Filing Details

Accession Number:
0001062993-24-010853
Form Type:
13D Filing
Publication Date:
2024-05-20 20:00:00
Filed By:
Saba Capital
Company:
Blackrock New York Municipal Income Trust
Filing Date:
2024-05-21
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 2,195,495 0 2,195,495 2,195,495 9.10%
Boaz R. Weinstein 0 2,195,495 0 2,195,495 2,195,495 9.10%
Saba Capital Management GP 0 2,195,495 0 2,195,495 2,195,495 9.10%
Filing

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13D/A

Under the Securities Exchange Act of 1934

(Amendment No. 5)*

BlackRock New York Municipal Income Trust

(Name of Issuer)

Common Shares, $0.001 par value

(Title of Class of Securities)

09248L106

(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)

May 17, 2024

(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. [  ]

(Page 1 of 6 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.  09248L106 SCHEDULE 13D/A Page 2 of 6 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
       2,195,495
9 SOLE DISPOSITIVE POWER
       -0-
10 SHARED DISPOSITIVE POWER
       2,195,495
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
       2,195,495
12

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

13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
       9.10%
14 TYPE OF REPORTING PERSON
       PN; IA

The percentages used herein are calculated based upon 24,117,105 Common Shares outstanding as of 1/31/24, as disclosed in the Issuer’s N-CSRS filed 4/3/24.

CUSIP No.  09248L106 SCHEDULE 13D/A Page 3 of 6 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
       2,195,495
9 SOLE DISPOSITIVE POWER
       -0-
10 SHARED DISPOSITIVE POWER
       2,195,495
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
       2,195,495
12

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

13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
       9.10%
14 TYPE OF REPORTING PERSON
       IN

The percentages used herein are calculated based upon 24,117,105 Common Shares outstanding as of 1/31/24, as disclosed in the Issuer’s N-CSRS filed 4/3/24.

CUSIP No.  09248L106 SCHEDULE 13D/A Page 4 of 6 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
       Delaware
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH:
7 SOLE VOTING POWER
       -0-
8 SHARED VOTING POWER
       2,195,495
9 SOLE DISPOSITIVE POWER
       -0-
10 SHARED DISPOSITIVE POWER
       2,195,495
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
       2,195,495
12

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

13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
       9.10%
14 TYPE OF REPORTING PERSON
       OO

The percentages used herein are calculated based upon 24,117,105 Common Shares outstanding as of 1/31/24, as disclosed in the Issuer’s N-CSRS filed 4/3/24.

CUSIP No.  09248L106 SCHEDULE 13D/A Page 5 of 6 Pages

Item 1.

SECURITY AND ISSUER

 

 

 

This Amendment No. 5 amends and supplements the statement on Schedule 13D filed with the SEC on 9/29/23, as amended by Amendment No. 1 filed 12/4/23, Amendment No. 2 filed 1/22/24, Amendment No. 3 filed 2/20/24, and Amendment No. 4 filed 4/8/24; with respect to the common shares of BlackRock New York Municipal Income Trust.  This Amendment No. 5 amends Items 4 and 7 as set forth below.


Item 4.

PURPOSE OF TRANSACTION

 

 

 

Item 4 is hereby amended and supplemented as follows:

The Reporting Persons issued the investor presentation (the “Investor Presentation”) attached hereto as Exhibit 3 to shareholders (such exhibit to be deemed incorporated by reference in its entirety into this Item 4) providing their views on the Issuer and its Board, including value-unlocking steps it believes the Issuer should take.


Item 7.

MATERIAL TO BE FILED AS EXHIBITS

 

 

Exhibit 3:

Investor Presentation, incorporated herein by reference to the DFAN14A filed with the Securities and Exchange Commission on May 20, 2024.


CUSIP No.  09248L106 SCHEDULE 13D/A Page 6 of 6 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:  May 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