<SEC-DOCUMENT>0001062993-16-011452.txt : 20160914
<SEC-HEADER>0001062993-16-011452.hdr.sgml : 20160914
<ACCEPTANCE-DATETIME>20160914144225
ACCESSION NUMBER:		0001062993-16-011452
CONFORMED SUBMISSION TYPE:	SC 13D
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20160914
DATE AS OF CHANGE:		20160914
GROUP MEMBERS:		BOAZ R. WEINSTEIN

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BLACKROCK DEBT STRATEGIES FUND, INC.
		CENTRAL INDEX KEY:			0001051003
		IRS NUMBER:				223564108
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13D
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-85201
		FILM NUMBER:		161884911

	BUSINESS ADDRESS:	
		STREET 1:		100 BELLEVUE PARKWAY
		CITY:			WILMINGTON
		STATE:			DE
		ZIP:			19809
		BUSINESS PHONE:		800-441-7762

	MAIL ADDRESS:	
		STREET 1:		100 BELLEVUE PARKWAY
		CITY:			WILMINGTON
		STATE:			DE
		ZIP:			19809

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BLACKROCK DEBT STRATEGIES FUND
		DATE OF NAME CHANGE:	20070611

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DEBT STRATEGIES FUND
		DATE OF NAME CHANGE:	20030428

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DEBT STRATEGIES FUND II INC
		DATE OF NAME CHANGE:	19971208

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Saba Capital Management, L.P.
		CENTRAL INDEX KEY:			0001510281
		IRS NUMBER:				800361690
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13D

	BUSINESS ADDRESS:	
		STREET 1:		405 LEXINGTON AVENUE
		STREET 2:		58TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10174
		BUSINESS PHONE:		212-542-4635

	MAIL ADDRESS:	
		STREET 1:		405 LEXINGTON AVENUE
		STREET 2:		58TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10174
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13D
<SEQUENCE>1
<FILENAME>schedule13d.htm
<DESCRIPTION>FORM SC 13D
<TEXT>
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   <TITLE>Saba Capital Management, L.P.: Schedule 13D - Filed by newsfilecorp.com</TITLE>
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<P align=center><B><FONT size=5>UNITED STATES </FONT><BR></B><B><FONT
size=5>SECURITIES AND EXCHANGE COMMISSION </FONT><BR>Washington, D.C. 20549
</B></P>
<P align=center><B><FONT size=5>SCHEDULE 13D </FONT></B></P>
<P align=center>Under the Securities Exchange Act of 1934 (Amendment No. ) </P>
<P align=center><B><U><FONT size=5>BlackRock Debt Strategies Fund, Inc.
</FONT></U><BR></B>(Name of Issuer) </P>
<P align=center><B><U>Common Stock, par value $0.10 per share </U><BR></B>(Title
of Class of Securities) </P>
<P align=center><B><U>09255R103 </U><BR></B>(CUSIP Number) </P>
<P align=center><B>Saba Capital Management, L. P. <BR>405 Lexington Ave
<BR>58</B><B><SUP>th</SUP></B><B> Floor <BR>New York, NY, 10174 <BR>Attention:
Mike D&#146;Angelo <BR><U>212-542-4635 <BR></U></B>(Name, Address and Telephone
Number of Person Authorized to Receive Notices and Communications) </P>
<P align=center><B><U>September 14, 2016 </U><BR></B>(Date of Event which
Requires Filing of this Statement) </P>
<P align=justify>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] </P>
<P align=justify>*The remainder of this cover page shall be filled out for a
reporting person&#146;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. </P>
<P align=justify>The information required on the remainder of this cover page
shall not be deemed to be &#147;filed&#148; for the purpose of Section 18 of the
Securities Exchange Act of 1934 (&#147;Act&#148;) 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).</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
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<P align=center><B>SCHEDULE 13D </B></P>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
borderColor=#000000 cellSpacing=0 cellPadding=3 width="30%" border=1>

  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><B>CUSIP
      No.</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      <B>09255R103</B> </TD></TR></TABLE></DIV><BR>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
borderColor=#000000 cellSpacing=0 cellPadding=3 width="100%" border=1>

