According to a recent 13G filing with the SEC, Boaz Weinstein‘s Saba Capital has acquired additional shares of First Trust High Income Long/Short Fund (NYSE:FSD), with it currently owning 1.83 million shares which account for 5.19% of the stock’s float. This represents a significant increase to the fund’s stake, as it previously held 1.18 million shares, as disclosed in its latest 13F filing, for the end of March.
First Trust High Income Long/Short Fund is a diversified closed-end management investment company that has two main goals: providing capital appreciation and current income. Year-to-date, the company’s stock is up by 5.54%.
Among funds tracked by Insider Monkey, just four investors were long First Trust High Income Long/Short Fund (NYSE:FSD) at the end of March, down from six funds long the stock a quarter earlier. The most valuable position in the company was the previous holding of Saba Capital, while the second-biggest was held by Brian Taylor’s Pine River Capital Management, being worth around $5.6 million. The other professional money managers with similar bullishness contained Clint Carlson’s Carlson Capital, and Allan Teh’s Kamunting Street Capital.
Investors who lost interest in the stock and sold off their positions in the first quarter were Andrew Weiss’ Weiss Asset Management, which dumped the largest stake, valued at about $0.7 million in stock. William Michaelcheck’s Mariner Investment Group also dropped its stock, about $0.6 million worth.
You can access the original SEC filing by clicking here.
Ownership Summary Table
|Name||Sole Voting Power||Shared Voting Power||Sole Dispositive Power||Shared Dispositive Power||Aggregate Amount Owned Power||Percent of Class|
|Saba Capital Management||1,829,904||1,829,904||5.19%|
|Boaz R. Weinstein||1,829,904||1,829,904||5.19%|
Page 1 of 6 – SEC Filing
SECURITIES AND EXCHANGE COMMISSION
Under the Securities Exchange Act of 1934
(Amendment No. _)*
FIRST TRUST HIGH INCOME LONG/SHORT
(Name of Issuer)
(Title of Class of
June 29, 2016
(Date of Event which
Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to
which this Schedule is filed:
[_] Rule 13d-1(b)
[X] Rule 13d-1(c)
[_] Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a
reporting persons initial filing on this form with respect to the subject class
of securities, and for any subsequent amendment containing information which
would alter the disclosures provided in a prior cover page.
The information required in 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).