BlackRock California Municipal Income Trust (NYSE:BFZ) Major Shareholder Sells $89,766.79 in Stock

BlackRock California Municipal Income Trust (NYSE:BFZ) major shareholder Saba Capital Management, L.P. sold 7,951 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $11.29, for a total transaction of $89,766.79. Following the completion of the transaction, the insider now directly owns 4,969,240 shares in the company, valued at $56,102,719.60. This trade represents a 0.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Major 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 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 value of $660,623.04.
• 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 stock was 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 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 transaction 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 stock was sold at an average price of $11.82, for a total transaction of $358,063.26.

BlackRock California Municipal Income Trust Stock Down 0.4 %

Shares of NYSE:BFZ opened at $11.28 on Friday. BlackRock California Municipal Income Trust has a one year low of $11.10 and a one year high of $12.23. The company has a 50-day simple moving average of $11.39 and a 200-day simple moving average of $11.73.

BlackRock California Municipal Income Trust Announces Dividend

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of BFZ. Sanctuary Advisors LLC acquired a new stake in shares of BlackRock California Municipal Income Trust during the second quarter worth $509,000. Farther Finance Advisors LLC acquired a new stake in shares of BlackRock California Municipal Income Trust in the 3rd quarter worth $170,000. Trilogy Capital Inc. boosted its holdings in shares of BlackRock California Municipal Income Trust by 292.8% in the third quarter. Trilogy Capital Inc. now owns 107,261 shares of the company’s stock valued at $1,297,000 after acquiring an additional 79,952 shares in the last quarter. Cypress Wealth Services LLC acquired a new position in shares of BlackRock California Municipal Income Trust during the third quarter worth about $250,000. Finally, Wolverine Asset Management LLC purchased a new position in BlackRock California Municipal Income Trust during the third quarter worth about $309,000.

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.