Saba Capital Management, L.P. Sells 58,256 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 58,256 shares of BlackRock California Municipal Income Trust stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $11.34, for a total value of $660,623.04. Following the transaction, the insider now directly owns 4,865,375 shares of the company’s stock, valued at $55,173,352.50. This trade represents a 1.18 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own 10% or more 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, February 3rd, Saba Capital Management, L.P. sold 7,951 shares of BlackRock California Municipal Income Trust stock. The stock was sold at an average price of $11.29, for a total value of $89,766.79.
• On Friday, January 31st, Saba Capital Management, L.P. sold 20,717 shares of BlackRock California Municipal Income Trust stock. The shares were sold at an average price of $11.27, for a total value of $233,480.59.
• 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 value 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 shares were sold at an average price of $11.24, for a total value 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 shares were sold at an average price of $11.32, for a total value 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 shares were sold at an average price of $11.82, for a total value of $358,063.26.

BlackRock California Municipal Income Trust Stock Performance

BlackRock California Municipal Income Trust stock opened at $11.33 on Friday. The business has a 50 day simple moving average of $11.40 and a 200 day simple moving average of $11.73. BlackRock California Municipal Income Trust has a one year low of $11.10 and a one year high of $12.23.

BlackRock California Municipal Income Trust Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be issued a dividend of $0.059 per share. The ex-dividend date is Friday, February 14th. This represents a $0.71 annualized dividend and a yield of 6.25%.

Institutional Trading of BlackRock California Municipal Income Trust

A number of institutional investors have recently modified their holdings of BFZ. Raymond James Financial Inc. acquired a new position in shares of BlackRock California Municipal Income Trust in the fourth quarter valued at approximately $529,000. Wolverine Asset Management LLC grew its position in shares of BlackRock California Municipal Income Trust by 33.3% in the fourth quarter. Wolverine Asset Management LLC now owns 34,070 shares of the company’s stock valued at $382,000 after purchasing an additional 8,505 shares during the last quarter. Golden State Wealth Management LLC acquired a new stake in BlackRock California Municipal Income Trust during the fourth quarter worth approximately $118,000. Trilogy Capital Inc. grew its position in BlackRock California Municipal Income Trust by 1.3% during the fourth quarter. Trilogy Capital Inc. now owns 108,637 shares of the company’s stock worth $1,217,000 after buying an additional 1,376 shares in the last quarter. Finally, Absolute Investment Advisers LLC acquired a new stake in BlackRock California Municipal Income Trust during the fourth quarter worth approximately $387,000.

BlackRock California Municipal Income Trust Company Profile

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.