Insider Selling: BlackRock California Municipal Income Trust (NYSE:BFZ) Major Shareholder Sells 39,580 Shares of Stock

BlackRock California Municipal Income Trust (NYSE:BFZ) major shareholder Saba Capital Management, L.P. sold 39,580 shares of the company’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $11.32, for a total value of $448,045.60. Following the sale, the insider now directly owns 5,160,508 shares of the company’s stock, valued at approximately $58,416,950.56. This represents a 0.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own 10% or more of a company’s stock 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 Trading Down 0.2 %

NYSE BFZ traded down $0.02 during trading on Thursday, reaching $11.26. 40,358 shares of the company’s stock were exchanged, compared to its average volume of 62,454. BlackRock California Municipal Income Trust has a fifty-two week low of $11.10 and a fifty-two week high of $12.23. The company’s fifty day simple moving average is $11.46 and its 200-day simple moving average is $11.79.

BlackRock California Municipal Income Trust Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Wednesday, January 15th will be paid a dividend of $0.059 per share. This represents a $0.71 dividend on an annualized basis and a dividend yield of 6.29%. The ex-dividend date of this dividend is Wednesday, January 15th.

Institutional Trading of BlackRock California Municipal Income Trust

A number of institutional investors have recently bought and sold shares of BFZ. Farther Finance Advisors LLC purchased a new stake in shares of BlackRock California Municipal Income Trust during the 3rd quarter worth about $170,000. Advisors Asset Management Inc. increased its holdings in BlackRock California Municipal Income Trust by 3.8% in the third 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. Cypress Wealth Services LLC bought a new position in BlackRock California Municipal Income Trust during the third quarter valued at approximately $250,000. Wolverine Asset Management LLC bought a new stake in BlackRock California Municipal Income Trust in the third quarter worth approximately $309,000. Finally, Sanctuary Advisors LLC acquired a new position in shares of BlackRock California Municipal Income Trust during the 2nd quarter worth $509,000.

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.