BlackRock shareholders vote to keep company directors in place in fight with Saba

  • 📰 YahooFinanceCA
  • ⏱ Reading Time:
  • 20 sec. here
  • 5 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 63%

Blackrock News

Saba Capital Management,Boaz Weinstein,Hedge Fund Manager

BlackRock won a fight with hedge fund manager Boaz Weinstein this week when shareholders voted at four of its closed-end funds to keep the asset manager's...

NEW YORK - BlackRock won a fight with hedge fund manager Boaz Weinstein this week when shareholders voted at four of its closed-end funds to keep the asset manager's directors in place and retain it as the manager, new data released on Friday show.

Meetings at and have been adjourned until next month due to a failure to achieve quorum. Saba Capital Management did not secure enough votes to replace directors or fire the fund manager at any of the eight funds. Closed-end funds, unlike open-end funds, don't issue or redeem new shares, which can leave them trading above or below the value of the securities held by the fund.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 47. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Boaz Weinstein Says Biden Is Better for Bond Market Than TrumpPresident Joe Biden’s re-election would be better for the US bond market than a second Donald Trump presidency, Saba Capital Management’s Boaz Weinstein said during the Bloomberg Invest conference on Tuesday.
Source: BNNBloomberg - 🏆 83. / 50 Read more »