Saba Capital Management, L.P. Purchases 14,317 Shares of BlackRock California Municipal Income Trust (NYSE:BFZ) Stock

BlackRock California Municipal Income Trust (NYSE:BFZGet Free Report) major shareholder Saba Capital Management, L.P. purchased 14,317 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was purchased at an average cost of $11.68 per share, for a total transaction of $167,222.56. Following the purchase, the insider now directly owns 5,144,048 shares in the company, valued at $60,082,480.64. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Large shareholders that own at least 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 Tuesday, March 12th, Saba Capital Management, L.P. purchased 35,703 shares of BlackRock California Municipal Income Trust stock. The stock was purchased at an average cost of $11.95 per share, for a total transaction of $426,650.85.

BlackRock California Municipal Income Trust Price Performance

BFZ opened at $11.78 on Wednesday. The business’s 50-day moving average price is $11.78 and its two-hundred day moving average price is $11.25. BlackRock California Municipal Income Trust has a 1 year low of $9.86 and a 1 year high of $12.31.

BlackRock California Municipal Income Trust Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 15th will be issued a $0.051 dividend. This represents a $0.61 annualized dividend and a dividend yield of 5.20%. The ex-dividend date of this dividend is Thursday, March 14th.

Hedge Funds Weigh In On BlackRock California Municipal Income Trust

Several hedge funds have recently modified their holdings of the stock. Saba Capital Management L.P. increased its position in BlackRock California Municipal Income Trust by 7.4% during the third quarter. Saba Capital Management L.P. now owns 4,513,628 shares of the company’s stock worth $46,445,000 after buying an additional 310,016 shares during the last quarter. Woodline Partners LP increased its position in BlackRock California Municipal Income Trust by 1,207.5% during the second quarter. Woodline Partners LP now owns 202,382 shares of the company’s stock worth $2,400,000 after buying an additional 186,904 shares during the last quarter. Rockefeller Capital Management L.P. acquired a new position in shares of BlackRock California Municipal Income Trust in the first quarter valued at approximately $1,423,000. UBS Group AG grew its position in shares of BlackRock California Municipal Income Trust by 102.5% in the fourth quarter. UBS Group AG now owns 141,776 shares of the company’s stock valued at $1,706,000 after purchasing an additional 71,776 shares during the last quarter. Finally, Robinson Capital Management LLC acquired a new position in shares of BlackRock California Municipal Income Trust in the third quarter valued at approximately $655,000.

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.

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Insider Buying and Selling by Quarter for BlackRock California Municipal Income Trust (NYSE:BFZ)

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