Saba Capital Management, L.P. Sells 18,180 Shares of BlackRock California Municipal Income Trust (NYSE:BFZ) Stock

BlackRock California Municipal Income Trust (NYSE:BFZ) major shareholder Saba Capital Management, L.P. sold 18,180 shares of the business’s stock in a transaction on Monday, August 25th. The shares were sold at an average price of $10.36, for a total transaction of $188,344.80. Following the completion of the sale, the insider directly owned 3,687,497 shares in the company, valued at $38,202,468.92. This trade represents a 0.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• On Tuesday, August 26th, Saba Capital Management, L.P. sold 20,760 shares of BlackRock California Municipal Income Trust stock. The shares were sold at an average price of $10.36, for a total transaction of $215,073.60.
• On Wednesday, August 20th, Saba Capital Management, L.P. sold 8,384 shares of BlackRock California Municipal Income Trust stock. The shares were sold at an average price of $10.35, for a total transaction of $86,774.40.
• On Tuesday, August 19th, Saba Capital Management, L.P. sold 51,242 shares of BlackRock California Municipal Income Trust stock. The shares were sold at an average price of $10.38, for a total transaction of $531,891.96.
• On Friday, August 15th, Saba Capital Management, L.P. sold 18,585 shares of BlackRock California Municipal Income Trust stock. The shares were sold at an average price of $10.52, for a total transaction of $195,514.20.
• On Thursday, August 14th, Saba Capital Management, L.P. sold 45,262 shares of BlackRock California Municipal Income Trust stock. The shares were sold at an average price of $10.57, for a total transaction of $478,419.34.
• On Wednesday, August 13th, Saba Capital Management, L.P. sold 51,268 shares of BlackRock California Municipal Income Trust stock. The shares were sold at an average price of $10.59, for a total transaction of $542,928.12.
• On Monday, August 11th, Saba Capital Management, L.P. sold 21,777 shares of BlackRock California Municipal Income Trust stock. The shares were sold at an average price of $10.59, for a total transaction of $230,618.43.
• On Friday, August 8th, Saba Capital Management, L.P. sold 27,450 shares of BlackRock California Municipal Income Trust stock. The shares were sold at an average price of $10.58, for a total transaction of $290,421.00.
• On Thursday, August 7th, Saba Capital Management, L.P. sold 72,550 shares of BlackRock California Municipal Income Trust stock. The shares were sold at an average price of $10.61, for a total transaction of $769,755.50.
• On Wednesday, August 6th, Saba Capital Management, L.P. sold 67,985 shares of BlackRock California Municipal Income Trust stock. The shares were sold at an average price of $10.59, for a total transaction of $719,961.15.

BlackRock California Municipal Income Trust Stock Performance

Shares of NYSE:BFZ opened at $10.38 on Thursday. BlackRock California Municipal Income Trust has a 52 week low of $10.17 and a 52 week high of $12.23. The company’s fifty day moving average is $10.60 and its 200-day moving average is $10.81.

BlackRock California Municipal Income Trust Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, August 15th will be given a dividend of $0.059 per share. The ex-dividend date is Friday, August 15th. This represents a c) annualized dividend and a yield of 6.8%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in BFZ. Raymond James Financial Inc. acquired a new position in BlackRock California Municipal Income Trust during the 4th quarter worth about $529,000. Jane Street Group LLC acquired a new position in BlackRock California Municipal Income Trust during the 4th quarter worth about $138,000. Ameriprise Financial Inc. lifted its position in BlackRock California Municipal Income Trust by 247.4% during the 4th quarter. Ameriprise Financial Inc. now owns 69,484 shares of the company’s stock worth $778,000 after buying an additional 49,484 shares in the last quarter. Bank of America Corp DE lifted its position in BlackRock California Municipal Income Trust by 128.9% during the 4th quarter. Bank of America Corp DE now owns 120,469 shares of the company’s stock worth $1,349,000 after buying an additional 67,829 shares in the last quarter. Finally, Nomura Holdings Inc. acquired a new position in BlackRock California Municipal Income Trust during the 4th quarter worth about $150,000.

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.