BlackRock California Municipal Income Trust (NYSE:BFZ) Major Shareholder Saba Capital Management, L.P. Sells 39,580 Shares

BlackRock California Municipal Income Trust (NYSE:BFZ) major shareholder Saba Capital Management, L.P. sold 39,580 shares of the business’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $11.32, for a total transaction of $448,045.60. Following the completion of the sale, the insider now owns 5,160,508 shares in the company, valued at $58,416,950.56. This represents a 0.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Large shareholders that own more than 10% 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, 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 transaction 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 shares were sold at an average price of $11.89, for a total transaction of $75,061.57.

BlackRock California Municipal Income Trust Stock Down 0.2 %

NYSE BFZ opened at $11.26 on Friday. BlackRock California Municipal Income Trust has a 1-year low of $11.10 and a 1-year high of $12.23. The company has a 50 day moving average of $11.45 and a 200-day moving average of $11.79.

BlackRock California Municipal Income Trust Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, February 3rd. Investors of record on Wednesday, January 15th will be issued a dividend of $0.059 per share. The ex-dividend date of this dividend 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

Institutional investors have recently bought and sold shares of the business. Sanctuary Advisors LLC bought a new stake in shares of BlackRock California Municipal Income Trust during the second quarter worth $509,000. Farther Finance Advisors LLC acquired a new position in BlackRock California Municipal Income Trust during the 3rd quarter worth about $170,000. Trilogy Capital Inc. grew its holdings in BlackRock California Municipal Income Trust by 292.8% during the 3rd quarter. Trilogy Capital Inc. now owns 107,261 shares of the company’s stock worth $1,297,000 after acquiring an additional 79,952 shares during the last quarter. Cypress Wealth Services LLC acquired a new stake in BlackRock California Municipal Income Trust in the 3rd quarter valued at about $250,000. Finally, Wolverine Asset Management LLC acquired a new stake in BlackRock California Municipal Income Trust in 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.