-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Iy9qbeFYjrHkK5gz/4Kjh+PMEAM5SxxDA2R/7XfrGJmrnDCM3yiizZj+W2CccZQ2 Bdc4GcOuSit3+O8IMGIxng== 0001067621-06-000022.txt : 20060728 0001067621-06-000022.hdr.sgml : 20060728 20060728162522 ACCESSION NUMBER: 0001067621-06-000022 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20060728 DATE AS OF CHANGE: 20060728 GROUP MEMBERS: BULLDOG INVESTORS GROUP MEMBERS: KARPUS INVESTMENT MANAGEMENT SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: SELIGMAN QUALITY MUNICIPAL FUND INC CENTRAL INDEX KEY: 0000862813 IRS NUMBER: 000000000 STATE OF INCORPORATION: MD FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-61515 FILM NUMBER: 06988351 BUSINESS ADDRESS: STREET 1: 100 PARK AVENUE STREET 2: 7TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10017 BUSINESS PHONE: 2124480200 MAIL ADDRESS: STREET 1: 100 PARK AVENUE STREET 2: 7TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10017 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: GOLDSTEIN PHILLIP CENTRAL INDEX KEY: 0001067621 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: BUSINESS PHONE: 9147475262 MAIL ADDRESS: STREET 1: 60 HERITAGE DRIVE CITY: PLEASANTVILLE STATE: NY ZIP: 10570 SC 13D/A 1 thirdsix.txt DATE OF EVENT WHICH REQUIRES FILING OF THIS STATEMENT 7/28/06 1. NAME OF REPORTING PERSON Bulldog Investors-Karpus Group 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 NA 8. SHARED VOTING POWER NA 9. SOLE DISPOSITIVE POWER NA_______________________________________________________ 10. SHARED DISPOSITIVE POWER NA 11. AGGREGATE AMOUNT OWNED BY EACH REPORTING PERSON 1,417,956 12. CHECK IF THE AGGREGATE AMOUNT EXCLUDES CERTAIN SHARES [] ________________________________________________________________ 13. PERCENT OF CLASS REPRESENTED BY ROW 11 30.04% 14. TYPE OF REPORTING PERSON NA ________________________________________________________________ 1. NAME OF REPORTING PERSON Bulldog Investors, Phillip Goldstein, 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 738,100 8. SHARED VOTING POWER NA 9. SOLE DISPOSITIVE POWER 738,100 _______________________________________________________ 10. SHARED DISPOSITIVE POWER NA 11. AGGREGATE AMOUNT OWNED BY EACH REPORTING PERSON 738,100 12. CHECK IF THE AGGREGATE AMOUNT EXCLUDES CERTAIN SHARES [] ________________________________________________________________ 13. PERCENT OF CLASS REPRESENTED BY ROW 11 15.64% 14. TYPE OF REPORTING PERSON NA ________________________________________________________________ 1. NAME OF REPORTING PERSON Karpus Investment Management, Jo Ann Van Degriff, George W. Karpus, Karpus Management Inc., Urbana Partners L.P. 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 679,856 8. SHARED VOTING POWER 0 9. SOLE DISPOSITIVE POWER 679,856 _____________________________________________ 10. SHARED DISPOSITIVE POWER 0 11. AGGREGATE AMOUNT OWNED BY EACH REPORTING PERSON 679,856 12. CHECK IF THE AGGREGATE AMOUNT EXCLUDES CERTAIN SHARES [] ________________________________________________________________ 13. PERCENT OF CLASS REPRESENTED BY ROW 11 14.40% 14. TYPE OF REPORTING PERSON IA ________________________________________________________________ This statement constitutes amendment No.6 to the Schedule 13D filed on September 23, 2005. Except as specifically set forth herein, the Schedule 13D remains unmodified. Item 4 is amended as follows: Item 4. PURPOSE OF TRANSACTION The Bulldog ? Karpus Group has made several proposals to management of SQF with the goal of avoiding a proxy contest. However, management has been intransigent. As a result, the Bulldog ? Karpus Group intends to gain control of SQF and intends to terminate the investment management agreement between SQF and J. & W. Seligman & Co. Incorporated. Item 5 is amended as follows: ITEM 5. INTEREST IN SECURITIES OF THE ISSUER As per the semi annual report dated April 30, 2006 and filed on July 6, 2006 there were 4,720,442 shares of SQF outstanding. The percentage set forth in item 5 was derived using such number. 