Insider Selling: BlackRock California Municipal Income Trust (NYSE:BFZ) Major Shareholder Sells 43,937 Shares of Stock

BlackRock California Municipal Income Trust (NYSE:BFZ) major shareholder Saba Capital Management, L.P. sold 43,937 shares of the company’s stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $10.80, for a total transaction of $474,519.60. Following the completion of the sale, the insider owned 4,692,717 shares in the company, valued at approximately $50,681,343.60. This trade represents a 0.93% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Major shareholders that own more than 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 Friday, June 27th, Saba Capital Management, L.P. sold 31,062 shares of BlackRock California Municipal Income Trust stock. The shares were sold at an average price of $10.80, for a total transaction of $335,469.60.
• On Thursday, June 26th, Saba Capital Management, L.P. sold 35,213 shares of BlackRock California Municipal Income Trust stock. The shares were sold at an average price of $10.83, for a total transaction of $381,356.79.
• On Friday, April 11th, Saba Capital Management, L.P. bought 50,569 shares of BlackRock California Municipal Income Trust stock. The stock was bought at an average price of $10.23 per share, for a total transaction of $517,320.87.

BlackRock California Municipal Income Trust Stock Performance

Shares of BlackRock California Municipal Income Trust stock opened at $10.86 on Friday. BlackRock California Municipal Income Trust has a 1 year low of $10.17 and a 1 year high of $12.23. The firm’s 50-day simple moving average is $10.81 and its 200-day simple moving average is $11.01.

BlackRock California Municipal Income Trust Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, August 1st. Investors of record on Tuesday, July 15th will be paid a dividend of $0.059 per share. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $0.71 annualized dividend and a yield of 6.52%.

Institutional Investors Weigh In On BlackRock California Municipal Income Trust

Institutional investors and hedge funds have recently bought and sold shares of the business. Elequin Capital LP acquired a new stake in BlackRock California Municipal Income Trust during the fourth quarter worth about $52,000. Shufro Rose & Co. LLC acquired a new stake in BlackRock California Municipal Income Trust during the first quarter worth about $110,000. Jane Street Group LLC acquired a new stake in BlackRock California Municipal Income Trust during the fourth quarter worth about $138,000. Landscape Capital Management L.L.C. acquired a new stake in BlackRock California Municipal Income Trust during the fourth quarter worth about $147,000. Finally, Nomura Holdings Inc. acquired a new stake in BlackRock California Municipal Income Trust during the fourth quarter worth about $150,000.

BlackRock California Municipal Income Trust Company Profile

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.