BlackRock California Municipal Income Trust (NYSE:BFZ) Major Shareholder Saba Capital Management, L.P. Sells 6,313 Shares

Posted by Martin Roberts on Oct 31st, 2024

BlackRock California Municipal Income Trust (NYSE:BFZ – Get Free Report) major shareholder Saba Capital Management, L.P. sold 6,313 shares of BlackRock California Municipal Income Trust stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $11.89, for a total transaction of $75,061.57. Following the completion of the sale, the insider now directly owns 5,233,255 shares of the company’s stock, valued at approximately $62,223,401.95. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

BlackRock California Municipal Income Trust Stock Performance

BFZ stock opened at $11.71 on Thursday. BlackRock California Municipal Income Trust has a 1 year low of $9.90 and a 1 year high of $12.31. The stock’s fifty day moving average price is $12.00 and its 200-day moving average price is $11.90.

BlackRock California Municipal Income Trust Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, November 1st. Shareholders of record on Tuesday, October 15th will be given a $0.059 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $0.71 annualized dividend and a yield of 6.05%.

Institutional Investors Weigh In On BlackRock California Municipal Income Trust

Hedge funds and other institutional investors have recently made changes to their positions in the business. Farther Finance Advisors LLC purchased a new position in shares of BlackRock California Municipal Income Trust in the third quarter worth approximately $170,000. B. Riley Wealth Advisors Inc. purchased a new stake in BlackRock California Municipal Income Trust during the first quarter valued at approximately $193,000. Cypress Wealth Services LLC bought a new position in BlackRock California Municipal Income Trust in the third quarter worth approximately $250,000. Sanctuary Advisors LLC purchased a new position in shares of BlackRock California Municipal Income Trust during the 2nd quarter worth $509,000. Finally, Trilogy Capital Inc. grew its position in shares of 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 acquiring an additional 79,952 shares during the period.

BlackRock California Municipal Income Trust Company Profile

(Get Free Report)

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.