Filing Details

Accession Number:
0001062993-19-004564
Form Type:
13D Filing
Publication Date:
2019-11-21 14:52:00
Filed By:
Saba Capital
Company:
Saba Capital Income & Opportunities Fund (NYSE:BRW)
Filing Date:
2019-11-21
SEC Url:
13D Filing
Ownership Summary

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 22,874,080 0 22,874,080 22,874,080 15.5%
Boaz R. Weinstein 0 22,874,080 0 22,874,080 22,874,080 15.5%
Saba Capital Management GP 0 22,874,080 0 22,874,080 22,874,080 15.5%
Filing

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D/A

Under the Securities Exchange Act of 1934
(Amendment No. 3)*

VOYA PRIME RATE TRUST
(Name of Issuer)

Common Shares, no par value
(Title of Class of Securities)

92913A100
(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 21, 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 7 Pages)

______________________________

* 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.  92913A100

SCHEDULE 13D/A

Page 2 of 7 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
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH:

7

SOLE VOTING POWER

-0-

8

SHARED VOTING POWER

22,874,0801

9

SOLE DISPOSITIVE POWER

-0-

10

SHARED DISPOSITIVE POWER

22,874,080

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON

22,874,080

12

CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES


[   ]

13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

15.5%

14

TYPE OF REPORTING PERSON

PN; IA

The percentages used herein are calculated based upon 147,787,691 shares of common stock outstanding as of 8/31/2019, as disclosed in the company's Form N-CSRS filed 11/08/2019

__________________________________________
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.  92913A100

SCHEDULE 13D/A

Page 3 of 7 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
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH:

7

SOLE VOTING POWER

-0-

8

SHARED VOTING POWER

22,874,0802

9

SOLE DISPOSITIVE POWER

-0-

10

SHARED DISPOSITIVE POWER

22,874,080

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON

22,874,080

12

CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES


[   ]

13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

15.5%

14

TYPE OF REPORTING PERSON

IN

The percentages used herein are calculated based upon 147,787,691 shares of common stock outstanding as of 8/31/2019, as disclosed in the company's Form N-CSRS filed 11/08/2019.

__________________________________________
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.  92913A100

SCHEDULE 13D/A

Page 4 of 7 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
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH:

7

SOLE VOTING POWER

-0-

8

SHARED VOTING POWER

22,874,0803

9

SOLE DISPOSITIVE POWER

-0-

10

SHARED DISPOSITIVE POWER

22,874,080

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON

22,874,080

12

CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES


[   ]

13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

15.5%

14

TYPE OF REPORTING PERSON

OO

The percentages used herein are calculated based upon 147,787,691 shares of common stock outstanding as of 8/31/2019, as disclosed in the company's Form N-CSRS filed 11/08/2019.

__________________________________________
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.  92913A100

SCHEDULE 13D/A

Page 5 of 7 Pages

 

Item 1.

SECURITY AND ISSUER

 

 

 

This Amendment No. 3 amends and supplements the statement on Schedule 13D filed with the SEC on 10/16/19, as amended by Amendment No.1 filed on 11/4/19 and Amendment No.2 filed 11/18/19, with respect to the common shares of Voya Prime Rate Trust.  This Amendment No. 3 amends Item 3 as set forth below.

 

 

Item 3.

SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION

 

 

 

Funds for the purchase of the Common Shares were derived from the subscription proceeds from investors and the capital appreciation thereon and margin account borrowings made in the ordinary course of business.  In such instances, the positions held in the margin accounts are pledged as collateral security for the repayment of debit balances in the account, which may exist from time to time.  Since other securities are held in the margin accounts, it is not possible to determine the amounts, if any, of margin used to purchase the Common Shares reported herein. A total of approximately $109,873,547 was paid to acquire the Common Shares reported herein.



CUSIP No.  92913A100

SCHEDULE 13D/A

Page 6 of 7 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

 

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.  92913A100

SCHEDULE 13D/A

Page 7 of 7 Pages

 

Schedule A

 

This Schedule sets forth information with respect to each purchase and sale of Shares which were effectuated by a Reporting Person since Amendment No. 2 filing on 11/18/2019. All transactions were effectuated in the open market through a broker. 

 

Trade Date

Common Shares
Purchased

Price Per
    Common Share

11/19/2019             

3,500

4.84