Saba Capital Management, L.P. Sells 30,293 Shares of BlackRock California Municipal Income Trust (NYSE:BFZ) Stock

BlackRock California Municipal Income Trust (NYSE:BFZ) major shareholder Saba Capital Management, L.P. sold 30,293 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $11.82, for a total transaction of $358,063.26. Following the transaction, the insider now owns 5,200,088 shares of the company’s stock, valued at $61,465,040.16. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• On Monday, October 28th, Saba Capital Management, L.P. sold 6,313 shares of BlackRock California Municipal Income Trust stock. The shares were sold at an average price of $11.89, for a total transaction of $75,061.57.

BlackRock California Municipal Income Trust Stock Performance

Shares of BlackRock California Municipal Income Trust stock opened at $11.66 on Thursday. BlackRock California Municipal Income Trust has a 1 year low of $10.70 and a 1 year high of $12.31. The business has a 50 day moving average price of $11.98 and a 200 day moving average price of $11.91.

BlackRock California Municipal Income Trust Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be issued a $0.059 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.71 dividend on an annualized basis and a dividend yield of 6.07%.

Institutional Trading of BlackRock California Municipal Income Trust

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Farther Finance Advisors LLC acquired a new position in BlackRock California Municipal Income Trust in the 3rd quarter valued at about $170,000. B. Riley Wealth Advisors Inc. purchased a new stake in shares of BlackRock California Municipal Income Trust during the first quarter worth about $193,000. Cypress Wealth Services LLC acquired a new position in shares of BlackRock California Municipal Income Trust in the third quarter valued at approximately $250,000. Wolverine Asset Management LLC acquired a new stake in BlackRock California Municipal Income Trust during the third quarter worth approximately $309,000. Finally, Sanctuary Advisors LLC purchased a new stake in BlackRock California Municipal Income Trust in the 2nd quarter worth approximately $509,000.

About BlackRock California Municipal Income Trust

BlackRock California Municipal Income Trust is a closed ended fixed income mutual fund launched by BlackRock, Inc It is managed by BlackRock Advisors, LLC. The fund invests in fixed income markets. It invests primarily in investment grade municipal bonds that are exempt from regular federal and California income taxes.