BlackRock California Municipal Income Trust (NYSE:BFZ) Major Shareholder Sells $230,618.43 in Stock

BlackRock California Municipal Income Trust (NYSE:BFZ) major shareholder Saba Capital Management, L.P. sold 21,777 shares of the stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $10.59, for a total transaction of $230,618.43. Following the sale, the insider directly owned 3,880,418 shares of the company’s stock, valued at approximately $41,093,626.62. This trade represents a 0.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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, August 8th, Saba Capital Management, L.P. sold 27,450 shares of BlackRock California Municipal Income Trust stock. The stock was sold at an average price of $10.58, for a total transaction of $290,421.00.
• On Thursday, August 7th, Saba Capital Management, L.P. sold 72,550 shares of BlackRock California Municipal Income Trust stock. The stock was sold at an average price of $10.61, for a total transaction of $769,755.50.
• On Wednesday, August 6th, Saba Capital Management, L.P. sold 67,985 shares of BlackRock California Municipal Income Trust stock. The shares were sold at an average price of $10.59, for a total transaction of $719,961.15.
• On Tuesday, August 5th, Saba Capital Management, L.P. sold 32,498 shares of BlackRock California Municipal Income Trust stock. The shares were sold at an average price of $10.56, for a total transaction of $343,178.88.
• On Monday, August 4th, Saba Capital Management, L.P. sold 30,440 shares of BlackRock California Municipal Income Trust stock. The stock was sold at an average price of $10.56, for a total value of $321,446.40.
• On Friday, August 1st, Saba Capital Management, L.P. sold 32,467 shares of BlackRock California Municipal Income Trust stock. The stock was sold at an average price of $10.49, for a total value of $340,578.83.
• On Thursday, July 31st, Saba Capital Management, L.P. sold 40,918 shares of BlackRock California Municipal Income Trust stock. The shares were sold at an average price of $10.43, for a total value of $426,774.74.
• On Thursday, July 31st, Saba Capital Management, L.P. sold 40,918 shares of BlackRock California Municipal Income Trust stock. The stock was sold at an average price of $10.43, for a total value of $426,774.74.
• On Wednesday, July 30th, Saba Capital Management, L.P. sold 32,984 shares of BlackRock California Municipal Income Trust stock. The shares were sold at an average price of $10.39, for a total transaction of $342,703.76.
• On Tuesday, July 29th, Saba Capital Management, L.P. sold 55,300 shares of BlackRock California Municipal Income Trust stock. The stock was sold at an average price of $10.39, for a total transaction of $574,567.00.

BlackRock California Municipal Income Trust Trading Down 0.1%

BFZ stock opened at $10.59 on Thursday. BlackRock California Municipal Income Trust has a 52 week low of $10.17 and a 52 week high of $12.23. The company has a fifty day simple moving average of $10.69 and a two-hundred day simple moving average of $10.87.

BlackRock California Municipal Income Trust Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, August 15th will be paid a dividend of $0.059 per share. This represents a c) annualized dividend and a yield of 6.7%. The ex-dividend date of this dividend is Friday, August 15th.

Institutional Investors Weigh In On BlackRock California Municipal Income Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC lifted its stake in shares of BlackRock California Municipal Income Trust by 8.0% in the 1st quarter. Farther Finance Advisors LLC now owns 15,206 shares of the company’s stock valued at $169,000 after purchasing an additional 1,122 shares during the last quarter. Elequin Capital LP raised its holdings in BlackRock California Municipal Income Trust by 47.1% during the 1st quarter. Elequin Capital LP now owns 6,866 shares of the company’s stock valued at $75,000 after buying an additional 2,200 shares during the period. Oder Investment Management LLC raised its holdings in BlackRock California Municipal Income Trust by 2.2% during the 1st quarter. Oder Investment Management LLC now owns 107,139 shares of the company’s stock valued at $1,176,000 after buying an additional 2,285 shares during the period. Atala Financial Inc lifted its position in BlackRock California Municipal Income Trust by 3.1% in the first quarter. Atala Financial Inc now owns 98,356 shares of the company’s stock worth $1,080,000 after buying an additional 3,003 shares during the last quarter. Finally, Shufro Rose & Co. LLC purchased a new position in BlackRock California Municipal Income Trust during the first quarter worth $110,000.

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.