Saba Capital Management, L.P. Buys 40,094 Shares of BlackRock California Municipal Income Trust (NYSE:BFZ) Stock

BlackRock California Municipal Income Trust (NYSE:BFZGet Free Report) major shareholder Saba Capital Management, L.P. acquired 40,094 shares of BlackRock California Municipal Income Trust stock in a transaction on Thursday, March 28th. The stock was acquired at an average price of $11.82 per share, with a total value of $473,911.08. Following the purchase, the insider now directly owns 5,225,100 shares in the company, valued at $61,760,682. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Major 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 Monday, March 25th, Saba Capital Management, L.P. purchased 23,774 shares of BlackRock California Municipal Income Trust stock. The shares were bought at an average price of $11.77 per share, with a total value of $279,819.98.
  • On Thursday, March 21st, Saba Capital Management, L.P. acquired 14,317 shares of BlackRock California Municipal Income Trust stock. The stock was bought at an average cost of $11.68 per share, for a total transaction of $167,222.56.
  • On Tuesday, March 12th, Saba Capital Management, L.P. bought 35,703 shares of BlackRock California Municipal Income Trust stock. The shares were bought at an average cost of $11.95 per share, with a total value of $426,650.85.

BlackRock California Municipal Income Trust Price Performance

NYSE:BFZ opened at $11.83 on Wednesday. BlackRock California Municipal Income Trust has a 12 month low of $9.86 and a 12 month high of $12.31. The firm’s 50 day moving average is $11.80 and its 200 day moving average is $11.28.

BlackRock California Municipal Income Trust Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were paid a $0.051 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.61 annualized dividend and a dividend yield of 5.18%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Advisors Asset Management Inc. increased its holdings in BlackRock California Municipal Income Trust by 12.2% in the 1st quarter. Advisors Asset Management Inc. now owns 414,201 shares of the company’s stock worth $4,846,000 after acquiring an additional 45,028 shares during the last quarter. Stifel Financial Corp increased its stake in shares of BlackRock California Municipal Income Trust by 31.4% in the first quarter. Stifel Financial Corp now owns 26,659 shares of the company’s stock worth $312,000 after purchasing an additional 6,374 shares in the last quarter. Cetera Investment Advisers raised its position in shares of BlackRock California Municipal Income Trust by 5.7% in the first quarter. Cetera Investment Advisers now owns 38,317 shares of the company’s stock valued at $448,000 after purchasing an additional 2,081 shares during the period. Rockefeller Capital Management L.P. purchased a new stake in shares of BlackRock California Municipal Income Trust during the 1st quarter valued at approximately $1,423,000. Finally, JPMorgan Chase & Co. boosted its holdings in BlackRock California Municipal Income Trust by 186.8% in the 1st quarter. JPMorgan Chase & Co. now owns 23,660 shares of the company’s stock worth $277,000 after buying an additional 15,410 shares during the period.

BlackRock California Municipal Income Trust Company Profile

(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.

See Also

Insider Buying and Selling by Quarter for BlackRock California Municipal Income Trust (NYSE:BFZ)

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