Saba Capital Lifts Stake in Morgan Stanley India Fund to 9.04% via $22.2M in Open-Market Purchases
IIF sits 16% above its 52-week low of $19.83.
Summary
Saba Capital Management disclosed a 9.04% stake in the Morgan Stanley India Investment Fund after accumulating $22.2 million worth of shares through open-market purchases since March 2026, signaling potential activist interest.
Key Events · Ownership and Investor Activity · IIF
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Saba Capital Accumulates 9.04% Stake
Saba Capital Management, L.P., together with Boaz Weinstein and Saba Capital Management GP, LLC, reported beneficial ownership of 853,694 shares, representing 9.04% of the fund's outstanding common shares.
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$22.2 Million in Open-Market Purchases
The stake was built through 21 separate open-market transactions between April 7 and July 28, 2026, at prices ranging from $20.72 to $23.12 per share, totaling approximately $22,209,345.
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Activist Investor Profile
Led by Boaz Weinstein, Saba Capital is known for targeting closed-end funds trading at discounts to net asset value, often pushing for corporate actions to narrow discounts and unlock shareholder value.
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Stake Increase from Prior Filing
This Amendment No. 8 updates the previous Schedule 13D/A filed on March 24, 2026, reflecting the accumulation of additional shares over the subsequent four-month period.
Analysis · IIF · Unknown
Over the past four months, activist investor Saba Capital Management—led by Boaz Weinstein—has steadily accumulated shares of the Morgan Stanley India Investment Fund, raising its position to 9.04% of outstanding shares. The $22.2 million buying spree, executed across 21 separate transactions between April and July 2026, signals strong conviction in the fund's India-focused portfolio. Known for pressuring closed-end funds to narrow discounts to net asset value, Saba's latest accumulation could foreshadow a push to unlock shareholder value. With purchase prices ranging from $20.72 to $23.12—near the current stock price of $22.98—the firm appears to see compelling value at these levels.
How filings like this one have moved
In the 30 days to Sep 30, 2026, 29.6% of the 1609 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.57%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, IIF was trading at $22.98 on NYSE in the Unknown sector, with a market capitalization of approximately $216.6M. The 52-week trading range was $19.83 to $27.99. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.