Saba Capital Management, L.P. Purchases 14,317 Shares of BlackRock California Municipal Income Trust (NYSE:BFZ) Stock

BlackRock California Municipal Income Trust (NYSE:BFZ) major shareholder Saba Capital Management, L.P. bought 14,317 shares of BlackRock California Municipal Income Trust stock in a transaction that occurred on Thursday, March 21st. The shares were acquired at an average price of $11.68 per share, for a total transaction of $167,222.56. Following the acquisition, the insider now directly owns 5,144,048 shares in the company, valued at approximately $60,082,480.64. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Major shareholders that own 10% or more 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 Monday, March 25th, Saba Capital Management, L.P. bought 23,774 shares of BlackRock California Municipal Income Trust stock. The shares were acquired at an average price of $11.77 per share, for a total transaction of $279,819.98.
• On Tuesday, March 12th, Saba Capital Management, L.P. purchased 35,703 shares of BlackRock California Municipal Income Trust stock. The shares were purchased at an average cost of $11.95 per share, for a total transaction of $426,650.85.

BlackRock California Municipal Income Trust Stock Up 0.3 %

BlackRock California Municipal Income Trust stock opened at $11.82 on Thursday. BlackRock California Municipal Income Trust has a 12-month low of $9.86 and a 12-month high of $12.31. The firm’s fifty day moving average price is $11.78 and its 200 day moving average price is $11.25.

BlackRock California Municipal Income Trust Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 15th will be given a $0.051 dividend. This represents a $0.61 annualized dividend and a dividend yield of 5.18%. The ex-dividend date is Thursday, March 14th.

Institutional Investors Weigh In On BlackRock California Municipal Income Trust

Several hedge funds and other institutional investors have recently modified their holdings of BFZ. Saba Capital Management L.P. increased its position in shares of BlackRock California Municipal Income Trust by 7.4% in the 3rd quarter. Saba Capital Management L.P. now owns 4,513,628 shares of the company’s stock worth $46,445,000 after purchasing an additional 310,016 shares during the last quarter. Woodline Partners LP grew its position in shares of BlackRock California Municipal Income Trust by 1,207.5% during the 2nd quarter. Woodline Partners LP now owns 202,382 shares of the company’s stock valued at $2,400,000 after buying an additional 186,904 shares during the last quarter. Rockefeller Capital Management L.P. bought a new stake in shares of BlackRock California Municipal Income Trust during the 1st quarter valued at about $1,423,000. UBS Group AG grew its position in shares of BlackRock California Municipal Income Trust by 102.5% during the 4th quarter. UBS Group AG now owns 141,776 shares of the company’s stock valued at $1,706,000 after buying an additional 71,776 shares during the last quarter. Finally, Robinson Capital Management LLC bought a new stake in shares of BlackRock California Municipal Income Trust during the 3rd quarter valued at about $655,000.

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.