  <TR vAlign=top>
    <TD width="5%" align=left ><B>1</B> <BR></TD>
    <TD align=left colSpan=3>NAME OF REPORTING PERSON <BR>
      &nbsp;
      <BR>Saba Capital Management, L.P. </TD></TR>
  <TR vAlign=top>
    <TD align=left ><B>2</B> <BR><BR></TD>
    <TD align=left colSpan=3>CHECK THE APPROPRIATE BOX IF A MEMBER
      OF A GROUP <BR>
      <BR>&nbsp;&nbsp;&nbsp;&nbsp; (a) [&nbsp;&nbsp; ]
      <BR>
      &nbsp;&nbsp;&nbsp;&nbsp; (b) [&nbsp;&nbsp; ] </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left ><B>3</B> <BR></TD>
    <TD align=left colSpan=3>SEC USE ONLY <br>
      <BR>
    &nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left ><B>4</B> <BR></TD>
    <TD align=left colSpan=3>SOURCE OF FUNDS (See Instructions)
      <BR>
    &nbsp; <BR>OO (see item 3) </TD></TR>
  <TR vAlign=top>
    <TD align=left ><B>5</B> <BR></TD>
    <TD align=left colSpan=3>CHECK IF DISCLOSURE OF LEGAL
      PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) <BR>
      &nbsp; <BR>[&nbsp;&nbsp; ]    </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left ><B>6</B> <BR></TD>
    <TD align=left colSpan=3>CITIZENSHIP OR PLACE OF ORGANIZATION
      <BR>
    &nbsp; <BR>Delaware </TD></TR>
  <TR vAlign=top>
    <TD vAlign=center align=center colSpan=2 rowSpan=4 >NUMBER OF
      <BR>SHARES <BR>BENEFICIALLY <BR>OWNED BY <BR>EACH <BR>REPORTING
      <BR>PERSON <BR>WITH </TD>
    <TD align=left width="5%" ><B>7</B> <BR></TD>
    <TD align=left width="80%">SOLE VOTING POWER <BR>
    &nbsp; <BR>-0- </TD></TR>
  <TR vAlign=top>
    <TD align=left width="5%" ><B>8</B> <BR></TD>
    <TD align=left width="80%">SHARED VOTING POWER <BR>
      &nbsp; <BR>25,455,021
    </TD></TR>
  <TR vAlign=top>
    <TD align=left width="5%" ><B>9</B> <BR></TD>
    <TD align=left width="80%">SOLE DISPOSITIVE POWER<BR>
      &nbsp; &nbsp;<BR>-0-
    </TD></TR>
  <TR vAlign=top>
    <TD align=left width="5%" ><B>10</B> <BR></TD>
    <TD align=left width="80%">SHARED DISPOSITIVE POWER <BR>
      &nbsp;
      <BR>25,455,021 </TD></TR>
  <TR vAlign=top>
    <TD align=left ><B>11</B> <BR></TD>
    <TD align=left colSpan=3>AGGREGATE AMOUNT BENEFICIALLY OWNED
      BY EACH REPORTING PERSON <BR>
    &nbsp; <BR>25,455,021 </TD></TR>
  <TR vAlign=top>
    <TD align=left ><B>12</B> <BR></TD>
    <TD align=left colSpan=3>CHECK BOX IF THE AGGREGATE AMOUNT IN
      ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) <BR>
      &nbsp; <BR>[&nbsp;&nbsp; ]  </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left ><B>13</B> <BR></TD>
    <TD align=left colSpan=3>PERCENT OF CLASS REPRESENTED BY
      AMOUNT IN ROW (11) <BR>
    &nbsp; <BR>13.62%* </TD></TR>
  <TR vAlign=top>
    <TD align=left ><B>14</B> <BR></TD>
    <TD align=left colSpan=3>TYPE OF REPORTING PERSON (See
      Instructions) <BR>
    &nbsp; <BR>PN; IA </TD></TR></TABLE></DIV>
<P align=justify><B><SUP>*</SUP></B><B> </B><B>The percentages used in this
Schedule 13D are calculated based upon 186,913,216 Shares outstanding as of
February 29, 2016 as reported in the Issuer's Semi-Annual Report to Shareholders
on Form N-CSR filed on May 3, 2016.</B></P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
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<P align=right>Page 2 </P>
<P align=center><B>SCHEDULE 13D </B></P>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
borderColor=#000000 cellSpacing=0 cellPadding=3 width="30%" border=1>

