Saba Capital Management, L.P. Sells 31,198 Shares of BlackRock California Municipal Income Trust (NYSE:BFZ) Stock

BlackRock California Municipal Income Trust (NYSE:BFZ) major shareholder Saba Capital Management, L.P. sold 31,198 shares of the company’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $11.24, for a total transaction of $350,665.52. Following the transaction, the insider now directly owns 5,129,310 shares in the company, valued at approximately $57,653,444.40. This trade represents a 0.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own 10% or more 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 Wednesday, January 29th, Saba Capital Management, L.P. sold 103,231 shares of BlackRock California Municipal Income Trust stock. The stock was sold at an average price of $11.17, for a total transaction of $1,153,090.27.
• On Wednesday, January 22nd, Saba Capital Management, L.P. sold 39,580 shares of BlackRock California Municipal Income Trust stock. The stock was sold at an average price of $11.32, for a total transaction 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 stock was sold at an average price of $11.82, for a total value of $358,063.26.

BlackRock California Municipal Income Trust Stock Up 0.4 %

NYSE BFZ opened at $11.26 on Friday. The business has a 50 day moving average price of $11.42 and a 200 day moving average price of $11.76. BlackRock California Municipal Income Trust has a 1-year low of $11.10 and a 1-year high of $12.23.

BlackRock California Municipal Income Trust Announces Dividend

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Golden State Wealth Management LLC purchased a new position in BlackRock California Municipal Income Trust during the 4th quarter valued at about $118,000. Farther Finance Advisors LLC acquired a new stake in shares of BlackRock California Municipal Income Trust in the third quarter valued at approximately $170,000. Cypress Wealth Services LLC purchased a new position in shares of BlackRock California Municipal Income Trust during the 3rd quarter worth approximately $250,000. Wolverine Asset Management LLC acquired a new position in shares of BlackRock California Municipal Income Trust during the 3rd quarter worth approximately $309,000. Finally, Absolute Investment Advisers LLC purchased a new stake in BlackRock California Municipal Income Trust in the 4th quarter valued at approximately $387,000.

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.