Insider Selling: BlackRock California Municipal Income Trust (NYSE:BFZ) Major Shareholder Sells $149,952.00 in Stock

Posted by John. R. Edwardson on Feb 27th, 2025

BlackRock California Municipal Income Trust (NYSE:BFZ – Get Free Report) major shareholder Saba Capital Management, L.P. sold 13,200 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $11.36, for a total value of $149,952.00. Following the completion of the sale, the insider now directly owns 4,752,360 shares of the company’s stock, valued at approximately $53,986,809.60. The trade was a 0.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Major shareholders that own 10% or more 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 10th, Saba Capital Management, L.P. sold 5,404 shares of BlackRock California Municipal Income Trust stock. The shares were sold at an average price of $11.34, for a total value of $61,281.36.
On Friday, February 7th, Saba Capital Management, L.P. sold 1,400 shares of BlackRock California Municipal Income Trust stock. The stock was sold at an average price of $11.32, for a total value of $15,848.00.
On Wednesday, February 5th, Saba Capital Management, L.P. sold 58,256 shares of BlackRock California Municipal Income Trust stock. The stock was sold at an average price of $11.34, for a total value 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 value 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 stock was 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 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 stock was sold at an average price of $11.32, for a total value of $448,045.60.

BlackRock California Municipal Income Trust Stock Up 0.1 %

NYSE BFZ opened at $11.41 on Thursday. The business has a 50 day simple moving average of $11.29 and a 200 day simple moving average of $11.66. 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 company also recently declared a monthly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be issued a $0.059 dividend. The ex-dividend date is Friday, February 14th. This represents a $0.71 annualized dividend and a yield of 6.21%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. boosted its holdings in 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 worth $5,606,000 after acquiring an additional 17,144 shares in the last quarter. Bank of America Corp DE boosted its holdings in BlackRock California Municipal Income Trust by 128.9% in the fourth quarter. Bank of America Corp DE now owns 120,469 shares of the company’s stock worth $1,349,000 after acquiring an additional 67,829 shares in the last quarter. Trilogy Capital Inc. boosted its holdings in BlackRock California Municipal Income Trust by 1.3% in the fourth quarter. Trilogy Capital Inc. now owns 108,637 shares of the company’s stock worth $1,217,000 after acquiring an additional 1,376 shares in the last quarter. Atala Financial Inc bought a new position in BlackRock California Municipal Income Trust in the fourth quarter worth approximately $1,068,000. Finally, Ameriprise Financial Inc. boosted its holdings in BlackRock California Municipal Income Trust by 247.4% in the fourth quarter. Ameriprise Financial Inc. now owns 69,484 shares of the company’s stock worth $778,000 after acquiring an additional 49,484 shares in the last quarter.

About BlackRock California Municipal Income Trust

(Get Free Report)

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.