BlackRock California Municipal Income Trust (NYSE:BFZ) Major Shareholder Sells $15,848.00 in Stock

Posted by Matthew Tipps on Feb 12th, 2025

BlackRock California Municipal Income Trust (NYSE:BFZ – Get Free Report) major shareholder Saba Capital Management, L.P. sold 1,400 shares of the firm’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $11.32, for a total transaction of $15,848.00. Following the completion of the sale, the insider now owns 4,838,515 shares of the company’s stock, valued at $54,771,989.80. This trade represents a 0.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own at least 10% 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 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 transaction 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 transaction 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 stock was sold at an average price of $11.27, for a total transaction 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 shares were 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 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 shares were sold at an average price of $11.32, for a total transaction of $448,045.60.

BlackRock California Municipal Income Trust Stock Performance

BlackRock California Municipal Income Trust stock opened at $11.31 on Wednesday. BlackRock California Municipal Income Trust has a 1 year low of $11.10 and a 1 year high of $12.23. The firm has a 50 day moving average price of $11.38 and a 200 day moving average price of $11.71.

BlackRock California Municipal Income Trust Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be paid a dividend of $0.059 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.71 annualized dividend and a yield of 6.26%.

Institutional Investors Weigh In On BlackRock California Municipal Income Trust

Institutional investors have recently bought and sold shares of the business. Advisors Asset Management Inc. boosted its stake in shares of BlackRock California Municipal Income Trust by 3.8% in the third quarter. Advisors Asset Management Inc. now owns 463,700 shares of the company’s stock valued at $5,606,000 after purchasing an additional 17,144 shares during the period. Trilogy Capital Inc. raised its holdings in BlackRock California Municipal Income Trust by 1.3% in the fourth quarter. Trilogy Capital Inc. now owns 108,637 shares of the company’s stock valued at $1,217,000 after acquiring an additional 1,376 shares in the last quarter. Atala Financial Inc acquired a new stake in BlackRock California Municipal Income Trust in the fourth quarter valued at $1,068,000. Raymond James Financial Inc. acquired a new stake in BlackRock California Municipal Income Trust in the fourth quarter valued at $529,000. Finally, Sanctuary Advisors LLC acquired a new stake in BlackRock California Municipal Income Trust in the second quarter valued at $509,000.

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.