Saba Capital Management, L.P. Sells 103,231 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 103,231 shares of the firm’s stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $11.17, for a total value of $1,153,090.27. Following the completion of the sale, the insider now directly owns 5,026,079 shares of the company’s stock, valued at approximately $56,141,302.43. This trade represents a 2.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• 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 value 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 value of $358,063.26.

BlackRock California Municipal Income Trust Price Performance

Shares of NYSE:BFZ traded up $0.02 during midday trading on Thursday, hitting $11.23. 71,996 shares of the stock were exchanged, compared to its average volume of 70,099. BlackRock California Municipal Income Trust has a 52-week low of $11.10 and a 52-week high of $12.23. The business’s fifty day simple moving average is $11.43 and its two-hundred day simple moving average is $11.76.

BlackRock California Municipal Income Trust Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, February 3rd. Investors of record on Wednesday, January 15th will be issued a dividend of $0.059 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $0.71 annualized dividend and a dividend yield of 6.30%.

Institutional Trading of BlackRock California Municipal Income Trust

Hedge funds and other institutional investors have recently modified their holdings of the company. Sanctuary Advisors LLC bought a new position in BlackRock California Municipal Income Trust during the second quarter valued at about $509,000. Cypress Wealth Services LLC bought a new position in BlackRock California Municipal Income Trust during the third quarter valued at about $250,000. Trilogy Capital Inc. raised its holdings in BlackRock California Municipal Income Trust by 292.8% during the third quarter. Trilogy Capital Inc. now owns 107,261 shares of the company’s stock valued at $1,297,000 after buying an additional 79,952 shares in the last quarter. Farther Finance Advisors LLC bought a new position in BlackRock California Municipal Income Trust during the third quarter valued at about $170,000. Finally, Wolverine Asset Management LLC bought a new position in BlackRock California Municipal Income Trust during the third quarter valued at about $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.