BlackRock California Municipal Income Trust (NYSE:BFZ) Major Shareholder Saba Capital Management, L.P. Sells 20,717 Shares

BlackRock California Municipal Income Trust (NYSE:BFZ) major shareholder Saba Capital Management, L.P. sold 20,717 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $11.27, for a total transaction of $233,480.59. Following the completion of the sale, the insider now owns 4,977,191 shares in the company, valued at approximately $56,092,942.57. This trade represents a 0.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Major 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, 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 shares were 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 Stock Down 0.0 %

NYSE:BFZ traded down $0.00 during midday trading on Monday, hitting $11.28. The stock had a trading volume of 125,367 shares, compared to its average volume of 75,153. The stock has a 50-day moving average of $11.42 and a 200 day moving average of $11.75. BlackRock California Municipal Income Trust has a one year low of $11.10 and a one year high of $12.23.

BlackRock California Municipal Income Trust Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, February 3rd. Investors of record on Wednesday, January 15th will be paid a $0.059 dividend. This represents a $0.71 dividend on an annualized basis and a yield of 6.28%. The ex-dividend date of this dividend is Wednesday, January 15th.

Institutional Investors Weigh In On BlackRock California Municipal Income Trust

Several large investors have recently modified their holdings of BFZ. Trilogy Capital Inc. boosted its position in shares of BlackRock California Municipal Income Trust by 1.3% in the 4th quarter. Trilogy Capital Inc. now owns 108,637 shares of the company’s stock worth $1,217,000 after purchasing an additional 1,376 shares in the last quarter. Wolverine Asset Management LLC boosted its holdings in BlackRock California Municipal Income Trust by 33.3% in the fourth quarter. Wolverine Asset Management LLC now owns 34,070 shares of the company’s stock worth $382,000 after acquiring an additional 8,505 shares in the last quarter. Golden State Wealth Management LLC purchased a new stake in shares of BlackRock California Municipal Income Trust during the fourth quarter worth about $118,000. Farther Finance Advisors LLC acquired a new position in shares of BlackRock California Municipal Income Trust during the third quarter valued at about $170,000. Finally, Advisors Asset Management Inc. raised its position in shares of BlackRock California Municipal Income Trust by 3.8% in the 3rd quarter. Advisors Asset Management Inc. now owns 463,700 shares of the company’s stock valued at $5,606,000 after purchasing 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.