New Germany Fund, Inc., which could impact its investment strategy and shareholder value.
Risk Assessment
Risk Level: medium — SC 13D filings often precede activist campaigns or significant changes in a company's ownership structure, which can introduce volatility.
Key Players & Entities
- Saba Capital Management, L.P. (company) — Filer of the SC 13D
- The New Germany Fund, Inc. (company) — Subject company
- Boaz R. Weinstein (person) — Group member of the filer
- Saba Capital Management GP, LLC (company) — Group member of the filer
- Michael D'Angelo (person) — Person authorized to receive notices
FAQ
What is the CUSIP number for The New Germany Fund, Inc. common shares?
The CUSIP number for The New Germany Fund, Inc. common shares is 644465106.
When was the SC 13D filing submitted?
The SC 13D filing was submitted on September 9, 2024, with the date as of change also being September 9, 2024.
Who is listed as a group member in this filing?
Boaz R. Weinstein and Saba Capital Management GP, LLC are listed as group members.
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.
What is the par value of The New Germany Fund, Inc.'s common shares?
The par value of The New Germany Fund, Inc.'s common shares is $0.001.
Filing Stats: 2,452 words · 10 min read · ~8 pages · Grade level 12.3 · Accepted 2024-09-09 17:29:46
Key Financial Figures
- $0.001 — Inc. (Name of Issuer) Common Shares, $0.001 par value (Title of Class of Securities
- $6,940,607 — ported herein. A total of approximately $6,940,607 was paid to acquire the Common Shares r
Filing Documents
- formsc13d.htm (SC 13D) — 100KB
- exhibit1.htm (EX-1) — 5KB
- 0001062993-24-016317.txt ( ) — 106KB
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: September 9, 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. 644465106 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 7/11/2024 Buy 18,833 8.54 7/12/2024 Buy 9,703 8.63 7/15/2024 Buy 28,632 8.58 7/16/2024 Buy 87,669 8.56 7/17/2024 Buy 11,495 8.49 7/24/2024 Buy 385 8.29 7/29/2024 Buy 37,088 8.29 7/30/2024 Buy 16,791 8.34 8/1/2024 Buy 5,923 8.26 8/6/2024 Buy 5,672 8.02 8/7/2024 Buy 67 8.08 8/8/2024 Buy 9,621 8.16 8/9/2024 Buy 39,302 8.16 8/14/2024 Buy 41,800 8.20 8/15/2024 Buy 20,664 8.32 8/19/2024 Buy 5,211 8.35 8/20/2024 Buy 25,392 8.35 8/21/2024 Buy 77,490 8.40 8/22/2024 Buy 15,623 8.43 8/26/2024 Buy 28,365 8.46 8/27/2024 Buy 9,596 8.51 8/28/2024 Buy 300 8.49 8/29/2024 Buy 10,424 8.54 8/30/2024 Buy 100 8.55 9/6/2024 Buy 4,189 8.38