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    Amendment: SEC Form SC 13D/A filed by Blackrock MuniYield Pennsylvania Quality Fund

    10/11/24 3:23:01 PM ET
    $MPA
    Finance Companies
    Finance
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    SC 13D/A 1 formsc13da.htm FORM SC 13D/A Saba Capital Management, L.P.: Form SC 13D/A - Filed by newsfilecorp.com

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

    SCHEDULE 13D/A

     

    Under the Securities Exchange Act of 1934

    (Amendment No. 11)*

     

    BLACKROCK MUNIYIELD PENNSYLVANIA QUALITY FUND

    (Name of Issuer)

     

    Common Shares, $0.10 par value

    (Title of Class of Securities)

     

    09255G107

    (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)

    October 9, 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.  09255G107 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

    2,218,894

    9

    SOLE DISPOSITIVE POWER

    -0-

    10

    SHARED DISPOSITIVE POWER

    2,218,894

    11

    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON

    2,218,894

    12

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

    ☐

    13

    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

    17.13%

    14

    TYPE OF REPORTING PERSON

    PN; IA

             
    The percentages used herein are calculated based upon 12,949,630 shares of common stock outstanding as of 7/31/24, as disclosed in the company's N-CSR filed 10/3/24


    CUSIP No.  09255G107 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

    2,218,894

    9

    SOLE DISPOSITIVE POWER

    -0-

    10

    SHARED DISPOSITIVE POWER

    2,218,894

    11

    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON

    2,218,894

    12

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

    ☐

    13

    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

    17.13%

    14

    TYPE OF REPORTING PERSON

    IN

           
    The percentages used herein are calculated based upon 12,949,630 shares of common stock outstanding as of 7/31/24, as disclosed in the company's N-CSR filed 10/3/24


    CUSIP No.  09255G107 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

    2,218,894

    9

    SOLE DISPOSITIVE POWER

    -0-

    10

    SHARED DISPOSITIVE POWER

    2,218,894

    11

    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON

    2,218,894

    12

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

    ☐

    13

    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

    17.13%

    14

    TYPE OF REPORTING PERSON

    OO

           
    The percentages used herein are calculated based upon 12,949,630 shares of common stock outstanding as of 7/31/24, as disclosed in the company's N-CSR filed 10/3/24


    CUSIP No.  09255G107 SCHEDULE 13D/A Page 5 of 6 Pages

    Item 1.

    SECURITY AND ISSUER

     

     

     

    This Amendment No. 11 amends and supplements the statement on Schedule 13D filed with the SEC on 1/30/23, as Amended by Amendment No. 1 filed 5/15/23, Amendment No 2 filed 5/24/23, Amendment No. 3 filed 6/8/23, Amendment No. 4 filed 8/30/23, Amendment No. 5 filed 9/28/23, Amendment No. 6 filed 10/25/23, Amendment No. 7 filed 12/18/23, Amendment No. 8 filed 2/20/24, Amendment No. 9 filed 4/15/24, and Amendment No. 10 filed 5/21/24; with respect to the common shares of BLACKROCK MUNIYIELD PENNSYLVANIA QUALITY FUND. This Amendment No. 11 amends Items 4 and 7 as set forth below.


    Item 4.

    PURPOSE OF TRANSACTION

     

     

     

    Item 4 is hereby amended and supplemented as follows:

    On October 9, 2024, Saba Capital, on behalf of Saba Capital Master Fund, Ltd., sent a letter to the Issuer containing a shareholder proposal under Rule 14a-8, for presentation to the Issuer's shareholders at the Issuer's 2025 annual meeting of shareholders, to terminate the management agreement, and any other advisory agreements, between the Issuer and BlackRock Advisors, LLC (such letter, the "Management Agreement Termination Proposal Letter").

    The foregoing summary of the Management Agreement Termination Proposal Letter does not purport to be complete and is qualified in its entirety by reference to the full text of the Management Agreement Termination Proposal Letter, a copy of which is attached as Exhibit 4 and is incorporated by reference herein. 

       
    Item 7. MATERIAL TO BE FILED AS EXHIBITS

    Exhibit 4:

    Management Agreement Termination Proposal Letter.



    CUSIP No.  09255G107 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:  October 11, 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 

     




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