BlackRock California Municipal Income Trust (NYSE:BFZ) Major Shareholder Saba Capital Management, L.P. Sells 39,580 Shares

BlackRock California Municipal Income Trust (NYSE:BFZ) major shareholder Saba Capital Management, L.P. sold 39,580 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $11.32, for a total value of $448,045.60. Following the completion of the transaction, the insider now directly owns 5,160,508 shares in the company, valued at $58,416,950.56. The trade was a 0.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own 10% or more of a company’s stock 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, 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 value of $358,063.26.
• On Monday, October 28th, Saba Capital Management, L.P. sold 6,313 shares of BlackRock California Municipal Income Trust stock. The stock was sold at an average price of $11.89, for a total transaction of $75,061.57.

BlackRock California Municipal Income Trust Price Performance

NYSE:BFZ traded down $0.02 during mid-day trading on Thursday, hitting $11.26. 40,358 shares of the company’s stock traded hands, compared to its average volume of 62,454. The firm has a 50 day moving average of $11.46 and a two-hundred day moving average of $11.79. BlackRock California Municipal Income Trust has a 12 month low of $11.10 and a 12 month high of $12.23.

BlackRock California Municipal Income Trust Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Wednesday, January 15th will be paid a $0.059 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $0.71 annualized dividend and a dividend yield of 6.29%.

Hedge Funds Weigh In On BlackRock California Municipal Income Trust

Large investors have recently bought and sold shares of the stock. Trilogy Capital Inc. grew its holdings 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 worth $1,297,000 after purchasing an additional 79,952 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in BlackRock California Municipal Income Trust in the 2nd quarter valued at $509,000. Wolverine Asset Management LLC bought a new stake in shares of BlackRock California Municipal Income Trust in the 3rd quarter worth about $309,000. Cypress Wealth Services LLC acquired a new stake in shares of BlackRock California Municipal Income Trust during the third quarter worth approximately $250,000. Finally, Advisors Asset Management Inc. raised its position in BlackRock California Municipal Income Trust by 3.8% in the 3rd quarter. Advisors Asset Management Inc. now owns 463,700 shares of the company’s stock valued at $5,606,000 after purchasing 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.