  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><B>CUSIP
      No.</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      <B>09255R103</B> </TD></TR></TABLE></DIV><BR>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
borderColor=#000000 cellSpacing=0 cellPadding=3 width="100%" border=1>

  <TR vAlign=top>
    <TD width="5%" align=left ><B>1</B> <BR></TD>
    <TD align=left colSpan=3>NAME OF REPORTING PERSON <BR>
      &nbsp;
      <BR>Boaz R. Weinstein </TD></TR>
  <TR vAlign=top>
    <TD align=left ><B>2</B> <BR><BR></TD>
    <TD align=left colSpan=3>CHECK THE APPROPRIATE BOX IF A MEMBER
      OF A GROUP* <BR>
      <BR>&nbsp;&nbsp;&nbsp;&nbsp; (a) [ &nbsp;&nbsp;]
      <BR>
      &nbsp;&nbsp;&nbsp;&nbsp; (b) [&nbsp;&nbsp; ] </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left ><B>3</B> <BR></TD>
    <TD align=left colSpan=3>SEC USE ONLY <BR>
    &nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left ><B>4</B> <BR></TD>
    <TD align=left colSpan=3>SOURCE OF FUNDS (See Instructions)
      <BR>
    &nbsp; <BR>OO (see item 3) </TD></TR>
  <TR vAlign=top>
    <TD align=left ><B>5</B> <BR></TD>
    <TD align=left colSpan=3>CHECK IF DISCLOSURE OF LEGAL
      PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) <BR>
      &nbsp; <BR>[ &nbsp;&nbsp;]    </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left ><B>6</B> <BR></TD>
    <TD align=left colSpan=3>CITIZENSHIP OR PLACE OF ORGANIZATION
      <BR>
    &nbsp; <BR>United States </TD></TR>
  <TR vAlign=top>
    <TD vAlign=center align=center colSpan=2 rowSpan=4 >NUMBER OF
      <BR>SHARES <BR>BENEFICIALLY <BR>OWNED BY <BR>EACH <BR>REPORTING
      <BR>PERSON <BR>WITH </TD>
    <TD align=left width="5%" ><B>7</B> <BR></TD>
    <TD align=left width="80%">SOLE VOTING POWER <BR>
    &nbsp; <BR>-0- </TD></TR>
  <TR vAlign=top>
    <TD align=left width="5%" ><B>8</B> <BR></TD>
    <TD align=left width="80%">SHARED VOTING POWER <BR>
      &nbsp; <BR>25,455,021
    </TD></TR>
  <TR vAlign=top>
    <TD align=left width="5%" ><B>9</B> <BR></TD>
    <TD align=left width="80%">SOLE DISPOSITIVE POWER <BR>
      &nbsp; <BR>-0-
</TD></TR>
  <TR vAlign=top>
    <TD align=left width="5%" ><B>10</B> <BR></TD>
    <TD align=left width="80%">SHARED DISPOSITIVE POWER <BR>
      &nbsp;
    <BR>25,455,021 </TD></TR>
  <TR vAlign=top>
    <TD align=left ><B>11</B> <BR></TD>
    <TD align=left colSpan=3>AGGREGATE AMOUNT BENEFICIALLY OWNED
      BY EACH REPORTING PERSON <BR>
    &nbsp; <BR>25,455,021 </TD></TR>
  <TR vAlign=top>
    <TD align=left ><B>12</B> <BR></TD>
    <TD align=left colSpan=3>CHECK BOX IF THE AGGREGATE AMOUNT IN
      ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) <BR>
      &nbsp; <BR>[&nbsp;&nbsp; ]  </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left ><B>13</B> <BR></TD>
    <TD align=left colSpan=3>PERCENT OF CLASS REPRESENTED BY
      AMOUNT IN ROW (11) <BR>
    &nbsp; <BR>13.62%* </TD></TR>
  <TR vAlign=top>
    <TD align=left ><B>14</B> <BR></TD>
    <TD align=left colSpan=3>TYPE OF REPORTING PERSON (See
      Instructions) <BR>
    &nbsp; <BR>IN </TD></TR></TABLE></DIV>
<P align=justify><B>* The percentages used in this Schedule 13D are calculated
based upon 186,913,216 Shares outstanding as of February 29, 2016 as reported in
the Issuer's Semi-Annual Report to Shareholders on Form N-CSR filed on May 3,
2016. </B></P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
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<P align=right>Page 3 </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left><B>CUSIP No. 09255R103</B> </TD>
    <TD align=center width="33%"><B>SCHEDULE 13D</B> </TD>
    <TD align=left width="33%">&nbsp;</TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left nowrap ><b>Item 1. </b></TD>
  <TD align=left width="95%"><b>SECURITY AND ISSUER </b></TD>
  </TR></TABLE>
<P style="MARGIN-LEFT: 5%" align=justify>This statement on Schedule 13D (the
"<U>Schedule 13D</U>") relates to the common shares, $0.10 par value per share
(the "<U>Common Shares</U>"), of BlackRock Debt Strategies Fund, Inc. (the
"<U>Issuer</U>"). The Issuer's principal executive offices are located at 100
Bellevue Parkway, Wilmington, DE 19809.</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left nowrap ><b>Item 2. </b></TD>
    <TD align=left width="95%"><b>IDENTITY AND BACKGROUND
    </b></TD>
  </TR></TABLE>
<BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%">(a) </TD>
    <TD colSpan=2>
      <P align=justify>This Schedule 13D is filed by:</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%"></TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>Saba Capital Management, L.P., a Delaware limited
