Saba Capital Management, L.P. Sells 1,400 Shares of BlackRock California Municipal Income Trust (NYSE:BFZ) Stock

Posted by Tristan Rich on Feb 12th, 2025

BlackRock California Municipal Income Trust (NYSE:BFZ – Get Free Report) major shareholder Saba Capital Management, L.P. sold 1,400 shares of BlackRock California Municipal Income Trust stock in a transaction on Friday, February 7th. The stock was sold at an average price of $11.32, for a total transaction of $15,848.00. Following the sale, the insider now owns 4,838,515 shares in the company, valued at $54,771,989.80. This represents a 0.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own more than 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 Wednesday, February 5th, Saba Capital Management, L.P. sold 58,256 shares of BlackRock California Municipal Income Trust stock. The stock was 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 stock was 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 Price Performance

Shares of BlackRock California Municipal Income Trust stock opened at $11.31 on Wednesday. BlackRock California Municipal Income Trust has a 1 year low of $11.10 and a 1 year high of $12.23. The company’s fifty day moving average is $11.38 and its two-hundred day moving average is $11.71.

BlackRock California Municipal Income Trust Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be issued a $0.059 dividend. This represents a $0.71 annualized dividend and a dividend yield of 6.26%. The ex-dividend date is Friday, February 14th.

Institutional Trading of BlackRock California Municipal Income Trust

Hedge funds and other institutional investors have recently made changes to their positions in the company. Golden State Wealth Management LLC purchased a new stake in shares of BlackRock California Municipal Income Trust in the fourth quarter valued at about $118,000. Farther Finance Advisors LLC purchased a new stake in shares of BlackRock California Municipal Income Trust in the third quarter valued at about $170,000. Commonwealth Equity Services LLC boosted its holdings in shares of BlackRock California Municipal Income Trust by 4.7% in the fourth quarter. Commonwealth Equity Services LLC now owns 22,902 shares of the company’s stock valued at $257,000 after acquiring an additional 1,037 shares in the last quarter. Wolverine Asset Management LLC purchased a new stake in shares of BlackRock California Municipal Income Trust in the third quarter valued at about $309,000. Finally, Absolute Investment Advisers LLC purchased a new stake in shares of BlackRock California Municipal Income Trust in the fourth quarter valued at about $387,000.

About BlackRock California Municipal Income Trust

(Get Free Report)

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.