BlackRock California Municipal Income Trust (NYSE:BFZ) Major Shareholder Sells $15,848.00 in Stock

BlackRock California Municipal Income Trust (NYSE:BFZ) major shareholder Saba Capital Management, L.P. sold 1,400 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $11.32, for a total value of $15,848.00. Following the completion of the transaction, the insider now owns 4,838,515 shares of the company’s stock, valued at approximately $54,771,989.80. This trade represents a 0.03 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• 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 value 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 stock was 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 stock was 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 value 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 value of $448,045.60.

BlackRock California Municipal Income Trust Trading Up 0.4 %

Shares of BlackRock California Municipal Income Trust stock traded up $0.05 during trading on Monday, hitting $11.33. 55,643 shares of the company’s stock traded hands, compared to its average volume of 85,409. BlackRock California Municipal Income Trust has a 1 year low of $11.10 and a 1 year high of $12.23. The business has a 50-day simple moving average of $11.39 and a 200-day simple moving average of $11.72.

BlackRock California Municipal Income Trust Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be given a dividend of $0.059 per share. The ex-dividend date is Friday, February 14th. This represents a $0.71 annualized dividend and a dividend yield of 6.25%.

Institutional Investors Weigh In On BlackRock California Municipal Income Trust

Several institutional investors have recently modified their holdings of BFZ. Golden State Wealth Management LLC purchased a new stake in shares of BlackRock California Municipal Income Trust during the fourth quarter valued at $118,000. Farther Finance Advisors LLC purchased a new stake in shares of BlackRock California Municipal Income Trust during the third quarter valued at $170,000. Commonwealth Equity Services LLC boosted its position in shares of BlackRock California Municipal Income Trust by 4.7% during the fourth quarter. Commonwealth Equity Services LLC now owns 22,902 shares of the company’s stock valued at $257,000 after buying an additional 1,037 shares during the last quarter. Wolverine Asset Management LLC purchased a new stake in shares of BlackRock California Municipal Income Trust during the third quarter valued at $309,000. Finally, Absolute Investment Advisers LLC purchased a new stake in shares of BlackRock California Municipal Income Trust during the fourth quarter valued at $387,000.

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.