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

Posted by George Bondi 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 business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $11.34, for a total value of $61,281.36. Following the sale, the insider now owns 4,833,111 shares in the company, valued at approximately $54,807,478.74. This trade represents a 0.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Large shareholders that own at least 10% 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, February 7th, Saba Capital Management, L.P. sold 1,400 shares of BlackRock California Municipal Income Trust stock. The stock was 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 shares were 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 stock was 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 stock was 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 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 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 Down 1.0 %

Shares of BFZ stock opened at $11.20 on Thursday. The business’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 one year low of $11.10 and a one year high of $12.23.

BlackRock California Municipal Income Trust Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be paid 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 is Friday, February 14th.

Hedge Funds Weigh In On BlackRock California Municipal Income Trust

A number of hedge funds have recently bought and sold shares of the company. Golden State Wealth Management LLC acquired a new stake in BlackRock California Municipal Income Trust during the 4th quarter worth about $118,000. Landscape Capital Management L.L.C. acquired a new position in shares of BlackRock California Municipal Income Trust in the 4th quarter valued at about $147,000. Farther Finance Advisors LLC bought a new stake in shares of BlackRock California Municipal Income Trust during the 3rd quarter valued at about $170,000. Commonwealth Equity Services LLC grew its stake in 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 worth $257,000 after purchasing an additional 1,037 shares during the period. Finally, Wolverine Asset Management LLC bought a new stake in BlackRock California Municipal Income Trust in the third quarter worth approximately $309,000.

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.