Saba Capital Management, L.P. Sells 58,256 Shares of BlackRock California Municipal Income Trust (NYSE:BFZ) Stock

BlackRock California Municipal Income Trust (NYSE:BFZ) major shareholder Saba Capital Management, L.P. sold 58,256 shares of the stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $11.34, for a total transaction of $660,623.04. Following the transaction, the insider now directly owns 4,865,375 shares of the company’s stock, valued at $55,173,352.50. This represents a 1.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own more than 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 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 shares were 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 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 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 0.2 %

NYSE:BFZ traded down $0.02 during trading hours on Thursday, hitting $11.35. The stock had a trading volume of 39,227 shares, compared to its average volume of 83,739. The business has a 50 day simple moving average of $11.40 and a two-hundred day simple moving average of $11.73. 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 company also recently declared a monthly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be paid a dividend of $0.059 per share. This represents a $0.71 annualized dividend and a yield of 6.24%. The ex-dividend date is Friday, February 14th.

Hedge Funds Weigh In On BlackRock California Municipal Income Trust

A number of institutional investors have recently added to or reduced their stakes in BFZ. Sanctuary Advisors LLC acquired a new stake in shares of BlackRock California Municipal Income Trust during the second quarter valued at about $509,000. Cypress Wealth Services LLC purchased a new position in BlackRock California Municipal Income Trust in the third quarter valued at about $250,000. Trilogy Capital Inc. grew its stake in BlackRock California Municipal Income Trust by 292.8% during 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. Farther Finance Advisors LLC purchased a new stake in BlackRock California Municipal Income Trust during the 3rd quarter worth approximately $170,000. Finally, Wolverine Asset Management LLC acquired a new position in shares of BlackRock California Municipal Income Trust in the 3rd quarter valued at approximately $309,000.

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.