Saba Capital Management, L.P. Sells 39,580 Shares of BlackRock California Municipal Income Trust (NYSE:BFZ) Stock

BlackRock California Municipal Income Trust (NYSE:BFZ) major shareholder Saba Capital Management, L.P. sold 39,580 shares of BlackRock California Municipal Income Trust stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $11.32, for a total transaction of $448,045.60. Following the transaction, the insider now directly owns 5,160,508 shares in the company, valued at approximately $58,416,950.56. This represents a 0.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 10% 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 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 value of $358,063.26.
• On Monday, October 28th, Saba Capital Management, L.P. sold 6,313 shares of BlackRock California Municipal Income Trust stock. The stock was sold at an average price of $11.89, for a total value of $75,061.57.

BlackRock California Municipal Income Trust Trading Down 0.1 %

NYSE BFZ opened at $11.25 on Friday. The business’s fifty day moving average is $11.44 and its 200-day moving average is $11.78. BlackRock California Municipal Income Trust has a one year low of $11.10 and a one year high of $12.23.

BlackRock California Municipal Income Trust Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Wednesday, January 15th will be paid a $0.059 dividend. This represents a $0.71 dividend on an annualized basis and a yield of 6.29%. The ex-dividend date of this dividend is Wednesday, January 15th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of BFZ. Farther Finance Advisors LLC bought a new stake in shares of BlackRock California Municipal Income Trust in the 3rd quarter worth approximately $170,000. Cypress Wealth Services LLC purchased a new stake in BlackRock California Municipal Income Trust in the third quarter worth $250,000. Wolverine Asset Management LLC bought a new stake in shares of BlackRock California Municipal Income Trust in the third quarter valued at $309,000. Absolute Investment Advisers LLC purchased a new position in shares of BlackRock California Municipal Income Trust during the 4th quarter valued at $387,000. Finally, Sanctuary Advisors LLC bought a new position in shares of BlackRock California Municipal Income Trust during the 2nd quarter worth $509,000.

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.