BlackRock California Municipal Income Trust (NYSE:BFZ) Major Shareholder Sells $75,061.57 in Stock

BlackRock California Municipal Income Trust (NYSE:BFZ) major shareholder Saba Capital Management, L.P. sold 6,313 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $11.89, for a total value of $75,061.57. Following the completion of the transaction, the insider now directly owns 5,233,255 shares in the company, valued at approximately $62,223,401.95. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

BlackRock California Municipal Income Trust Stock Performance

NYSE BFZ opened at $11.71 on Friday. BlackRock California Municipal Income Trust has a 12 month low of $9.90 and a 12 month high of $12.31. The company’s 50 day moving average is $12.00 and its two-hundred day moving average is $11.90.

BlackRock California Municipal Income Trust Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 15th will be issued a $0.059 dividend. This represents a $0.71 annualized dividend and a yield of 6.05%. The ex-dividend date of this dividend is Tuesday, October 15th.

Institutional Investors Weigh In On BlackRock California Municipal Income Trust

A number of institutional investors have recently bought and sold shares of the business. Trilogy Capital Inc. boosted its stake 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 worth $1,297,000 after acquiring an additional 79,952 shares during the period. Advisors Asset Management Inc. lifted its holdings in BlackRock California Municipal Income Trust by 10.6% in the 1st quarter. Advisors Asset Management Inc. now owns 476,270 shares of the company’s stock worth $5,630,000 after purchasing an additional 45,611 shares in the last quarter. Sanctuary Advisors LLC bought a new position in BlackRock California Municipal Income Trust in the 2nd quarter worth approximately $509,000. Cypress Wealth Services LLC bought a new stake in shares of BlackRock California Municipal Income Trust during the third quarter valued at approximately $250,000. Finally, B. Riley Wealth Advisors Inc. purchased a new position in shares of BlackRock California Municipal Income Trust in the first quarter worth $193,000.

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.