BlackRock California Municipal Income Trust (NYSE:BFZ) Major Shareholder Saba Capital Management, L.P. Sells 13,200 Shares

Posted by Micah Haroldson on Feb 24th, 2025

BlackRock California Municipal Income Trust (NYSE:BFZ – Get Free Report) major shareholder Saba Capital Management, L.P. sold 13,200 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $11.36, for a total transaction of $149,952.00. Following the completion of the transaction, the insider now owns 4,752,360 shares in the company, valued at approximately $53,986,809.60. This trade represents a 0.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own 10% or more 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 Monday, February 10th, Saba Capital Management, L.P. sold 5,404 shares of BlackRock California Municipal Income Trust stock. The shares were sold at an average price of $11.34, for a total transaction 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 stock was sold at an average price of $11.34, for a total value 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 value 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 stock was 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 Down 0.1 %

NYSE:BFZ traded down $0.01 during trading hours on Monday, hitting $11.33. 24,949 shares of the stock were exchanged, compared to its average volume of 85,164. The company’s 50 day moving average is $11.30 and its two-hundred day moving average is $11.67. BlackRock California Municipal Income Trust has a twelve month low of $11.10 and a twelve month high of $12.23.

BlackRock California Municipal Income Trust Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be given a dividend of $0.059 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.71 dividend on an annualized basis and a dividend yield of 6.25%.

Hedge Funds Weigh In On BlackRock California Municipal Income Trust

Several hedge funds have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC bought a new stake in BlackRock California Municipal Income Trust during the 3rd quarter worth about $170,000. Golden State Wealth Management LLC acquired a new position in BlackRock California Municipal Income Trust in the fourth quarter valued at approximately $118,000. Wolverine Asset Management LLC acquired a new position in BlackRock California Municipal Income Trust in the third quarter valued at approximately $309,000. Trilogy Capital Inc. boosted its stake 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 during the last quarter. Finally, Absolute Investment Advisers LLC bought a new stake in shares of BlackRock California Municipal Income Trust during the 4th quarter valued at $387,000.

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.