Saba Capital Management, L.P. Sells 13,200 Shares of BlackRock California Municipal Income Trust (NYSE:BFZ) Stock

BlackRock California Municipal Income Trust (NYSE:BFZ) major shareholder Saba Capital Management, L.P. sold 13,200 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $11.36, for a total transaction of $149,952.00. Following the transaction, the insider now owns 4,752,360 shares of the company’s stock, valued at $53,986,809.60. The trade was a 0.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 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 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 transaction 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 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 stock was 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 stock was 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 Up 0.6 %

NYSE:BFZ opened at $11.41 on Wednesday. BlackRock California Municipal Income Trust has a 52 week low of $11.10 and a 52 week high of $12.23. The firm’s 50-day simple moving average is $11.29 and its 200 day simple moving average is $11.66.

BlackRock California Municipal Income Trust Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be given a dividend of $0.059 per share. This represents a $0.71 dividend on an annualized basis and a yield of 6.21%. The ex-dividend date of this dividend is Friday, February 14th.

Hedge Funds Weigh In On BlackRock California Municipal Income Trust

Several hedge funds have recently bought and sold shares of the company. Elequin Capital LP bought a new position in BlackRock California Municipal Income Trust in the 4th quarter valued at about $52,000. Nomura Holdings Inc. acquired a new stake in BlackRock California Municipal Income Trust during the 4th quarter worth approximately $150,000. Bank of America Corp DE boosted its position in BlackRock California Municipal Income Trust by 128.9% during the 4th quarter. Bank of America Corp DE now owns 120,469 shares of the company’s stock worth $1,349,000 after buying an additional 67,829 shares during the period. Ameriprise Financial Inc. lifted its position in shares of BlackRock California Municipal Income Trust by 247.4% in the 4th quarter. Ameriprise Financial Inc. now owns 69,484 shares of the company’s stock worth $778,000 after purchasing an additional 49,484 shares during the period. Finally, Jane Street Group LLC acquired a new position in shares of BlackRock California Municipal Income Trust in the 4th quarter worth approximately $138,000.

About BlackRock California Municipal Income Trust

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.