Insider Selling: BlackRock California Municipal Income Trust (NYSE:BFZ) Major Shareholder Sells 103,231 Shares of Stock

BlackRock California Municipal Income Trust (NYSE:BFZ) major shareholder Saba Capital Management, L.P. sold 103,231 shares of the company’s stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $11.17, for a total value of $1,153,090.27. Following the completion of the sale, the insider now directly owns 5,026,079 shares of the company’s stock, valued at $56,141,302.43. The trade was a 2.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Large 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, January 27th, Saba Capital Management, L.P. sold 31,198 shares of BlackRock California Municipal Income Trust stock. The shares were sold at an average price of $11.24, for a total value 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 shares were sold at an average price of $11.32, for a total value 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 value of $358,063.26.

BlackRock California Municipal Income Trust Stock Up 0.2 %

Shares of BlackRock California Municipal Income Trust stock traded up $0.02 on Thursday, reaching $11.23. 71,996 shares of the company were exchanged, compared to its average volume of 70,099. The company’s 50-day moving average is $11.43 and its two-hundred day moving average is $11.76. BlackRock California Municipal Income Trust has a 1-year low of $11.10 and a 1-year high of $12.23.

BlackRock California Municipal Income Trust Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, February 3rd. Investors of record on Wednesday, January 15th will be given a $0.059 dividend. This represents a $0.71 annualized dividend and a yield of 6.30%. The ex-dividend date of this dividend is Wednesday, January 15th.

Institutional Trading of BlackRock California Municipal Income Trust

Several large investors have recently added to or reduced their stakes in BFZ. Trilogy Capital Inc. boosted its stake in 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 purchasing an additional 79,952 shares in the last quarter. Sanctuary Advisors LLC bought a new position in BlackRock California Municipal Income Trust during the 2nd quarter valued at $509,000. Absolute Investment Advisers LLC bought a new position in BlackRock California Municipal Income Trust during the 4th quarter valued at $387,000. Wolverine Asset Management LLC bought a new position in BlackRock California Municipal Income Trust during the 3rd quarter valued at $309,000. Finally, Cypress Wealth Services LLC bought a new position in BlackRock California Municipal Income Trust during the 3rd quarter valued at $250,000.

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.