BlackRock California Municipal Income Trust (NYSE:BFZ) Major Shareholder Sells $1,153,090.27 in Stock

BlackRock California Municipal Income Trust (NYSE:BFZ) major shareholder Saba Capital Management, L.P. sold 103,231 shares of the stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $11.17, for a total transaction of $1,153,090.27. Following the transaction, the insider now owns 5,026,079 shares of the company’s stock, valued at $56,141,302.43. This trade represents a 2.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 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 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 transaction 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.
• On Friday, November 8th, Saba Capital Management, L.P. sold 30,293 shares of BlackRock California Municipal Income Trust stock. The shares were sold at an average price of $11.82, for a total value of $358,063.26.

BlackRock California Municipal Income Trust Trading Up 0.4 %

Shares of BlackRock California Municipal Income Trust stock opened at $11.26 on Friday. The stock has a 50 day moving average price of $11.42 and a 200-day moving average price of $11.76. 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 Announces Dividend

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

Institutional Investors Weigh In On BlackRock California Municipal Income Trust

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Golden State Wealth Management LLC bought a new position in BlackRock California Municipal Income Trust during the 4th quarter valued at about $118,000. Farther Finance Advisors LLC purchased a new position in shares of BlackRock California Municipal Income Trust during the third quarter valued at approximately $170,000. Cypress Wealth Services LLC bought a new position in shares of BlackRock California Municipal Income Trust during the third quarter valued at approximately $250,000. Wolverine Asset Management LLC purchased a new stake in shares of BlackRock California Municipal Income Trust in the third quarter worth approximately $309,000. Finally, Absolute Investment Advisers LLC bought a new stake in shares of BlackRock California Municipal Income Trust during the 4th quarter worth approximately $387,000.

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.