Insider Selling: BlackRock California Municipal Income Trust (NYSE:BFZ) Major Shareholder Sells $15,848.00 in Stock

Posted by Stephan Jacobs on Feb 13th, 2025

BlackRock California Municipal Income Trust (NYSE:BFZ – Get Free Report) major shareholder Saba Capital Management, L.P. sold 1,400 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $11.32, for a total transaction of $15,848.00. Following the sale, the insider now owns 4,838,515 shares of the company’s stock, valued at approximately $54,771,989.80. This represents a 0.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Large shareholders that own at least 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 Monday, February 10th, Saba Capital Management, L.P. sold 5,404 shares of BlackRock California Municipal Income Trust stock. The stock was sold at an average price of $11.34, for a total transaction of $61,281.36.
On Wednesday, February 5th, Saba Capital Management, L.P. sold 58,256 shares of BlackRock California Municipal Income Trust stock. The stock was sold at an average price of $11.34, for a total transaction of $660,623.04.
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 transaction 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 stock was sold at an average price of $11.27, for a total transaction 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 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.

BlackRock California Municipal Income Trust Stock Performance

Shares of BlackRock California Municipal Income Trust stock opened at $11.20 on Thursday. BlackRock California Municipal Income Trust has a one year low of $11.10 and a one year high of $12.23. The firm has a fifty day moving average of $11.37 and a two-hundred day moving average of $11.71.

BlackRock California Municipal Income Trust Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be given a dividend of $0.059 per share. The ex-dividend date is Friday, February 14th. This represents a $0.71 dividend on an annualized basis and a yield of 6.32%.

Hedge Funds Weigh In On BlackRock California Municipal Income Trust

A number of large investors have recently bought and sold shares of BFZ. Sanctuary Advisors LLC purchased a new position in BlackRock California Municipal Income Trust during the 2nd quarter worth $509,000. Trilogy Capital Inc. increased its holdings in shares of BlackRock California Municipal Income Trust by 292.8% in the 3rd quarter. Trilogy Capital Inc. now owns 107,261 shares of the company’s stock valued at $1,297,000 after purchasing an additional 79,952 shares in the last quarter. Farther Finance Advisors LLC purchased a new position in shares of BlackRock California Municipal Income Trust in the 3rd quarter valued at about $170,000. Wolverine Asset Management LLC purchased a new position in shares of BlackRock California Municipal Income Trust in the 3rd quarter valued at about $309,000. Finally, Advisors Asset Management Inc. increased its holdings in shares of BlackRock California Municipal Income Trust by 3.8% in the 3rd quarter. Advisors Asset Management Inc. now owns 463,700 shares of the company’s stock valued at $5,606,000 after purchasing an additional 17,144 shares in the last quarter.

About BlackRock California Municipal Income Trust

(Get Free Report)

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.