BlackRock California Municipal Income Trust (NYSE:BFZ) Major Shareholder Sells $358,063.26 in Stock

BlackRock California Municipal Income Trust (NYSE:BFZ) major shareholder Saba Capital Management, L.P. sold 30,293 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $11.82, for a total value of $358,063.26. Following the completion of the transaction, the insider now directly owns 5,200,088 shares in the company, valued at approximately $61,465,040.16. The trade was a 0.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Large shareholders that own more than 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, October 28th, Saba Capital Management, L.P. sold 6,313 shares of BlackRock California Municipal Income Trust stock. The shares were sold at an average price of $11.89, for a total transaction of $75,061.57.

BlackRock California Municipal Income Trust Stock Performance

Shares of BlackRock California Municipal Income Trust stock opened at $11.69 on Friday. BlackRock California Municipal Income Trust has a one year low of $10.76 and a one year high of $12.31. The firm has a fifty day moving average of $11.97 and a two-hundred day moving average of $11.91.

BlackRock California Municipal Income Trust Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be issued a dividend of $0.059 per share. The ex-dividend date is Friday, November 15th. This represents a $0.71 annualized dividend and a yield of 6.06%.

Institutional Investors Weigh In On BlackRock California Municipal Income Trust

A number of institutional investors have recently added to or reduced their stakes in BFZ. Advisors Asset Management Inc. raised its stake in shares of BlackRock California Municipal Income Trust by 10.6% during the 1st quarter. Advisors Asset Management Inc. now owns 476,270 shares of the company’s stock worth $5,630,000 after buying an additional 45,611 shares in the last quarter. Trilogy Capital Inc. raised its position in BlackRock California Municipal Income Trust by 292.8% in the third quarter. Trilogy Capital Inc. now owns 107,261 shares of the company’s stock worth $1,297,000 after acquiring an additional 79,952 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in BlackRock California Municipal Income Trust in the second quarter worth $509,000. Wolverine Asset Management LLC acquired a new stake in BlackRock California Municipal Income Trust in the third quarter valued at $309,000. Finally, Cypress Wealth Services LLC purchased a new stake in shares of BlackRock California Municipal Income Trust during the 3rd quarter worth $250,000.

BlackRock California Municipal Income Trust Company Profile

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.