Saba Capital Management, L.P. Sells 20,717 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 20,717 shares of the business’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $11.27, for a total transaction of $233,480.59. Following the completion of the sale, the insider now owns 4,977,191 shares of the company’s stock, valued at $56,092,942.57. The trade was a 0.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Wednesday, January 29th, Saba Capital Management, L.P. sold 103,231 shares of BlackRock California Municipal Income Trust stock. The stock was sold at an average price of $11.17, for a total transaction of $1,153,090.27.
• On Monday, January 27th, Saba Capital Management, L.P. sold 31,198 shares of BlackRock California Municipal Income Trust stock. The stock was sold at an average price of $11.24, for a total transaction of $350,665.52.
• On Wednesday, January 22nd, Saba Capital Management, L.P. sold 39,580 shares of BlackRock California Municipal Income Trust stock. The stock was sold at an average price of $11.32, for a total transaction of $448,045.60.
• On Friday, November 8th, Saba Capital Management, L.P. sold 30,293 shares of BlackRock California Municipal Income Trust stock. The stock was sold at an average price of $11.82, for a total transaction of $358,063.26.

BlackRock California Municipal Income Trust Stock Up 0.0 %

Shares of BFZ stock opened at $11.31 on Wednesday. BlackRock California Municipal Income Trust has a 1 year low of $11.10 and a 1 year high of $12.23. The firm’s fifty day simple moving average is $11.41 and its 200 day simple moving average is $11.74.

BlackRock California Municipal Income Trust Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be given a dividend of $0.059 per share. This represents a $0.71 dividend on an annualized basis and a yield of 6.26%. The ex-dividend date of this dividend is Friday, February 14th.

Hedge Funds Weigh In On BlackRock California Municipal Income Trust

Institutional investors and hedge funds have recently bought and sold shares of the stock. Golden State Wealth Management LLC bought a new position in BlackRock California Municipal Income Trust during the fourth quarter worth $118,000. Farther Finance Advisors LLC bought a new stake in BlackRock California Municipal Income Trust in the 3rd quarter valued at $170,000. Cypress Wealth Services LLC bought a new stake in BlackRock California Municipal Income Trust in the 3rd quarter valued at $250,000. Wolverine Asset Management LLC bought a new stake in BlackRock California Municipal Income Trust in the 3rd quarter valued at $309,000. Finally, Absolute Investment Advisers LLC bought a new stake in BlackRock California Municipal Income Trust in the 4th quarter valued at $387,000.

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.