BlackRock California Municipal Income Trust (NYSE:BFZ) Major Shareholder Saba Capital Management, L.P. Sells 5,404 Shares

Posted by Mitch Edgeman on Feb 15th, 2025

BlackRock California Municipal Income Trust (NYSE:BFZ – Get Free Report) major shareholder Saba Capital Management, L.P. sold 5,404 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $11.34, for a total transaction of $61,281.36. Following the completion of the transaction, the insider now directly owns 4,833,111 shares of the company’s stock, valued at approximately $54,807,478.74. The trade was a 0.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

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

On Friday, February 7th, Saba Capital Management, L.P. sold 1,400 shares of BlackRock California Municipal Income Trust stock. The stock was 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 value 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 value 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 shares were 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 shares were sold at an average price of $11.32, for a total transaction of $448,045.60.

BlackRock California Municipal Income Trust Stock Down 0.0 %

BFZ stock opened at $11.28 on Friday. BlackRock California Municipal Income Trust has a 52-week low of $11.10 and a 52-week high of $12.23. The company has a fifty day moving average price of $11.35 and a 200-day moving average price of $11.70.

BlackRock California Municipal Income Trust Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be issued a dividend of $0.059 per share. This represents a $0.71 annualized dividend and a yield of 6.28%. The ex-dividend date is Friday, February 14th.

Institutional Investors Weigh In On BlackRock California Municipal Income Trust

A number of institutional investors have recently made changes to their positions in BFZ. Golden State Wealth Management LLC acquired a new position in shares of BlackRock California Municipal Income Trust in the fourth quarter worth approximately $118,000. Jane Street Group LLC bought a new position in BlackRock California Municipal Income Trust during the 4th quarter worth approximately $138,000. Landscape Capital Management L.L.C. acquired a new position in shares of BlackRock California Municipal Income Trust in the 4th quarter worth approximately $147,000. Farther Finance Advisors LLC acquired a new position in shares of BlackRock California Municipal Income Trust in the 3rd quarter worth approximately $170,000. Finally, Commonwealth Equity Services LLC boosted its stake in shares of BlackRock California Municipal Income Trust by 4.7% in the 4th quarter. Commonwealth Equity Services LLC now owns 22,902 shares of the company’s stock valued at $257,000 after purchasing an additional 1,037 shares during the last quarter.

BlackRock California Municipal Income Trust Company Profile

(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.