BlackRock California Municipal Income Trust (NYSE:BFZ) Major Shareholder Sells $233,480.59 in Stock

BlackRock California Municipal Income Trust (NYSE:BFZ) major shareholder Saba Capital Management, L.P. sold 20,717 shares of the company’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $11.27, for a total transaction of $233,480.59. Following the sale, the insider now owns 4,977,191 shares of the company’s stock, valued at $56,092,942.57. The trade was a 0.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• 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 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 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 shares were sold at an average price of $11.82, for a total transaction of $358,063.26.

BlackRock California Municipal Income Trust Trading Up 0.4 %

BFZ opened at $11.35 on Thursday. The firm’s fifty day moving average is $11.40 and its two-hundred day moving average is $11.73. BlackRock California Municipal Income Trust has a twelve month low of $11.10 and a twelve month high of $12.23.

BlackRock California Municipal Income Trust Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be paid a dividend of $0.059 per share. This represents a $0.71 annualized dividend and a yield of 6.24%. The ex-dividend date of this dividend is Friday, February 14th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BFZ. Wolverine Asset Management LLC raised its position in shares of BlackRock California Municipal Income Trust by 33.3% during the fourth quarter. Wolverine Asset Management LLC now owns 34,070 shares of the company’s stock worth $382,000 after purchasing an additional 8,505 shares during the period. Golden State Wealth Management LLC bought a new stake in BlackRock California Municipal Income Trust during the 4th quarter worth approximately $118,000. Trilogy Capital Inc. raised its holdings in BlackRock California Municipal Income Trust by 1.3% during the 4th quarter. Trilogy Capital Inc. now owns 108,637 shares of the company’s stock worth $1,217,000 after buying an additional 1,376 shares during the period. Absolute Investment Advisers LLC bought a new position in BlackRock California Municipal Income Trust in the fourth quarter valued at approximately $387,000. Finally, Advisors Asset Management Inc. boosted its holdings in shares of BlackRock California Municipal Income Trust by 3.8% in the third quarter. Advisors Asset Management Inc. now owns 463,700 shares of the company’s stock valued at $5,606,000 after buying an additional 17,144 shares during the period.

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.