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 business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $11.89, for a total transaction of $75,061.57. Following the completion of the transaction, the insider now directly owns 5,233,255 shares of the company’s stock, valued at approximately $62,223,401.95. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

BlackRock California Municipal Income Trust Price Performance

BFZ opened at $11.69 on Wednesday. The company’s 50 day simple moving average is $12.00 and its 200-day simple moving average is $11.90. BlackRock California Municipal Income Trust has a one year low of $9.89 and a one year high of $12.31.

BlackRock California Municipal Income Trust Announces Dividend

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

Institutional Investors Weigh In On BlackRock California Municipal Income Trust

Hedge funds and other institutional investors have recently made changes to their positions in the company. B. Riley Wealth Advisors Inc. bought a new position in BlackRock California Municipal Income Trust in the first quarter valued at about $193,000. Sanctuary Advisors LLC bought a new stake in BlackRock California Municipal Income Trust during the 2nd quarter worth about $509,000. Trilogy Capital Inc. lifted its position in BlackRock California Municipal Income Trust by 292.8% during 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 period. Cypress Wealth Services LLC bought a new position in shares of BlackRock California Municipal Income Trust in the 3rd quarter valued at about $250,000. Finally, Advisors Asset Management Inc. grew its position in shares of BlackRock California Municipal Income Trust by 10.6% during the 1st quarter. Advisors Asset Management Inc. now owns 476,270 shares of the company’s stock worth $5,630,000 after buying an additional 45,611 shares during the period.

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.