BlackRock California Municipal Income Trust (NYSE:BFZ) Major Shareholder Saba Capital Management, L.P. Sells 5,404 Shares

Posted by Lauren Steadman on Feb 13th, 2025

BlackRock California Municipal Income Trust (NYSE:BFZ – Get Free Report) major shareholder Saba Capital Management, L.P. sold 5,404 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $11.34, for a total transaction of $61,281.36. Following the completion of the transaction, the insider now owns 4,833,111 shares in the company, valued at $54,807,478.74. This trade represents a 0.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Large shareholders that own more than 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 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 value 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 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 shares were sold at an average price of $11.32, for a total transaction of $448,045.60.

BlackRock California Municipal Income Trust Trading Down 1.0 %

NYSE BFZ opened at $11.20 on Thursday. The firm’s 50 day simple moving average is $11.37 and its 200 day simple moving average is $11.71. 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 Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be issued a $0.059 dividend. This represents a $0.71 dividend on an annualized basis and a dividend yield of 6.32%. The ex-dividend date of this dividend is Friday, February 14th.

Hedge Funds Weigh In On BlackRock California Municipal Income Trust

Hedge funds and other institutional investors have recently modified their holdings of the business. Atala Financial Inc bought a new position in BlackRock California Municipal Income Trust in the fourth quarter valued at about $1,068,000. Trilogy Capital Inc. boosted its stake in shares of BlackRock California Municipal Income Trust by 292.8% in the 3rd quarter. Trilogy Capital Inc. now owns 107,261 shares of the company’s stock valued at $1,297,000 after purchasing an additional 79,952 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of BlackRock California Municipal Income Trust during the 4th quarter valued at approximately $529,000. Sanctuary Advisors LLC acquired a new position in BlackRock California Municipal Income Trust during the 2nd quarter worth approximately $509,000. Finally, Absolute Investment Advisers LLC bought a new position in BlackRock California Municipal Income Trust in the 4th quarter valued at approximately $387,000.

About BlackRock California Municipal Income Trust

(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.