BlackRock California Municipal Income Trust (NYSE:BFZ) Major Shareholder Sells $15,848.00 in Stock

BlackRock California Municipal Income Trust (NYSE:BFZ) major shareholder Saba Capital Management, L.P. sold 1,400 shares of the firm’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $11.32, for a total transaction of $15,848.00. Following the completion of the sale, the insider now owns 4,838,515 shares in the company, valued at $54,771,989.80. This represents a 0.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

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

• On Wednesday, February 5th, Saba Capital Management, L.P. sold 58,256 shares of BlackRock California Municipal Income Trust stock. The shares were sold at an average price of $11.34, for a total transaction of $660,623.04.
• 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 transaction of $89,766.79.
• On Friday, January 31st, Saba Capital Management, L.P. sold 20,717 shares of BlackRock California Municipal Income Trust stock. The shares were sold at an average price of $11.27, for a total value of $233,480.59.
• On Wednesday, January 29th, Saba Capital Management, L.P. sold 103,231 shares of BlackRock California Municipal Income Trust stock. The stock was 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 shares were 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 stock was sold at an average price of $11.32, for a total value of $448,045.60.

BlackRock California Municipal Income Trust Trading Up 0.3 %

BFZ stock opened at $11.31 on Tuesday. BlackRock California Municipal Income Trust has a 52 week low of $11.10 and a 52 week high of $12.23. The firm has a 50 day moving average of $11.38 and a 200 day moving average of $11.72.

BlackRock California Municipal Income Trust Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be issued a dividend of $0.059 per share. This represents a $0.71 dividend on an annualized basis and a dividend yield of 6.26%. The ex-dividend date of this dividend is Friday, February 14th.

Hedge Funds Weigh In On BlackRock California Municipal Income Trust

Several hedge funds have recently made changes to their positions in BFZ. Sanctuary Advisors LLC purchased a new stake in BlackRock California Municipal Income Trust during the 2nd quarter valued at about $509,000. Farther Finance Advisors LLC acquired a new stake in shares of BlackRock California Municipal Income Trust during the third quarter worth about $170,000. Trilogy Capital Inc. boosted its position in BlackRock California Municipal Income Trust by 292.8% in the third quarter. Trilogy Capital Inc. now owns 107,261 shares of the company’s stock valued at $1,297,000 after buying an additional 79,952 shares during the last quarter. Golden State Wealth Management LLC acquired a new position in BlackRock California Municipal Income Trust in the 4th quarter worth approximately $118,000. Finally, Wolverine Asset Management LLC purchased a new position in BlackRock California Municipal Income Trust during the 3rd quarter worth approximately $309,000.

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.