Insider Selling: BlackRock California Municipal Income Trust (NYSE:BFZ) Major Shareholder Sells 58,256 Shares of Stock

BlackRock California Municipal Income Trust (NYSE:BFZ) major shareholder Saba Capital Management, L.P. sold 58,256 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $11.34, for a total transaction of $660,623.04. Following the completion of the sale, the insider now directly owns 4,865,375 shares in the company, valued at $55,173,352.50. This trade represents a 1.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• 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 shares were sold at an average price of $11.27, for a total transaction 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 stock was sold at an average price of $11.17, for a total transaction 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 transaction 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 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 transaction of $358,063.26.

BlackRock California Municipal Income Trust Trading Down 0.4 %

NYSE BFZ opened at $11.28 on Friday. BlackRock California Municipal Income Trust has a 52 week low of $11.10 and a 52 week high of $12.23. The firm has a 50 day moving average of $11.39 and a two-hundred day moving average of $11.73.

BlackRock California Municipal Income Trust Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be issued a dividend of $0.059 per share. This represents a $0.71 annualized dividend and a yield of 6.28%. The ex-dividend date is Friday, February 14th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Trilogy Capital Inc. lifted 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 buying an additional 1,376 shares during the last quarter. Wolverine Asset Management LLC lifted its position in shares of BlackRock California Municipal Income Trust by 33.3% during the 4th quarter. Wolverine Asset Management LLC now owns 34,070 shares of the company’s stock worth $382,000 after buying an additional 8,505 shares during the last quarter. Golden State Wealth Management LLC purchased a new stake in shares of BlackRock California Municipal Income Trust during the 4th quarter worth approximately $118,000. Farther Finance Advisors LLC purchased a new stake in shares of BlackRock California Municipal Income Trust during the 3rd quarter worth approximately $170,000. Finally, Advisors Asset Management Inc. lifted its position in shares of BlackRock California Municipal Income Trust by 3.8% during the 3rd quarter. Advisors Asset Management Inc. now owns 463,700 shares of the company’s stock worth $5,606,000 after buying 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.