      partnership ("<U>Saba Capital</U>"); and</P></TD></TR>
  <TR>
    <TD width="5%"></TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>Mr. Boaz R. Weinstein ("<U>Mr. Weinstein</U>").</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD>
  <TR>
    <TD width="5%"></TD>
    <TD colSpan=2>
      <P align=justify>This statement is being jointly filed by Saba Capital and
      Mr. Weinstein (together, the "<U>Reporting Persons</U>") with respect to
      the ownership of the Common Shares by (the following, the "<U>Saba
      Entities</U>"): Saba Capital Master Fund Ltd. ("SCMF"), Saba Capital
      Master Fund II AIV, L.P. ("<U>SCMF II</U>"), Saba Capital Leveraged Master
      Fund Ltd. ("<U>SCLMF</U>"), Saba Capital Series LLC Series 1
      ("<U>SCS</U>"), Saba Capital CEF Opportunities 1, Ltd. ("<U>SCEF 1</U>")
      and Saba Capital CEF Opportunities 2, Ltd. ("<U>SCEF 2</U>").<SUP>2
      </SUP>Any disclosures herein with respect to persons other than the
      Reporting Persons are made on information and belief after making inquiry
      to the appropriate party.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%"></TD>
    <TD colSpan=2>
      <P align=justify>Information required by Instruction C of Schedule 13D
      with respect to Management is set forth herein.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%"></TD>
    <TD colSpan=2>
      <P align=justify>The filing of this statement should not be construed as
      an admission that any Reporting Person, Management or any Saba Entity is,
      for the purposes of Sections 13 of the Securities Exchange Act of 1934,
      the beneficial owner of the Common Shares reported herein.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">(b) </TD>
    <TD colSpan=2>
      <P align=justify>The address of the business office of each Reporting
      Persons and Management is 405 Lexington Avenue, 58<SUP>th </SUP>floor, New
      York, New York 10174</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">(c) </TD>
    <TD colSpan=2>
      <P align=justify>The principal business of: (i) Saba Capital is to serve
      as investment manager to the Saba Entities, (ii) Mr. Weinstein, an
      individual, is investment management and serving as the Managing Member of
      Management and other affiliated entities and (iii) Management is to serve
      as general partner of Saba Capital.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD>
  <TR>
    <TD vAlign=top width="5%">(d) </TD>
    <TD colSpan=2>
      <P align=justify>None of the Reporting Persons or Management has, during
      the last five years, been convicted in a criminal proceeding (excluding
      traffic violations or similar misdemeanors).</P></TD></TR></TABLE>
<P align=justify><SUP>2</SUP> Saba Capital is the investment manager of the Saba
Entities and by virtue of such status may be deemed to be the beneficial owner
of the securities held by the Saba Entities. Saba Capital Management GP, LLC
("Management") is the general partner of Saba Capital. Management does not
directly hold any Common Shares. Boaz R. Weinstein is the Managing Member of
Management and as a result may be deemed to have voting and investment power
with respect to the securities held by the Saba Entities. </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left
      width="33%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD align=right width="33%"
      >&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Page 4 </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>CUSIP No. 09255R103</B> </TD>
    <TD align=center width="33%"><B>SCHEDULE 13D</B> </TD>
    <TD align=left width="33%" >&nbsp;</TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%">(e) </TD>
    <TD>
      <P align=justify>None of the Reporting Persons or Management has, during
      the last five years, been a party to a civil proceeding of a judicial or
      administrative body of competent jurisdiction and, as a result of such
      proceeding, was, or is subject to, a judgment, decree or final order
      enjoining future violations of, or prohibiting or mandating activities
      subject to, Federal or State securities laws or finding any violation with
      respect to such laws.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">(f) </TD>
    <TD>
      <P align=justify>Saba Capital is organized as a limited partnership under
      the laws of the State of Delaware. Mr. Weinstein is a citizen of the
      United States. Management is a limited liability company organized under
      the laws of Delaware.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%"></TD>
    <TD>
      <P align=justify>The Reporting Persons have executed a Joint Filing
