Filing Details
- Accession Number:
- 0001062993-19-004562
- Form Type:
- 13D Filing
- Publication Date:
- 2019-11-21 14:33:14
- Filed By:
- Saba Capital
- Company:
- Dtf Tax-Free Income 2028 Term Fund Inc (NYSE:DTF)
- Filing Date:
- 2019-11-21
- SEC Url:
- 13D Filing
Please notice the below summary table is generated without human intervention and may contain errors. Please refer to the complete filing displayed below for exact figures.
| Name | Sole Voting Power | Shared Voting Power | Sole Dispositive Power | Shared Dispositive Power | Aggregate Amount Owned Power | Percent of Class |
|---|---|---|---|---|---|---|
| Saba Capital Management | 0 | 817,194 | 0 | 817,194 | 817,194 | 9.6% |
| Boaz R. Weinstein | 0 | 817,194 | 0 | 817,194 | 817,194 | 9.6% |
| Saba Capital Management GP | 0 | 817,194 | 0 | 817,194 | 817,194 | 9.6% |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D/A
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
DTF TAX-FREE INCOME INC.
(Name of Issuer)
Common Shares, $0.01 par value
(Title of Class of Securities)
23334J107
(CUSIP Number)
Saba Capital Management, L.P.
405 Lexington Avenue
58th Floor
New York, NY 10174
Attention: Michael D'Angelo
(212) 542-4635
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
November 20, 2019
(Date of Event Which Requires Filing of This Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), Rule 13d-1(f) or Rule 13d-1(g), check the following box. [X]
(Page 1 of 8 Pages)
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* The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
| CUSIP No. 23334J107 | SCHEDULE 13D | Page 2 of 8 Pages |
| 1 | NAME OF REPORTING PERSON Saba Capital Management, L.P. | |||
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) [ ] (b) [ ] | ||
| 3 | SEC USE ONLY | |||
| 4 | SOURCE OF FUNDS OO (see Item 3) | |||
| 5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) | [ ] | ||
| 6 | CITIZENSHIP OR PLACE OF ORGANIZATION Delaware | |||
| NUMBER OF | 7 | SOLE VOTING POWER -0- | ||
| 8 | SHARED VOTING POWER 817,1941 | |||
| 9 | SOLE DISPOSITIVE POWER -0- | |||
| 10 | SHARED DISPOSITIVE POWER 817,194 | |||
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON 817,194 | |||
| 12 | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | [ ] | ||
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 9.6% | |||
| 14 | TYPE OF REPORTING PERSON PN; IA | |||
The percentages used herein are calculated based upon 8,520,685 shares of common stock outstanding as of 10/31/18, as disclosed in the company's Annual Report filed 10/11/19.
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1 A portion of the shares are held by Saba Closed-End Funds ETF, which will vote its shares pursuant to its Statement of Additional Information.
| CUSIP No. 23334J107 | SCHEDULE 13D | Page 3 of 8 Pages |
| 1 | NAME OF REPORTING PERSON Boaz R. Weinstein | |||
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) [ ] (b) [ ] | ||
| 3 | SEC USE ONLY | |||
| 4 | SOURCE OF FUNDS OO (see Item 3) | |||
| 5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) | [ ] | ||
| 6 | CITIZENSHIP OR PLACE OF ORGANIZATION United States | |||
| NUMBER OF | 7 | SOLE VOTING POWER -0- | ||
| 8 | SHARED VOTING POWER 817,1942 | |||
| 9 | SOLE DISPOSITIVE POWER -0- | |||
| 10 | SHARED DISPOSITIVE POWER 817,194 | |||
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON 817,194 | |||
| 12 | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | [ ] | ||
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 9.6% | |||
| 14 | TYPE OF REPORTING PERSON IN | |||
The percentages used herein are calculated based upon 8,520,685 shares of common stock outstanding as of 10/31/18, as disclosed in the company's Annual Report filed 10/11/19.
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2 A portion of the shares are held by Saba Closed-End Funds ETF, which will vote its shares pursuant to its Statement of Additional Information.
| CUSIP No. 23334J107 | SCHEDULE 13D | Page 4 of 8 Pages |
| 1 | NAME OF REPORTING PERSON Saba Capital Management GP, LLC | |||
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) [ ] (b) [ ] | ||
| 3 | SEC USE ONLY | |||
| 4 | SOURCE OF FUNDS OO (see Item 3) | |||
| 5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) | [ ] | ||
| 6 | CITIZENSHIP OR PLACE OF ORGANIZATION United States | |||
| NUMBER OF | 7 | SOLE VOTING POWER -0- | ||
| 8 | SHARED VOTING POWER 817,1943 | |||
| 9 | SOLE DISPOSITIVE POWER -0- | |||
| 10 | SHARED DISPOSITIVE POWER 817,194 | |||
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON 817,194 | |||
| 12 | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | [ ] | ||
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 9.6% | |||
| 14 | TYPE OF REPORTING PERSON OO | |||
The percentages used herein are calculated based upon 8,520,685 shares of common stock outstanding as of 10/31/18, as disclosed in the company's Annual Report filed 10/11/19.
