Saba Capital Management, L.P. Acquires 50,569 Shares of BlackRock California Municipal Income Trust (NYSE:BFZ) Stock

BlackRock California Municipal Income Trust (NYSE:BFZ) major shareholder Saba Capital Management, L.P. acquired 50,569 shares of the firm’s stock in a transaction on Friday, April 11th. The shares were bought at an average cost of $10.23 per share, with a total value of $517,320.87. Following the completion of the acquisition, the insider now owns 4,802,929 shares in the company, valued at $49,133,963.67. This represents a 1.06 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Major 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 Thursday, February 20th, Saba Capital Management, L.P. sold 13,200 shares of BlackRock California Municipal Income Trust stock. The stock was sold at an average price of $11.36, for a total value of $149,952.00.
• On Monday, February 10th, Saba Capital Management, L.P. sold 5,404 shares of BlackRock California Municipal Income Trust stock. The stock was sold at an average price of $11.34, for a total value of $61,281.36.
• On Friday, February 7th, Saba Capital Management, L.P. sold 1,400 shares of BlackRock California Municipal Income Trust stock. The stock was sold at an average price of $11.32, for a total value 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 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 shares were 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 value 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 value of $448,045.60.

BlackRock California Municipal Income Trust Stock Performance

BlackRock California Municipal Income Trust stock opened at $10.48 on Wednesday. BlackRock California Municipal Income Trust has a one year low of $10.17 and a one year high of $12.23. The company has a 50-day simple moving average of $11.07 and a 200-day simple moving average of $11.42.

BlackRock California Municipal Income Trust Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th will be paid a $0.059 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $0.71 annualized dividend and a dividend yield of 6.76%.

Hedge Funds Weigh In On BlackRock California Municipal Income Trust

Hedge funds and other institutional investors have recently made changes to their positions in the business. Commonwealth Equity Services LLC boosted its position in BlackRock California Municipal Income Trust by 4.7% during the 4th quarter. Commonwealth Equity Services LLC now owns 22,902 shares of the company’s stock worth $257,000 after acquiring an additional 1,037 shares during the period. Raymond James Financial Inc. bought a new position in BlackRock California Municipal Income Trust in the 4th quarter valued at about $529,000. Golden State Wealth Management LLC acquired a new position in BlackRock California Municipal Income Trust during the 4th quarter valued at about $118,000. Atala Financial Inc bought a new stake in shares of BlackRock California Municipal Income Trust during the 4th quarter worth about $1,068,000. Finally, Landscape Capital Management L.L.C. acquired a new stake in shares of BlackRock California Municipal Income Trust in the 4th quarter worth approximately $147,000.

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.