BlackRock California Municipal Income Trust (NYSE:BFZ) Major Shareholder Saba Capital Management, L.P. Sells 20,717 Shares

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 shares were 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 directly owns 4,977,191 shares in the company, valued at $56,092,942.57. This represents a 0.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own at least 10% 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 Wednesday, January 29th, Saba Capital Management, L.P. sold 103,231 shares of BlackRock California Municipal Income Trust stock. The shares were 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 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 transaction of $358,063.26.

BlackRock California Municipal Income Trust Stock Performance

Shares of BFZ opened at $11.28 on Tuesday. BlackRock California Municipal Income Trust has a 12 month low of $11.10 and a 12 month high of $12.23. The firm has a fifty day simple moving average of $11.41 and a 200 day simple moving average of $11.74.

BlackRock California Municipal Income Trust Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Monday, February 3rd. Stockholders of record on Wednesday, January 15th were paid a dividend of $0.059 per share. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $0.71 dividend on an annualized basis and a dividend yield of 6.28%.

Institutional Trading of BlackRock California Municipal Income Trust

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Trilogy Capital Inc. increased its position in shares of BlackRock California Municipal Income Trust by 1.3% during the 4th quarter. Trilogy Capital Inc. now owns 108,637 shares of the company’s stock worth $1,217,000 after purchasing an additional 1,376 shares during the last quarter. Wolverine Asset Management LLC grew its stake 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 buying an additional 8,505 shares in the last quarter. Golden State Wealth Management LLC acquired 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 during the third quarter worth $170,000. Finally, Advisors Asset Management Inc. lifted its stake in BlackRock California Municipal Income Trust by 3.8% in the third quarter. Advisors Asset Management Inc. now owns 463,700 shares of the company’s stock valued at $5,606,000 after acquiring an additional 17,144 shares during the last quarter.

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.