_____________________________________
3 A portion of the shares are held by Saba Closed-End Funds ETF, which will vote its shares pursuant to its Statement of Additional Information.
| CUSIP No. 23334J107 | SCHEDULE 13D | Page 5 of 8 Pages |
| Item 1. | SECURITY AND ISSUER |
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| This Amendment No.1 amends and supplements the statement on Schedule 13D filed with the SEC on 11/20/19, with respect to the common shares ("Common Shares") of DTF Tax-Free Income Inc. This Amendment No.1 amends Item 2 as set forth below. |
| Item 2. | IDENTITY AND BACKGROUND | |
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| (a) | This Schedule 13D is being jointly filed by: | |
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| (i) | Saba Capital Management, L.P., a Delaware limited partnership ("Saba Capital"); |
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| (ii) | Saba Capital Management GP, LLC, a Delaware limited liability company ("Saba GP"); and |
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| (iii) | Mr. Boaz R. Weinstein ("Mr. Weinstein"), |
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| (together, the "Reporting Persons"). Any disclosures herein with respect to persons other than the Reporting Persons are made on information and belief after making inquiry to the appropriate party. | |
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| The filing of this statement should not be construed as an admission that any Reporting Person is, for the purposes of Sections 13 of the Securities Exchange Act of 1934, the beneficial owner of the Common Shares reported herein. | |
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| (b) | The address of the business office of each of the Reporting Persons is 405 Lexington Avenue, 58th Floor, New York, New York 10174. | |
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| (c) | The principal business of: (i) Saba Capital is to serve as investment manager to private and public investment funds and/or accounts, (ii) Saba GP is to serve as general partner of the Saba Capital and other affiliated entities, and (iii) Mr. Weinstein, an individual, is managing member of the general partner of Saba Capital and other affiliated entities. | |
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| (d) | The Reporting Persons have not, during the last five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors). | |
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| (e) | The Reporting Persons have not, during the last five years, been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and, as a result of such proceeding, was, or is subject to, a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, Federal or State securities laws or finding any violation with respect to such laws. | |
| CUSIP No. 23334J107 | SCHEDULE 13D | Page 6 of 8 Pages |
| (f) | Saba Capital is organized as a limited partnership under the laws of the State of Delaware. Saba GP is organized as a limited liability company under the laws of the State of Delaware. Mr. Weinstein is a citizen of the United States. |
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| The Reporting Persons have executed a Joint Filing Agreement, dated November 20, 2019 with respect to the joint filing of this Schedule 13D, and any amendment or amendments hereto, a copy of which is attached hereto as Exhibit 1. |
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| Item 7. | MATERIAL TO BE FILED AS EXHIBITS |
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| Exhibit 1: | Joint Filing Agreement as required by Rule 13d-1(k)(1) under the Act. |
| CUSIP No. 23334J107 | SCHEDULE 13D | Page 7 of 8 Pages |
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: November 21, 2019
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| SABA CAPITAL MANAGEMENT, L.P.
By: /s/ Michael D'Angelo |
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| Name: Michael D'Angelo Title: Chief Compliance Officer |
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| SABA CAPITAL MANAGEMENT GP, LLC
By: /s/ Michael D'Angelo Name: Michael D'Angelo Title: Authorized Signatory |
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| BOAZ R. WEINSTEIN
By: /s/ Michael D'Angelo |
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| Name: Michael D'Angelo |
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| Title: Attorney-in-fact* |
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* 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
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| CUSIP No. 23334J107 | SCHEDULE 13D | Page 8 of 8 Pages |
EXHIBIT 1
JOINT FILING AGREEMENT
PURSUANT TO RULE 13d-1(k)
The undersigned acknowledge and agree that the foregoing statement on Schedule 13D is filed on behalf of each of the undersigned and that all subsequent amendments to this statement on Schedule 13D shall be filed on behalf of each of the undersigned without the necessity of filing additional joint filing agreements. The undersigned acknowledge that each shall be responsible for the timely filing of such amendments, and for the completeness and accuracy of the information concerning him or it contained herein and therein, but shall not be responsible for the completeness and accuracy of the information concerning the others, except to the extent that he or it knows or has reason to believe that such information is inaccurate.
DATE: November 20, 2019
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| SABA CAPITAL MANAGEMENT, L.P.
/s/ Michael D'Angelo |
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| Name: Michael D'Angelo Title: Chief Compliance Officer |
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| SABA CAPITAL MANAGEMENT GP, LLC
/s/ Michael D'Angelo Name: Michael D'Angelo Title: Authorized Signatory |
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| BOAZ R. WEINSTEIN
/s/ Michael D'Angelo |
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| Name: Michael D'Angelo |
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| Title: Attorney-in-fact* |
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| * 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 |
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