BlackRock California Municipal Income Trust (NYSE:BFZ) Major Shareholder Saba Capital Management, L.P. Sells 6,313 Shares

BlackRock California Municipal Income Trust (NYSE:BFZ) major shareholder Saba Capital Management, L.P. sold 6,313 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $11.89, for a total value of $75,061.57. Following the transaction, the insider now owns 5,233,255 shares of the company’s stock, valued at $62,223,401.95. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

BlackRock California Municipal Income Trust Trading Down 1.4 %

BlackRock California Municipal Income Trust stock opened at $11.69 on Wednesday. The stock has a fifty day moving average price of $12.00 and a two-hundred day moving average price of $11.90. BlackRock California Municipal Income Trust has a 52-week low of $9.89 and a 52-week high of $12.31.

BlackRock California Municipal Income Trust Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 15th will be given a dividend of $0.059 per share. This represents a $0.71 dividend on an annualized basis and a dividend yield of 6.06%. The ex-dividend date of this dividend is Tuesday, October 15th.

Hedge Funds Weigh In On BlackRock California Municipal Income Trust

Several institutional investors have recently added to or reduced their stakes in BFZ. Farther Finance Advisors LLC bought a new stake in BlackRock California Municipal Income Trust during the third quarter worth about $170,000. B. Riley Wealth Advisors Inc. bought a new stake in BlackRock California Municipal Income Trust during the 1st quarter worth approximately $193,000. Cypress Wealth Services LLC bought a new stake in BlackRock California Municipal Income Trust during the 3rd quarter worth approximately $250,000. Sanctuary Advisors LLC acquired a new stake in BlackRock California Municipal Income Trust during the 2nd quarter valued at $509,000. Finally, Trilogy Capital Inc. raised its position in BlackRock California Municipal Income Trust by 292.8% in the 3rd quarter. Trilogy Capital Inc. now owns 107,261 shares of the company’s stock valued at $1,297,000 after purchasing an additional 79,952 shares during the last quarter.

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.