Insider Selling: BlackRock California Municipal Income Trust (NYSE:BFZ) Major Shareholder Sells 13,200 Shares of Stock

BlackRock California Municipal Income Trust (NYSE:BFZ) major shareholder Saba Capital Management, L.P. sold 13,200 shares of BlackRock California Municipal Income Trust stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $11.36, for a total transaction of $149,952.00. Following the transaction, the insider now directly owns 4,752,360 shares in the company, valued at $53,986,809.60. This represents a 0.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large 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 Monday, February 10th, Saba Capital Management, L.P. sold 5,404 shares of BlackRock California Municipal Income Trust stock. The stock was sold at an average price of $11.34, for a total transaction 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 stock was sold at an average price of $11.32, for a total transaction 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 stock was sold at an average price of $11.34, for a total transaction 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 transaction 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 transaction 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 stock was sold at an average price of $11.32, for a total transaction of $448,045.60.

BlackRock California Municipal Income Trust Stock Performance

BFZ stock opened at $11.41 on Wednesday. The company’s 50 day moving average is $11.29 and its 200 day moving average is $11.66. BlackRock California Municipal Income Trust has a 1-year low of $11.10 and a 1-year high of $12.23.

BlackRock California Municipal Income Trust Announces Dividend

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Farther Finance Advisors LLC purchased a new stake in shares of BlackRock California Municipal Income Trust during the third quarter valued at approximately $170,000. Wolverine Asset Management LLC bought a new position in BlackRock California Municipal Income Trust in the third quarter worth $309,000. Advisors Asset Management Inc. raised its holdings in BlackRock California Municipal Income Trust by 3.8% in the third quarter. Advisors Asset Management Inc. now owns 463,700 shares of the company’s stock worth $5,606,000 after purchasing an additional 17,144 shares in the last quarter. Absolute Investment Advisers LLC bought a new position in BlackRock California Municipal Income Trust in the fourth quarter worth $387,000. Finally, Trilogy Capital Inc. raised its holdings in BlackRock California Municipal Income Trust by 1.3% in the fourth quarter. Trilogy Capital Inc. now owns 108,637 shares of the company’s stock worth $1,217,000 after purchasing an additional 1,376 shares in the last quarter.

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.