Insider filing report for Changes in Beneficial Ownership
- Schedule 13G & 13D forms are used to report a party's ownership of stock which exceeds 5% of a company's total stock issue.
- Schedule 13G is a shorter version of Schedule 13D with fewer reporting requirements.
"Insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise"
- Peter Lynch
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- Peter Lynch
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SCHEDULE 13D/A
DATE OF EVENT WHICH REQUIRES FILING OF THIS STATEMENT
3/22/21
1. NAME OF REPORTING PERSON
Bulldog Investors, LLP
2. CHECK THE BOX IF MEMBER OF A GROUP a[ ]
b[]
3. SEC USE ONLY
4. SOURCE OF FUNDS
WC
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) AND 2(e) []
6. CITIZENSHIP OR PLACE OF ORGANIZATION
DE
___________________________________________________________
7. SOLE VOTING POWER
74,594
8. SHARED VOTING POWER
419,462
9. SOLE DISPOSITIVE POWER
74,594
_______________________________________________________
10. SHARED DISPOSITIVE POWER
419,462
11. AGGREGATE AMOUNT OWNED BY EACH REPORTING PERSON
494,056 (Footnote 1)
12. CHECK IF THE AGGREGATE AMOUNT EXCLUDES CERTAIN SHARES
[]
___________________________________________________________
13. PERCENT OF CLASS REPRESENTED BY ROW 11
10.04%
14. TYPE OF REPORTING PERSON
IA
___________________________________________________________
1. NAME OF REPORTING PERSON
Phillip Goldstein
2. CHECK THE BOX IF MEMBER OF A GROUP a[]
b[]
3. SEC USE ONLY
4. SOURCE OF FUNDS
WC
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) AND 2(e) []
6. CITIZENSHIP OR PLACE OF ORGANIZATION
USA
___________________________________________________________
7. SOLE VOTING POWER
74,594
8. SHARED VOTING POWER
419,462
9. SOLE DISPOSITIVE POWER
74,594
_______________________________________________________
10. SHARED DISPOSITIVE POWER
419,462
11. AGGREGATE AMOUNT OWNED BY EACH REPORTING PERSON
494,056 (Footnote 1)
12. CHECK IF THE AGGREGATE AMOUNT EXCLUDES CERTAIN SHARES
[]
___________________________________________________________
13. PERCENT OF CLASS REPRESENTED BY ROW 11
10.04%
14. TYPE OF REPORTING PERSON
IN
___________________________________________________________
1. NAME OF REPORTING PERSON
Andrew Dakos
2. CHECK THE BOX IF MEMBER OF A GROUP a[]
b[]
3. SEC USE ONLY
4. SOURCE OF FUNDS
WC
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) AND 2(e) []
6. CITIZENSHIP OR PLACE OF ORGANIZATION
USA
___________________________________________________________
7. SOLE VOTING POWER
74,594
8. SHARED VOTING POWER
419,462
9. SOLE DISPOSITIVE POWER
74,594
_______________________________________________________
10. SHARED DISPOSITIVE POWER
419,462
11. AGGREGATE AMOUNT OWNED BY EACH REPORTING PERSON
494,056 (Footnote 1)
12. CHECK IF THE AGGREGATE AMOUNT EXCLUDES CERTAIN SHARES
[]
___________________________________________________________
13. PERCENT OF CLASS REPRESENTED BY ROW 11
10.04%
14. TYPE OF REPORTING PERSON
IN
___________________________________________________________
Item 1. SECURITY AND ISSUER
This statement constitutes Amendment #1 to the schedule 13d
filed January 7, 2021. Except as specifically set forth
herein, the Schedule 13d remains unmodified.
ITEM 4. PURPOSE OF TRANSACTION
On March 22, 2021, Mr. Goldstein withdrew his shareholder proposal.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(a) As per the N-CSR filed on December 30, 2020, there were 4,918,806 shares
of common stock outstanding as of October 31, 2020. The percentages set forth
herein were derived using such number. Phillip Goldstein and Andrew Dakos
own Bulldog Investors, LLP, a registered investment advisor.
As of March 22, 2021 Bulldog Investors, LLP is deemed to be the beneficial
owner of 494,056 shares of IRL (representing 10.04% of IRL's outstanding
shares) solely by virtue of Bulldog Investors LLP's power to direct the vote
of,and dispose of, these shares. These 494,056 shares of IRL include 74,594
shares (representing 1.51% of IRL's outstanding shares) that are beneficially
owned by Mr. Goldstein.
All other shares included in the aforementioned 494,056 shares of IRL
beneficially owned by Bulldog Investors LLP (solely by virtue of its power
to sell or direct the vote of these shares) are also beneficially owned by
clients of Bulldog Investors, LLP who are not members of any group. The total
number of these "non-group" shares is 419,462 shares (representing 8.53% of
IRL's outstanding shares).
(b)Bulldog Investors,LLP has sole power to dispose of and vote 74,594 shares.
Bulldog Investors, LLP has shared power to dispose of and vote 419,462
shares. Certain of Bulldog Investors, LLP's clients (none of whom
beneficially own more than 5% of IRL's shares) share this power with
Bulldog Investors, LLP. Messrs.Goldstein and Dakos are partners of Bulldog
Investors, LLP.
c) During the past 60 days the followingshares of IRL were bought.
2/12/2021 1,923 10.5484
2/10/2021 100 10.6500
2/10/2021 1,500 10.6426
d) Clients of Bulldog Investors, LLP are entitled to receive any dividends
or sales proceeds.
e) N/A
ITEM 6. CONTRACTS,ARRANGEMENTS,UNDERSTANDINGS OR RELATIONSHIPS
WITH RESPECT TO SECURITIES OF THE ISSUER.
N/A
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
Exhibit A & B
After reasonable inquiry and to the best of my knowledge
and belief, I certify that the information set forth in this
statement is true, complete and correct.
Dated: 3/23/21
By: /S/ Phillip Goldstein
Name: Phillip Goldstein
By: /S/ Andrew Dakos
Name: Andrew Dakos
Bulldog Investors, LLP
By: /s/ Andrew Dakos
Andrew Dakos, Partner
Footnote 1: The reporting persons disclaim beneficial ownership except
to the extent of any pecuniary interest therein.