Form 4: Saba Capital Management Sells Shares in Invesco Trust for Investment Grade New York Municipals
SEC Form 4
Saba Capital Management, a 10% owner and director, disposed of 803,267 shares of Invesco Trust for Investment Grade New York Municipals (VTN) at a price of $11.5 per share on October 3, 2024.
Summary
- On October 3, 2024, Saba Capital Management, L.P., a 10% owner and director of Invesco Trust for Investment Grade New York Municipals (VTN), sold 803,267 shares of common stock.
- The transaction was executed at a price of $11.5 per share.
- Following the transaction, Saba Capital Management beneficially owns 1,877,124 shares indirectly.
Sentiment
Score: 5
Explanation: Neutral sentiment as it's a standard disclosure of share sales. The impact on the company depends on the reasons behind the sale and market perception.
Industry Context
Form 4 filings are standard disclosures required by the SEC when insiders of a publicly traded company buy or sell the company's securities. This filing indicates a change in ownership by a significant shareholder.
Key Dates
| Date | Description |
|---|---|
| 10/03/2024 | Date of transaction: Saba Capital Management sold shares of Invesco Trust for Investment Grade New York Municipals. |
| 10/07/2024 | Date of signature for the Form 4 filing by Zachary Gindes on behalf of Saba Capital Management, L.P., and by Boaz Weinstein. |
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