BlackRock California Municipal Income Trust (NYSE:BFZ) Major Shareholder Saba Capital Management, L.P. Sells 5,404 Shares

BlackRock California Municipal Income Trust (NYSE:BFZ) major shareholder Saba Capital Management, L.P. sold 5,404 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $11.34, for a total value of $61,281.36. Following the transaction, the insider now directly owns 4,833,111 shares of the company’s stock, valued at approximately $54,807,478.74. The trade was a 0.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Friday, February 7th, Saba Capital Management, L.P. sold 1,400 shares of BlackRock California Municipal Income Trust stock. The shares were sold at an average price of $11.32, for a total transaction 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 shares were 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 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 transaction 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 transaction of $448,045.60.

BlackRock California Municipal Income Trust Stock Performance

Shares of BFZ stock traded down $0.09 during mid-day trading on Wednesday, hitting $11.22. The company’s stock had a trading volume of 54,992 shares, compared to its average volume of 86,008. The company’s fifty day simple moving average is $11.38 and its 200-day simple moving average is $11.71. BlackRock California Municipal Income Trust has a 52 week low of $11.10 and a 52 week high of $12.23.

BlackRock California Municipal Income Trust Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be paid a $0.059 dividend. This represents a $0.71 annualized dividend and a yield of 6.31%. The ex-dividend date is Friday, February 14th.

Institutional Trading of BlackRock California Municipal Income Trust

Several large investors have recently modified their holdings of the stock. Golden State Wealth Management LLC acquired a new position in shares of BlackRock California Municipal Income Trust during the 4th quarter valued at $118,000. Farther Finance Advisors LLC acquired a new position in shares of BlackRock California Municipal Income Trust during the third quarter valued at about $170,000. Commonwealth Equity Services LLC raised its holdings in shares of BlackRock California Municipal Income Trust by 4.7% during the fourth quarter. Commonwealth Equity Services LLC now owns 22,902 shares of the company’s stock valued at $257,000 after purchasing an additional 1,037 shares during the period. Wolverine Asset Management LLC bought a new position in shares of BlackRock California Municipal Income Trust during the 3rd quarter worth about $309,000. Finally, Absolute Investment Advisers LLC acquired a new stake in shares of BlackRock California Municipal Income Trust in the 4th quarter valued at about $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.