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 sale, the insider now directly owns 5,233,255 shares of the company’s stock, valued at approximately $62,223,401.95. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

BlackRock California Municipal Income Trust Trading Down 0.9 %

NYSE BFZ traded down $0.11 during trading hours on Tuesday, reaching $11.75. The company had a trading volume of 41,775 shares, compared to its average volume of 68,728. The stock has a 50-day moving average of $12.01 and a 200 day moving average of $11.90. BlackRock California Municipal Income Trust has a 1-year low of $9.89 and a 1-year high of $12.31.

BlackRock California Municipal Income Trust Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, November 1st. Stockholders of record on Tuesday, October 15th will be paid a $0.059 dividend. This represents a $0.71 annualized dividend and a dividend yield of 6.03%. The ex-dividend date is Tuesday, October 15th.

Institutional Trading of BlackRock California Municipal Income Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of BFZ. Farther Finance Advisors LLC purchased a new stake in shares of BlackRock California Municipal Income Trust during the third quarter worth approximately $170,000. B. Riley Wealth Advisors Inc. acquired a new stake in shares of BlackRock California Municipal Income Trust in the 1st quarter worth $193,000. Cypress Wealth Services LLC purchased a new stake in shares of BlackRock California Municipal Income Trust in the third quarter valued at about $250,000. Sanctuary Advisors LLC acquired a new position in shares of BlackRock California Municipal Income Trust during the second quarter worth about $509,000. Finally, Advisors Asset Management Inc. raised its holdings in BlackRock California Municipal Income Trust by 10.6% during the first 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.

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.