BlackRock California Municipal Income Trust (NYSE:BFZ) Major Shareholder Saba Capital Management, L.P. Sells 13,200 Shares

Posted by Scott Moore on Feb 24th, 2025

BlackRock California Municipal Income Trust (NYSE:BFZ – Get Free Report) major shareholder Saba Capital Management, L.P. sold 13,200 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $11.36, for a total value of $149,952.00. Following the transaction, the insider now owns 4,752,360 shares in the company, valued at approximately $53,986,809.60. This trade represents a 0.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 shares were sold at an average price of $11.34, for a total transaction of $61,281.36.
On Friday, February 7th, Saba Capital Management, L.P. sold 1,400 shares of BlackRock California Municipal Income Trust stock. The shares were sold at an average price of $11.32, for a total transaction 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 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 shares were 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 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 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.

BlackRock California Municipal Income Trust Stock Performance

BFZ stock traded down $0.01 during mid-day trading on Monday, hitting $11.33. 24,949 shares of the company were exchanged, compared to its average volume of 85,164. BlackRock California Municipal Income Trust has a 1-year low of $11.10 and a 1-year high of $12.23. The firm’s 50 day simple moving average is $11.30 and its 200 day simple moving average is $11.67.

BlackRock California Municipal Income Trust Dividend Announcement

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

Institutional Investors Weigh In On BlackRock California Municipal Income Trust

Institutional investors have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. raised its stake 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 during the period. Bank of America Corp DE raised its position in BlackRock California Municipal Income Trust by 128.9% in the 4th quarter. Bank of America Corp DE now owns 120,469 shares of the company’s stock valued at $1,349,000 after buying an additional 67,829 shares during the last quarter. Trilogy Capital Inc. lifted its stake in BlackRock California Municipal Income Trust by 1.3% in the 4th quarter. Trilogy Capital Inc. now owns 108,637 shares of the company’s stock valued at $1,217,000 after acquiring an additional 1,376 shares in the last quarter. Atala Financial Inc acquired a new position in BlackRock California Municipal Income Trust during the 4th quarter worth approximately $1,068,000. Finally, Ameriprise Financial Inc. grew its stake in shares of BlackRock California Municipal Income Trust by 247.4% during the 4th quarter. Ameriprise Financial Inc. now owns 69,484 shares of the company’s stock worth $778,000 after acquiring an additional 49,484 shares in the last quarter.

BlackRock California Municipal Income Trust Company Profile

(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.