Insider Selling: BlackRock California Municipal Income Trust (NYSE:BFZ) Major Shareholder Sells 1,400 Shares of Stock

BlackRock California Municipal Income Trust (NYSE:BFZ) major shareholder Saba Capital Management, L.P. sold 1,400 shares of the firm’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $11.32, for a total transaction of $15,848.00. Following the transaction, the insider now owns 4,838,515 shares of the company’s stock, valued at $54,771,989.80. This trade represents a 0.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Major shareholders that own at least 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 Monday, February 10th, Saba Capital Management, L.P. sold 5,404 shares of BlackRock California Municipal Income Trust stock. The shares were sold at an average price of $11.34, for a total transaction of $61,281.36.
• 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 transaction 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 transaction 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 transaction 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 transaction 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 transaction 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.

BlackRock California Municipal Income Trust Stock Down 1.0 %

BlackRock California Municipal Income Trust stock opened at $11.20 on Thursday. BlackRock California Municipal Income Trust has a 12-month low of $11.10 and a 12-month high of $12.23. The firm’s 50-day moving average is $11.37 and its two-hundred day moving average is $11.71.

BlackRock California Municipal Income Trust Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be paid a dividend of $0.059 per share. The ex-dividend date is Friday, February 14th. This represents a $0.71 annualized dividend and a dividend yield of 6.32%.

Institutional Investors Weigh In On BlackRock California Municipal Income Trust

Several hedge funds have recently modified their holdings of BFZ. Sanctuary Advisors LLC acquired a new stake in shares of BlackRock California Municipal Income Trust during the 2nd quarter worth about $509,000. Trilogy Capital Inc. boosted its position in shares of BlackRock California Municipal Income Trust by 292.8% in the third quarter. Trilogy Capital Inc. now owns 107,261 shares of the company’s stock worth $1,297,000 after acquiring an additional 79,952 shares during the last quarter. Farther Finance Advisors LLC acquired a new stake in shares of BlackRock California Municipal Income Trust in the third quarter worth approximately $170,000. Wolverine Asset Management LLC acquired a new stake in shares of BlackRock California Municipal Income Trust in the third quarter worth approximately $309,000. Finally, Advisors Asset Management Inc. boosted its position in shares of 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 worth $5,606,000 after acquiring an additional 17,144 shares during the last quarter.

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.