5a-b Bulldog Investors -Karpus Group are deemed to be the beneficial owners of 1,417,956 shares of SQF or 30.04% of the outstanding shares. Bulldog Investors, Phillip Goldstein and Andrew Dakos are deemed to be the beneficial owner of 738,100 shares of SQF or 15.64% of the outstanding shares. Power to dispose and vote securities resides with Mr. Goldstein or Mr. Dakos. KIM beneficially owns 679,856 shares of SQF or 14.40% of the outstanding shares. GEORGE KARPUS PRESENTLY OWNS 32,200 SHARES. KARPUS MANAGEMENT INC. CURRENTLY OWNS 1900 SHARES. JO ANN VAN DEGRIFF PRESENTLY OWNS 2,870 SHARES. Additionally Urbana Partners L.P. beneficially owns 15,400 shares of SQF. Urbana Partners, L.P. is a hedge fund managed by Karpus Investment Management, of which George W. Karpus owns 6.01%. NONE OF THE OTHER PRINCIPALS OF KIM PRESENTLY OWN SHARES OF SQF. KIM HAS THE SOLE POWER TO DISPOSE OF AND TO VOTE ALL OF SUCH SHARES UNDER LIMITED POWERS OF ATTORNEY. c) During the past 60 days the following shares of SQF were Traded: KARPUS 6/13/2006 2500 12.61 6/15/2006 3000 12.61 6/20/2006 300 12.57 6/21/2006 1000 12.60 6/22/2006 12200 12.43 6/29/2006 -2750 12.50 7/3/2006 3000 12.40 7/6/2006 -200 12.70 7/7/2006 1000 12.50 7/12/2006 200 12.50 7/21/2006 -500 12.70 7/26/2006 -4300 12.70 BULLDOG 4/12/2006 300 $ 12.82 4/13/2006 1,000 $ 12.82 4/13/2006 5000 $ 12.82 4/13/2006 1000 $ 12.76 4/13/2006 1000 $ 12.76 4/13/2006 200 $ 12.76 4/17/2006 700 $ 12.70 4/18/2006 900 $ 12.70 4/21/2006 300 $ 12.70 4/24/2006 700 $ 12.73 5/16/2006 400 $ 12.76 5/18/2006 1500 $ 12.78 5/19/2006 2400 $ 12.77 5/22/2006 1200 $ 12.77 5/26/2006 100 $ 12.79 5/26/2006 2500 $ 12.83 5/30/2006 600 $ 12.75 5/31/2006 100 $ 12.70 6/1/2006 1,500 $ 12.75 6/1/2006 2,300 $ 12.75 6/1/2006 3000 $ 12.75 6/7/2006 3800 $ 12.71 6/7/2006 1200 $ 12.71 6/7/2006 2000 $ 12.71 6/7/2006 5,000 $ 12.71 6/7/2006 10000 $ 12.72 6/8/2006 2300 $ 12.65 6/12/2006 400 $ 12.65 6/13/2006 800 $ 12.60 6/14/2006 900 $ 12.65 6/14/2006 4500 $ 12.68 6/15/2006 3300 $ 12.61 6/16/2006 2800 $ 12.62 6/20/2006 100 $ 12.60 6/22/2006 5000 $ 12.55 6/22/2006 1000 $ 12.55 6/22/2006 1000 $ 12.45 6/22/2006 1000 $ 12.45 6/22/2006 1900 $ 12.45 6/23/2006 300 $ 12.55 6/26/2006 1150 $ 12.46 6/26/2006 1150 $ 12.46 6/26/2006 1150 $ 12.46 6/26/2006 1150 $ 12.46 7/10/2006 4000 $ 12.55 7/11/2006 2500 $ 12.50 7/11/2006 2500 $ 12.50 7/13/2006 2300 $ 12.58 7/13/2006 900 $ 12.55 7/19/2006 500 $ 12.63 7/24/2006 300 $ 12.68 7/26/2006 3400 $ 12.70 7/26/2006 1300 $ 12.70 7/26/2006 800 $ 12.70 7/26/2006 1000 $ 12.70 7/26/2006 1100 $ 12.70 7/26/2006 7100 $ 12.70 7/27/2006 800 $ 12.70 d) Beneficiaries of managed accounts are entitled to receive any dividends or sales proceeds. e) NA Item 7 is amended a follows: ITEM 7. MATERIAL TO BE FILED AS EXHIBITS None. 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: 7/28/06 By: /s/ Phillip Goldstein Name: Phillip Goldstein By: /s/ Andrew Dakos Name: Andrew Dakos By: /s/ Dana R. Consler Name: Dana R. Consler Senior Vice President Karpus Management Inc. -----END PRIVACY-ENHANCED MESSAGE-----