      Agreement, dated January 21, 2014, with respect to the joint filing of
      this Schedule 13D, and any amendment or amendments hereto, a copy of which
      is attached hereto as <U>Exhibit 1</U>.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left nowrap ><B>Item 3.</B> </TD>
    <TD align=left width="95%"><B>Source and amount of funds or other
      consideration</B> </TD></TR></TABLE>
<P style="MARGIN-LEFT: 5%" align=justify>Funds for the purchase of the Common
Shares were derived from the subscription proceeds from investors in SCMF, SCMF
II, SCLMF, SCS, SCEF 1 and SCEF 2 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 $96,310,491 was paid to acquire the
Common Shares reported herein. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left nowrap ><B>Item 4.</B> </TD>
    <TD align=left width="95%"><B>Purpose of Transaction</B>
</TD></TR></TABLE>
<P style="MARGIN-LEFT: 5%" align=justify>The Reporting Persons acquired the
Common Shares to which this Schedule 13D relates in the ordinary course of
business for investment purposes because they believe that the Common Shares are
undervalued and represent an attractive investment opportunity. </P>
<P style="MARGIN-LEFT: 5%" align=justify>The Reporting Persons may engage in
discussions with management, the Board of Directors, other shareholders of the
Issuer and other relevant parties, including representatives of any of the
foregoing, concerning the Reporting Persons' investment in the Common Shares and
the Issuer, including, without limitation, matters concerning the Issuer's
business, operations, board appointments, governance, management, capitalization
and strategic plans and matters relating to the open or closed end nature of the
Issuer and timing of any potential liquidation of the Issuer. </P>
<P style="MARGIN-LEFT: 5%" align=justify>The Reporting Persons may exchange
information with any persons pursuant to appropriate confidentiality or similar
agreements or otherwise, work together with any persons pursuant to joint
agreements or otherwise, propose changes in the Issuer's business, operations,
board appointments, governance, management, capitalization, strategic plans or
matters relating to the open or closed end nature of the Issuer or timing of any
potential liquidation of the Issuer, or propose or engage in one or more other
actions set forth under subparagraphs (a)-(j) of Item 4 of Schedule 13D. </P>
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  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left
      width="33%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD align=right width="33%" >&nbsp;Page 5 </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>CUSIP No. 09255R103</B> </TD>
    <TD align=center width="33%"><B>SCHEDULE 13D</B> </TD>
    <TD align=left width="33%" >&nbsp;</TD></TR></TABLE>
<P style="MARGIN-LEFT: 5%" align=justify>The Reporting Persons intend to review
their investment in the Issuer on a continuing basis. Depending on various
factors, including, without limitation, the outcome of any discussions
referenced above, the Issuer's financial position and strategic direction,
actions taken by management or the Board of Directors, price levels of the
Common Shares, other investment opportunities available to the Reporting
Persons, conditions in the securities market and general economic and industry
conditions, the Reporting Persons may in the future take such actions with
respect to their investment in the Issuer as they deem appropriate, including,
without limitation, purchasing additional Common Shares or selling some or all
of their Common Shares, engaging in short selling of or any hedging or similar
transactions with respect to the Common Shares and/or otherwise changing their
intention with respect to any and all matters referred to in Item 4 of Schedule
13D. The Reporting Persons may, at any time and from time to time, review or
reconsider their position and/or change their purpose and/or formulate plans or
proposals with respect to their investment in the Common Shares. </P>
<P style="MARGIN-LEFT: 5%" align=justify>The Reporting Persons have not entered
into any agreement with any third party to act together for the purpose of
acquiring, holding, voting or disposing of the Common Shares reported herein.
</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left nowrap ><B>Item 5.</B> </TD>
    <TD align=left width="95%"><B>Interest in Securities of the Issuer</B>
  </TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>See rows (11) and (13) of the cover pages to this
      Schedule 13D for the aggregate number of Common Shares and percentages of
