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

BlackRock California Municipal Income Trust (NYSE:BFZ) major shareholder Saba Capital Management, L.P. sold 5,404 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $11.34, for a total value of $61,281.36. Following the transaction, the insider now directly owns 4,833,111 shares in the company, valued at approximately $54,807,478.74. This represents a 0.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Major shareholders that own 10% or more 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 Friday, February 7th, Saba Capital Management, L.P. sold 1,400 shares of BlackRock California Municipal Income Trust stock. The shares were sold at an average price of $11.32, for a total value 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 value 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 shares were 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 value 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 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 shares were sold at an average price of $11.32, for a total value of $448,045.60.

BlackRock California Municipal Income Trust Stock Performance

Shares of NYSE:BFZ opened at $11.27 on Friday. The business has a 50 day moving average price of $11.36 and a 200 day moving average price of $11.71. BlackRock California Municipal Income Trust has a twelve month low of $11.10 and a twelve month high of $12.23.

BlackRock California Municipal Income Trust Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.71 annualized dividend and a yield of 6.28%.

Institutional Trading of BlackRock California Municipal Income Trust

A number of hedge funds have recently modified their holdings of BFZ. Golden State Wealth Management LLC bought a new stake in shares of BlackRock California Municipal Income Trust in the 4th quarter worth approximately $118,000. Landscape Capital Management L.L.C. bought a new stake in shares of BlackRock California Municipal Income Trust in the 4th quarter worth approximately $147,000. Farther Finance Advisors LLC bought a new stake in shares of BlackRock California Municipal Income Trust in the 3rd quarter worth approximately $170,000. Commonwealth Equity Services LLC lifted its position in shares of BlackRock California Municipal Income Trust by 4.7% in the 4th quarter. Commonwealth Equity Services LLC now owns 22,902 shares of the company’s stock worth $257,000 after acquiring an additional 1,037 shares during the period. Finally, Wolverine Asset Management LLC bought a new stake in shares of BlackRock California Municipal Income Trust in the 3rd quarter worth 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.