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 shares were sold at an average price of $11.32, for a total transaction of $448,045.60. Following the completion of the transaction, the insider now owns 5,160,508 shares of the company’s stock, valued at $58,416,950.56. This represents a 0.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 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 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 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 shares were sold at an average price of $11.89, for a total value of $75,061.57.

BlackRock California Municipal Income Trust Price Performance

Shares of BFZ opened at $11.25 on Friday. BlackRock California Municipal Income Trust has a 52-week low of $11.10 and a 52-week high of $12.23. The stock’s 50-day simple moving average is $11.44 and its 200 day simple moving average is $11.78.

BlackRock California Municipal Income Trust Announces Dividend

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

Hedge Funds Weigh In On BlackRock California Municipal Income Trust

Several hedge funds have recently bought and sold shares of the company. Farther Finance Advisors LLC bought a new position in BlackRock California Municipal Income Trust in the 3rd quarter valued at $170,000. Cypress Wealth Services LLC purchased a new stake in shares of BlackRock California Municipal Income Trust in the third quarter worth $250,000. Wolverine Asset Management LLC bought a new stake in BlackRock California Municipal Income Trust during the third quarter valued at $309,000. Absolute Investment Advisers LLC purchased a new position in BlackRock California Municipal Income Trust during the fourth quarter worth about $387,000. Finally, Sanctuary Advisors LLC bought a new position in BlackRock California Municipal Income Trust in the 2nd quarter worth about $509,000.

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.