      the Common Shares beneficially owned by each of the Reporting Persons. The
      percentages used in this Schedule 13D are calculated based upon
      186,913,216 Shares outstanding as of February 29, 2016 as reported in the
      Issuer's Semi-Annual Report to Shareholders on Form N-CSR filed on May 3,
      2016.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>See rows (7) through (10) of the cover pages to this
      Schedule 13D for the number of Common Shares as to which each Reporting
      Person has the sole or shared power to vote or direct the vote and sole or
      shared power to dispose or to direct the disposition.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>The transactions in the Common Shares effected within the
      past sixty days by Saba Capital, which were all in the open market, are
      set forth in <U>Schedule A</U>, and are incorporated herein by
      reference.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">(d) </TD>
    <TD>
      <P align=justify>No person other than the Reporting Persons and the Saba
      Entities is known to have the right to receive, or the power to direct the
      receipt of dividends from, or proceeds from the sale of, such Common
      Shares.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">(e) </TD>
    <TD>
      <P align=justify>Not applicable.</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left nowrap  ><STRONG>Item 6. </STRONG></TD>
    <TD align=left width="95%"><B>Contracts, Arrangements, Understandings or
      Relationships with Respect to the</B> <B>Securities of the Issuer</B>
  </TD></TR></TABLE>
<P style="MARGIN-LEFT: 5%" align=justify>Other than the Joint Filing Agreement
attached as <U>Exhibit 1</U> hereto, there are no contracts, arrangements,
understandings or relationships (legal or otherwise) among the persons named in
Item 2 hereof and between such persons and any person with respect to any
securities of the Issuer, including but not limited to transfer or voting of any
other securities, finder's fees, joint ventures, loan or option arrangements,
puts or calls, guarantees of profits, divisions of profits or loss, or the
giving or withholding of proxies. </P>
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  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left
      width="33%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD align=right width="33%" >&nbsp;Page 6 </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>CUSIP No. 09255R103</B> </TD>
    <TD align=center width="33%"><B>SCHEDULE 13D</B> </TD>
    <TD align=left width="33%" >&nbsp;</TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left nowrap ><B>Item 7.</B> </TD>
    <TD align=left width="95%"><B>Materials to be Filed as Exhibits</B>
  </TD></TR></TABLE>
<P align=justify>Exhibit 1: Joint Filing Agreement Statement as required by Rule
13d-1(k)(1) under the Act. </P>
<P align=center><B>SIGNATURES </B></P>
<P align=justify>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. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>9/14/2016 </TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>Dated </TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="50%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>/s/ Michael
      D'Angelo </TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>Name: Michael D'Angelo </TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>Title: Chief Compliance Officer </TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="50%" >&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="50%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>BOAZ R. WEINSTEIN </TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>/s/ Michael
      D'Angelo </TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>Name: Michael D'Angelo </TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>Title: Attorney-in-fact* </TD>
    <TD align=left width="50%" >&nbsp;</TD></TR></TABLE>
<P align=justify>* Pursuant to a Power of Attorney dated as of November 16, 2015
attached hereto as Exhibit 2. </P>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left
      width="33%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD align=right width="33%" >&nbsp;Page 7 </TD></TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="33%">&nbsp; </TD>
    <TD width="33%" >&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="33%">&nbsp; </TD>
    <TD width="33%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left><B>CUSIP No. 09255R103</B> </TD>
    <TD align=center width="33%"><B>SCHEDULE 13D</B> </TD>
    <TD align=center width="33%" >&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD align=center>&nbsp;</TD>
    <TD align=center width="33%" ><U>Schedule
