Saba Capital Management, L.P. Sells 5,404 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 5,404 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $11.34, for a total value of $61,281.36. Following the completion of the sale, the insider now directly owns 4,833,111 shares of the company’s stock, valued at approximately $54,807,478.74. This represents a 0.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

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

• On Friday, February 7th, Saba Capital Management, L.P. sold 1,400 shares of BlackRock California Municipal Income Trust stock. The stock was sold at an average price of $11.32, for a total value of $15,848.00.
• 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 value 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 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 stock was 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 stock was 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 stock was sold at an average price of $11.32, for a total value of $448,045.60.

BlackRock California Municipal Income Trust Stock Up 0.8 %

Shares of BFZ stock opened at $11.27 on Friday. BlackRock California Municipal Income Trust has a fifty-two week low of $11.10 and a fifty-two week high of $12.23. The stock’s 50-day moving average is $11.36 and its two-hundred day moving average is $11.71.

BlackRock California Municipal Income Trust Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be given a $0.059 dividend. This represents a $0.71 annualized dividend and a yield of 6.28%. The ex-dividend date is Friday, February 14th.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of BFZ. Golden State Wealth Management LLC acquired a new position in BlackRock California Municipal Income Trust in the 4th quarter worth about $118,000. Landscape Capital Management L.L.C. acquired a new position in BlackRock California Municipal Income Trust in the 4th quarter worth about $147,000. Farther Finance Advisors LLC acquired a new position in BlackRock California Municipal Income Trust in the 3rd quarter worth about $170,000. Commonwealth Equity Services LLC increased its position in BlackRock California Municipal Income Trust by 4.7% in the 4th quarter. Commonwealth Equity Services LLC now owns 22,902 shares of the company’s stock worth $257,000 after purchasing an additional 1,037 shares during the last quarter. Finally, Wolverine Asset Management LLC acquired a new position in shares of BlackRock California Municipal Income Trust during the 3rd quarter valued at about $309,000.

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.