Saba Capital Management, L.P. Sells 20,717 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 20,717 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $11.27, for a total value of $233,480.59. Following the completion of the sale, the insider now owns 4,977,191 shares of the company’s stock, valued at approximately $56,092,942.57. This trade represents a 0.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Large shareholders that own more than 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 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 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 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 shares were sold at an average price of $11.82, for a total transaction of $358,063.26.

BlackRock California Municipal Income Trust Trading Down 0.0 %

NYSE BFZ opened at $11.28 on Tuesday. The firm’s 50 day simple moving average is $11.41 and its 200 day simple moving average is $11.74. 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 firm also recently announced a monthly dividend, which was paid on Monday, February 3rd. Shareholders of record on Wednesday, January 15th were issued a $0.059 dividend. This represents a $0.71 dividend on an annualized basis and a dividend yield of 6.28%. The ex-dividend date of this dividend was Wednesday, January 15th.

Hedge Funds Weigh In On BlackRock California Municipal Income Trust

Several hedge funds and other institutional investors have recently modified their holdings of the business. Advisors Asset Management Inc. boosted its stake 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 valued at $5,606,000 after buying an additional 17,144 shares in the last quarter. Trilogy Capital Inc. lifted its holdings in shares of BlackRock California Municipal Income Trust by 1.3% in the fourth quarter. Trilogy Capital Inc. now owns 108,637 shares of the company’s stock worth $1,217,000 after acquiring an additional 1,376 shares during the last quarter. Sanctuary Advisors LLC bought a new position in shares of BlackRock California Municipal Income Trust in the second quarter worth about $509,000. Absolute Investment Advisers LLC acquired a new stake in shares of BlackRock California Municipal Income Trust in the 4th quarter valued at approximately $387,000. Finally, Wolverine Asset Management LLC grew its holdings in shares of BlackRock California Municipal Income Trust by 33.3% during the 4th quarter. Wolverine Asset Management LLC now owns 34,070 shares of the company’s stock valued at $382,000 after purchasing an additional 8,505 shares during the last quarter.

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.