Insider Selling: BlackRock California Municipal Income Trust (NYSE:BFZ) Major Shareholder Sells 39,580 Shares of Stock

BlackRock California Municipal Income Trust (NYSE:BFZ) major shareholder Saba Capital Management, L.P. sold 39,580 shares of BlackRock California Municipal Income Trust stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $11.32, for a total value of $448,045.60. Following the completion of the transaction, the insider now owns 5,160,508 shares of the company’s stock, valued at $58,416,950.56. This trade represents a 0.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Large 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 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 value of $358,063.26.
• On Monday, October 28th, Saba Capital Management, L.P. sold 6,313 shares of BlackRock California Municipal Income Trust stock. The stock was sold at an average price of $11.89, for a total value of $75,061.57.

BlackRock California Municipal Income Trust Trading Down 0.1 %

NYSE:BFZ opened at $11.25 on Friday. BlackRock California Municipal Income Trust has a one year low of $11.10 and a one year high of $12.23. The stock has a 50-day simple moving average of $11.44 and a 200 day simple moving average of $11.78.

BlackRock California Municipal Income Trust Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Wednesday, January 15th will be paid a $0.059 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $0.71 dividend on an annualized basis and a yield of 6.29%.

Hedge Funds Weigh In On BlackRock California Municipal Income Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of BFZ. Farther Finance Advisors LLC acquired a new position in BlackRock California Municipal Income Trust in the third quarter valued at approximately $170,000. Cypress Wealth Services LLC acquired a new position in BlackRock California Municipal Income Trust in the third quarter valued at approximately $250,000. Wolverine Asset Management LLC acquired a new position in BlackRock California Municipal Income Trust in the third quarter valued at approximately $309,000. Absolute Investment Advisers LLC acquired a new position in BlackRock California Municipal Income Trust in the fourth quarter valued at approximately $387,000. Finally, Sanctuary Advisors LLC acquired a new position in BlackRock California Municipal Income Trust in the second quarter valued at 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.