Insider Buying: BlackRock California Municipal Income Trust (NYSE:BFZ) Major Shareholder Purchases $167,222.56 in Stock

BlackRock California Municipal Income Trust (NYSE:BFZ) major shareholder Saba Capital Management, L.P. acquired 14,317 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were purchased at an average price of $11.68 per share, with a total value of $167,222.56. Following the completion of the purchase, the insider now owns 5,144,048 shares in the company, valued at approximately $60,082,480.64. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major 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, March 25th, Saba Capital Management, L.P. bought 23,774 shares of BlackRock California Municipal Income Trust stock. The shares were bought at an average price of $11.77 per share, for a total transaction of $279,819.98.
• On Tuesday, March 12th, Saba Capital Management, L.P. bought 35,703 shares of BlackRock California Municipal Income Trust stock. The shares were bought at an average price of $11.95 per share, for a total transaction of $426,650.85.

BlackRock California Municipal Income Trust Trading Up 0.3 %

BFZ opened at $11.82 on Thursday. BlackRock California Municipal Income Trust has a one year low of $9.86 and a one year high of $12.31. The business’s 50 day moving average price is $11.78 and its 200 day moving average price is $11.25.

BlackRock California Municipal Income Trust Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, April 1st. Investors of record on Friday, March 15th will be issued a $0.051 dividend. This represents a $0.61 dividend on an annualized basis and a yield of 5.18%. The ex-dividend date of this dividend is Thursday, March 14th.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Saba Capital Management L.P. raised its position in BlackRock California Municipal Income Trust by 7.4% in the third quarter. Saba Capital Management L.P. now owns 4,513,628 shares of the company’s stock valued at $46,445,000 after purchasing an additional 310,016 shares during the period. Advisors Asset Management Inc. raised its position in BlackRock California Municipal Income Trust by 3.3% in the third quarter. Advisors Asset Management Inc. now owns 423,566 shares of the company’s stock valued at $4,358,000 after purchasing an additional 13,578 shares during the period. Hennion & Walsh Asset Management Inc. raised its position in BlackRock California Municipal Income Trust by 6.5% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 358,458 shares of the company’s stock valued at $3,689,000 after purchasing an additional 21,799 shares during the period. Woodline Partners LP raised its position in BlackRock California Municipal Income Trust by 1,207.5% in the second quarter. Woodline Partners LP now owns 202,382 shares of the company’s stock valued at $2,400,000 after purchasing an additional 186,904 shares during the period. Finally, UBS Group AG raised its position in BlackRock California Municipal Income Trust by 102.5% in the fourth quarter. UBS Group AG now owns 141,776 shares of the company’s stock valued at $1,706,000 after purchasing an additional 71,776 shares during the period.

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.