BlackRock California Municipal Income Trust (NYSE:BFZ) Major Shareholder Saba Capital Management, L.P. Sells 7,951 Shares

BlackRock California Municipal Income Trust (NYSE:BFZ) major shareholder Saba Capital Management, L.P. sold 7,951 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $11.29, for a total value of $89,766.79. Following the completion of the transaction, the insider now directly owns 4,969,240 shares of the company’s stock, valued at approximately $56,102,719.60. This represents a 0.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Friday, January 31st, Saba Capital Management, L.P. sold 20,717 shares of BlackRock California Municipal Income Trust stock. The stock was 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 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.
• On Friday, November 8th, Saba Capital Management, L.P. sold 30,293 shares of BlackRock California Municipal Income Trust stock. The shares were sold at an average price of $11.82, for a total transaction of $358,063.26.

BlackRock California Municipal Income Trust Trading Up 0.4 %

Shares of BFZ stock traded up $0.05 during trading hours on Wednesday, hitting $11.35. 104,500 shares of the company were exchanged, compared to its average volume of 82,142. The firm has a fifty day simple moving average of $11.41 and a 200 day simple moving average of $11.74. BlackRock California Municipal Income Trust has a 52-week low of $11.10 and a 52-week high of $12.23.

BlackRock California Municipal Income Trust Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be given a $0.059 dividend. This represents a $0.71 dividend on an annualized basis and a yield of 6.24%. The ex-dividend date of this dividend is Friday, February 14th.

Institutional Trading of BlackRock California Municipal Income Trust

Several hedge funds have recently made changes to their positions in the company. Golden State Wealth Management LLC bought a new position in shares of BlackRock California Municipal Income Trust during the 4th quarter worth $118,000. Farther Finance Advisors LLC purchased a new stake in BlackRock California Municipal Income Trust during the third quarter valued at about $170,000. Cypress Wealth Services LLC bought a new position in BlackRock California Municipal Income Trust during the third quarter worth about $250,000. Wolverine Asset Management LLC purchased a new position in shares of BlackRock California Municipal Income Trust in the third quarter worth about $309,000. Finally, Absolute Investment Advisers LLC bought a new stake in shares of BlackRock California Municipal Income Trust in the fourth quarter valued at approximately $387,000.

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.