BlackRock California Municipal Income Trust (NYSE:BFZ) Major Shareholder Sells $350,665.52 in Stock

BlackRock California Municipal Income Trust (NYSE:BFZ) major shareholder Saba Capital Management, L.P. sold 31,198 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $11.24, for a total transaction of $350,665.52. Following the transaction, the insider now directly owns 5,129,310 shares in the company, valued at $57,653,444.40. The trade was a 0.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 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 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 value of $1,153,090.27.
• 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 Price Performance

Shares of NYSE:BFZ opened at $11.26 on Friday. BlackRock California Municipal Income Trust has a 12-month low of $11.10 and a 12-month high of $12.23. The stock’s 50-day moving average price is $11.42 and its two-hundred day moving average price is $11.76.

BlackRock California Municipal Income Trust Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, February 3rd. Investors of record on Wednesday, January 15th will be issued a $0.059 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $0.71 dividend on an annualized basis and a yield of 6.29%.

Hedge Funds Weigh In On BlackRock California Municipal Income Trust

Large investors have recently bought and sold shares of the stock. Sanctuary Advisors LLC purchased a new stake in shares of BlackRock California Municipal Income Trust during the 2nd quarter valued at $509,000. Farther Finance Advisors LLC purchased a new stake in BlackRock California Municipal Income Trust during the third quarter valued at about $170,000. Trilogy Capital Inc. increased its stake in BlackRock California Municipal Income Trust by 292.8% during 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 during the last quarter. Cypress Wealth Services LLC purchased a new position in shares of BlackRock California Municipal Income Trust in the 3rd quarter worth about $250,000. Finally, Wolverine Asset Management LLC acquired a new position in shares of BlackRock California Municipal Income Trust in the 3rd quarter valued at about $309,000.

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.