BlackRock California Municipal Income Trust (NYSE:BFZ) Major Shareholder Saba Capital Management, L.P. Sells 31,198 Shares

BlackRock California Municipal Income Trust (NYSE:BFZ) major shareholder Saba Capital Management, L.P. sold 31,198 shares of the business’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $11.24, for a total value of $350,665.52. Following the completion of the transaction, the insider now directly owns 5,129,310 shares of the company’s stock, valued at approximately $57,653,444.40. This trade represents a 0.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own 10% or more of a company’s stock 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, 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 value 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 Price Performance

Shares of NYSE BFZ opened at $11.21 on Thursday. The company’s fifty day moving average price is $11.43 and its 200 day moving average price is $11.76. BlackRock California Municipal Income Trust has a 1 year low of $11.10 and a 1 year high of $12.23.

BlackRock California Municipal Income Trust Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Wednesday, January 15th will be paid a dividend of $0.059 per share. This represents a $0.71 annualized dividend and a dividend yield of 6.32%. The ex-dividend date is Wednesday, January 15th.

Institutional Investors Weigh In On BlackRock California Municipal Income Trust

A number of institutional investors have recently modified their holdings of BFZ. Trilogy Capital Inc. boosted its position in BlackRock California Municipal Income Trust by 292.8% during the third quarter. Trilogy Capital Inc. now owns 107,261 shares of the company’s stock worth $1,297,000 after purchasing an additional 79,952 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in shares of BlackRock California Municipal Income Trust during the 2nd quarter worth approximately $509,000. Absolute Investment Advisers LLC purchased a new position in shares of BlackRock California Municipal Income Trust during the 4th quarter valued at approximately $387,000. Wolverine Asset Management LLC acquired a new stake in BlackRock California Municipal Income Trust in the 3rd quarter valued at $309,000. Finally, Cypress Wealth Services LLC purchased a new stake in BlackRock California Municipal Income Trust in the 3rd quarter worth $250,000.

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.