Napa Wealth Management Sells 1,500 Shares of BlackRock California Municipal Income Trust (NYSE:BFZ)

Napa Wealth Management decreased its holdings in shares of BlackRock California Municipal Income Trust (NYSE:BFZ) by 9.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,658 shares of the company’s stock after selling 1,500 shares during the quarter. Napa Wealth Management’s holdings in BlackRock California Municipal Income Trust were worth $165,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Advisors Asset Management Inc. lifted its holdings in shares of 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 acquiring an additional 45,611 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new stake in BlackRock California Municipal Income Trust in the first quarter worth about $193,000. Sanctuary Advisors LLC purchased a new position in shares of BlackRock California Municipal Income Trust during the second quarter valued at approximately $509,000. Cypress Wealth Services LLC bought a new position in shares of BlackRock California Municipal Income Trust during the third quarter valued at approximately $250,000. Finally, Trilogy Capital Inc. raised 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 worth $1,297,000 after buying an additional 79,952 shares during the period.

BlackRock California Municipal Income Trust Trading Down 0.2 %

NYSE:BFZ opened at $11.53 on Tuesday. BlackRock California Municipal Income Trust has a twelve month low of $10.89 and a twelve month high of $12.31. The stock has a fifty day simple moving average of $11.95 and a 200-day simple moving average of $11.91.

BlackRock California Municipal Income Trust Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be paid a dividend of $0.059 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.71 annualized dividend and a dividend yield of 6.14%.

Insider Activity at BlackRock California Municipal Income Trust

In other news, major shareholder Saba Capital Management, L.P. sold 30,293 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $11.82, for a total value of $358,063.26. Following the completion of the transaction, the insider now directly owns 5,200,088 shares of the company’s stock, valued at approximately $61,465,040.16. The trade was a 0.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

BlackRock California Municipal Income Trust 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.