A</U>&nbsp;&nbsp;</TD>
    <TD align=center width="33%" >&nbsp;</TD></TR></TABLE>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Schedule sets forth
information with respect to each purchase and sale of Common Shares which were
effectuated by Saba Capital during the past sixty days. All transactions were
effectuated in the open market through a broker. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=center><B>Trade</B><B></B><B>Date</B><B></B> </TD>
    <TD align=center
      width="33%"><B>Common</B><B></B><B>Shares</B><B></B><B>Purchased</B><B></B><B>(Sold)</B>
    </TD>
    <TD align=center width="33%"><B>Price</B><B></B><B>($)*</B> </TD></TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>7/25/2016 </TD>
    <TD align=center width="33%" bgColor=#e6efff>100,000 </TD>
    <TD align=center width="33%" bgColor=#e6efff>3.62 </TD></TR>
  <TR vAlign=top>
    <TD align=center>7/13/2016 </TD>
    <TD align=center width="33%">104,577 </TD>
    <TD align=center width="33%">3.61 </TD></TR></TABLE>
<P align=justify>* Excluding commissions. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD align=center><B>EXHIBIT 1</B> </TD></TR>
  <TR>
    <TD>&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=center><B>JOINT FILING AGREEMENT</B> </TD></TR>
  <TR vAlign=top>
    <TD align=center><B>PURSUANT TO RULE 13d-1(k)</B> </TD></TR></TABLE>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned acknowledge and
agree that the foregoing statement on Schedule 13D is filed on behalf of each of
the undersigned and that all subsequent amendments to this statement on Schedule
13D shall be filed on behalf of each of the undersigned without the necessity of
filing additional joint filing agreements. The undersigned acknowledge that each
shall be responsible for the timely filing of such amendments, and for the
completeness and accuracy of the information concerning him or it contained
herein and therein, but shall not be responsible for the completeness and
accuracy of the information concerning the others, except to the extent that he
or it knows or has reason to believe that such information is inaccurate </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>9/14/2016 </TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>Dated </TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="50%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>/s/ Michael
      D'Angelo </TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>Name: Michael D'Angelo </TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>Title: Chief Compliance Officer </TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="50%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>BOAZ R. WEINSTEIN </TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>/s/ Michael
      D'Angelo </TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>Name: Michael D'Angelo </TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>Title: Attorney-in-fact* </TD>
    <TD align=left width="50%" >&nbsp;</TD></TR></TABLE>
<P align=justify>* Pursuant to a Power of Attorney dated as of November 16, 2015
attached hereto as Exhibit 2. </P>
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<P align=right>Page 8 </P>
<P align=center><B>EXHIBIT 2 </B></P>
<P align=center><B>POWER OF ATTORNEY </B></P>
<P align=justify>KNOW ALL MEN BY THESE PRESENTS, that I, BOAZ R. WEINSTEIN,
hereby make, constitute and appoint MICHAEL D'ANGELO, acting individually, as my
agent and attorney-in-fact for the purpose of executing in my name, (a) in my
personal capacity or (b) in my capacity as managing member, member, general
partner of or in other capacities with Saba Capital Management, L.P., Saba
Capital, LLC and each of its affiliates or entities under my direct or indirect
control, all documents relating to the beneficial ownership of securities
required to be filed with the United States Securities and Exchange Commission
(the "<U>SEC</U>") pursuant to Section 13 or Section 16(a) of the Securities
Exchange Act of 1934, as amended (the "<U>Act</U>").</P>
<P align=justify>All past acts of the attorneys-in-fact in furtherance of the
foregoing are hereby ratified and confirmed.</P>
<P align=justify>This power of attorney shall be valid from the date hereof
until revoked by me.</P>
<P align=justify>IN WITNESS WHEREOF, I have executed this instrument as of the
16th day of November, 2015.</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>/s/ Boaz R.
      Weinstein </TD>
    <TD align=left width="50%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>Boaz R. Weinstein </TD>
    <TD align=left width="50%" >&nbsp;</TD></TR></TABLE><BR>
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