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

Posted by John Perry on Feb 27th, 2025

BlackRock California Municipal Income Trust (NYSE:BFZ – Get Free Report) major shareholder Saba Capital Management, L.P. sold 13,200 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $11.36, for a total value of $149,952.00. Following the completion of the transaction, the insider now owns 4,752,360 shares in the company, valued at $53,986,809.60. This represents a 0.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Major 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 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 shares were 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 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 shares were sold at an average price of $11.27, for a total value 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 shares were 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 shares were sold at an average price of $11.32, for a total value of $448,045.60.

BlackRock California Municipal Income Trust Stock Up 0.1 %

Shares of BFZ opened at $11.41 on Thursday. The stock has a 50 day moving average of $11.29 and a 200 day moving average of $11.66. BlackRock California Municipal Income Trust has a 12 month low of $11.10 and a 12 month high of $12.23.

BlackRock California Municipal Income Trust Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be given a $0.059 dividend. This represents a $0.71 dividend on an annualized basis and a yield of 6.21%. The ex-dividend date is Friday, February 14th.

Institutional Trading of BlackRock California Municipal Income Trust

Large investors have recently bought and sold shares of the company. Elequin Capital LP purchased a new stake in BlackRock California Municipal Income Trust in the fourth quarter worth $52,000. Golden State Wealth Management LLC purchased a new stake in BlackRock California Municipal Income Trust in the fourth quarter worth $118,000. Jane Street Group LLC purchased a new stake in BlackRock California Municipal Income Trust in the fourth quarter worth $138,000. Landscape Capital Management L.L.C. purchased a new stake in BlackRock California Municipal Income Trust in the fourth quarter worth $147,000. Finally, Nomura Holdings Inc. purchased a new stake in BlackRock California Municipal Income Trust in the fourth quarter worth $150,000.

About BlackRock California Municipal Income Trust

(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.