BlackRock California Municipal Income Trust (NYSE:BFZ) Major Shareholder Sells $358,063.26 in Stock

BlackRock California Municipal Income Trust (NYSE:BFZ) major shareholder Saba Capital Management, L.P. sold 30,293 shares of BlackRock California Municipal Income Trust stock in a transaction on Friday, November 8th. The shares were sold at an average price of $11.82, for a total value of $358,063.26. Following the transaction, the insider now owns 5,200,088 shares in the company, valued at $61,465,040.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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, October 28th, Saba Capital Management, L.P. sold 6,313 shares of BlackRock California Municipal Income Trust stock. The shares were sold at an average price of $11.89, for a total value of $75,061.57.

BlackRock California Municipal Income Trust Price Performance

BFZ traded down $0.13 during trading on Tuesday, reaching $11.71. 43,188 shares of the stock traded hands, compared to its average volume of 70,256. BlackRock California Municipal Income Trust has a fifty-two week low of $10.55 and a fifty-two week high of $12.31. The stock’s 50-day simple moving average is $11.99 and its two-hundred day simple moving average is $11.91.

BlackRock California Municipal Income Trust Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be given a dividend of $0.059 per share. The ex-dividend date is Friday, November 15th. This represents a $0.71 annualized dividend and a dividend yield of 6.05%.

Hedge Funds Weigh In On BlackRock California Municipal Income Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in BFZ. Advisors Asset Management Inc. grew its stake in shares of BlackRock California Municipal Income Trust by 10.6% in the 1st quarter. Advisors Asset Management Inc. now owns 476,270 shares of the company’s stock valued at $5,630,000 after purchasing an additional 45,611 shares during the period. Trilogy Capital Inc. boosted its position in BlackRock California Municipal Income Trust by 292.8% in the 3rd 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 during the last quarter. Sanctuary Advisors LLC bought a new position in BlackRock California Municipal Income Trust in the 2nd quarter valued at $509,000. Wolverine Asset Management LLC bought a new position in BlackRock California Municipal Income Trust in the 3rd quarter valued at $309,000. Finally, Cypress Wealth Services LLC bought a new position in BlackRock California Municipal Income Trust in the 3rd quarter valued at $250,000.

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.