Insider Selling: BlackRock California Municipal Income Trust (NYSE:BFZ) Major Shareholder Sells $448,045.60 in Stock

BlackRock California Municipal Income Trust (NYSE:BFZ) major shareholder Saba Capital Management, L.P. sold 39,580 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $11.32, for a total value of $448,045.60. Following the completion of the transaction, the insider now directly owns 5,160,508 shares in the company, valued at $58,416,950.56. This trade represents a 0.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own 10% or more 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, November 8th, Saba Capital Management, L.P. sold 30,293 shares of BlackRock California Municipal Income Trust stock. The shares were sold at an average price of $11.82, for a total value of $358,063.26.
• On Monday, October 28th, Saba Capital Management, L.P. sold 6,313 shares of BlackRock California Municipal Income Trust stock. The shares were sold at an average price of $11.89, for a total value of $75,061.57.

BlackRock California Municipal Income Trust Price Performance

NYSE:BFZ opened at $11.25 on Friday. The business’s 50-day moving average is $11.44 and its two-hundred day moving average is $11.78. 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 Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Wednesday, January 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 6.29%. The ex-dividend date of this dividend is Wednesday, January 15th.

Institutional Trading of BlackRock California Municipal Income Trust

Hedge funds and other institutional investors have recently modified their holdings of the business. Farther Finance Advisors LLC purchased a new stake in shares of BlackRock California Municipal Income Trust during the third quarter worth about $170,000. Cypress Wealth Services LLC purchased a new stake in shares of BlackRock California Municipal Income Trust during the third quarter worth about $250,000. Wolverine Asset Management LLC purchased a new stake in shares of BlackRock California Municipal Income Trust during the third quarter worth about $309,000. Absolute Investment Advisers LLC purchased a new stake in shares of BlackRock California Municipal Income Trust during the fourth quarter worth about $387,000. Finally, Sanctuary Advisors LLC purchased a new stake in shares of BlackRock California Municipal Income Trust during the second quarter worth about $509,000.

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.