Saba Capital Management Amends 13D Filing for Neuberger Berman Fund
Ticker: NBXG · Form: SC 13D/A · Filed: Oct 21, 2024 · CIK: 1843181
Sentiment: neutral
Topics: schedule-13d, amendment, activist-investor
TL;DR
Saba Capital updated its stake in Neuberger Berman Next Gen Connectivity Fund. Watch for potential moves.
AI Summary
Saba Capital Management, L.P. filed an amendment (No. 4) to its Schedule 13D on October 21, 2024, regarding Neuberger Berman Next Generation Connectivity Fund Inc. The filing indicates a change in the reporting person's beneficial ownership of the issuer's common shares. Specific details on the exact percentage change or new holdings are not provided in this excerpt.
Why It Matters
This amendment signals a potential shift in the investment strategy or stake held by Saba Capital Management in the Neuberger Berman Next Generation Connectivity Fund, which could influence the fund's future performance and shareholder value.
Risk Assessment
Risk Level: medium — Amendments to Schedule 13D filings often indicate significant changes in a major shareholder's position, which can lead to increased volatility or strategic shifts in the target company.
Key Players & Entities
- Saba Capital Management, L.P. (company) — Reporting person filing the Schedule 13D/A
- Neuberger Berman Next Generation Connectivity Fund Inc. (company) — Subject company of the filing
- Michael (person) — Contact person at Saba Capital Management, L.P.
FAQ
What specific changes in beneficial ownership are detailed in this SC 13D/A filing?
This excerpt does not provide the specific details of the changes in beneficial ownership, only that an amendment (No. 4) has been filed.
What is the CUSIP number for Neuberger Berman Next Generation Connectivity Fund Inc.'s common shares?
The CUSIP number for the common shares of Neuberger Berman Next Generation Connectivity Fund Inc. is 64133Q108.
Who is the filing person for this Schedule 13D/A?
The filing person is Saba Capital Management, L.P.
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.
When was the previous company name for Neuberger Berman Next Generation Connectivity Fund Inc. changed?
The date of the name change from Neuberger Berman 5G Connectivity Fund Inc. to Neuberger Berman Next Generation Connectivity Fund Inc. was January 28, 2021.
Filing Stats: 1,361 words · 5 min read · ~5 pages · Grade level 10.4 · Accepted 2024-10-21 15:28:06
Key Financial Figures
- $0.0001 — Inc (Name of Issuer) Common Shares, $0.0001 par value (Title of Class of Securiti
- $72,391,320 — ported herein. A total of approximately $72,391,320 was paid to acquire the Common Shares r
Filing Documents
- formsc13da.htm (SC 13D/A) — 65KB
- 0001062993-24-017802.txt ( ) — 67KB
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: October 21, 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. 64133Q108 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 8/26/24. All transactions were effectuated in the open market through a broker. Trade Date Buy/Sell Shares Price 8/29/2024 Buy 1,600 12.26 9/9/2024 Buy 8,712 11.80 9/10/2024 Buy 4,906 11.83 9/11/2024 Buy 114,942 11.95 9/12/2024 Buy 118,138 12.15 9/13/2024 Buy 350,039 12.21 9/16/2024 Buy 89,018 12.14 9/17/2024 Buy 13,781 12.26 9/19/2024 Buy 11,791 12.66 9/25/2024 Buy 18,694 12.60 9/26/2024 Buy 18,941 12.72 9/27/2024 Buy 27,413 12.77 10/15/2024 Buy 7,875 12.93 10/17/2024 Buy 24,326 12.87