BlackRock California Municipal Income Trust (NYSE:BFZ) Major Shareholder Saba Capital Management, L.P. Purchases 6,109 Shares of Stock

BlackRock California Municipal Income Trust (NYSE:BFZGet Free Report) major shareholder Saba Capital Management, L.P. purchased 6,109 shares of the company’s stock in a transaction on Monday, April 1st. The stock was bought at an average price of $11.76 per share, for a total transaction of $71,841.84. Following the completion of the purchase, the insider now directly owns 5,231,209 shares of the company’s stock, valued at $61,519,017.84. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Large shareholders that own at least 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 Thursday, March 28th, Saba Capital Management, L.P. bought 40,094 shares of BlackRock California Municipal Income Trust stock. The shares were acquired at an average price of $11.82 per share, for a total transaction of $473,911.08.
  • On Monday, March 25th, Saba Capital Management, L.P. acquired 23,774 shares of BlackRock California Municipal Income Trust stock. The stock was purchased at an average price of $11.77 per share, for a total transaction of $279,819.98.
  • On Thursday, March 21st, Saba Capital Management, L.P. acquired 14,317 shares of BlackRock California Municipal Income Trust stock. The stock was purchased at an average price of $11.68 per share, for a total transaction of $167,222.56.
  • On Tuesday, March 12th, Saba Capital Management, L.P. acquired 35,703 shares of BlackRock California Municipal Income Trust stock. The stock was purchased at an average price of $11.95 per share, for a total transaction of $426,650.85.

BlackRock California Municipal Income Trust Price Performance

BlackRock California Municipal Income Trust stock opened at $11.77 on Thursday. BlackRock California Municipal Income Trust has a one year low of $9.86 and a one year high of $12.31. The business has a fifty day moving average of $11.80 and a two-hundred day moving average of $11.28.

BlackRock California Municipal Income Trust Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th will be issued a $0.051 dividend. This represents a $0.61 dividend on an annualized basis and a yield of 5.20%. The ex-dividend date of this dividend is Friday, April 12th.

Institutional Investors Weigh In On BlackRock California Municipal Income Trust

Hedge funds and other institutional investors have recently bought and sold shares of the business. Saba Capital Management L.P. raised its stake in shares of BlackRock California Municipal Income Trust by 7.4% during the 3rd 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. Advisors Asset Management Inc. raised its stake in BlackRock California Municipal Income Trust by 3.3% in the 3rd quarter. Advisors Asset Management Inc. now owns 423,566 shares of the company’s stock valued at $4,358,000 after purchasing an additional 13,578 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in BlackRock California Municipal Income Trust by 6.5% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 358,458 shares of the company’s stock valued at $3,689,000 after purchasing an additional 21,799 shares during the last quarter. Woodline Partners LP raised its stake in BlackRock California Municipal Income Trust by 1,207.5% in the 2nd quarter. Woodline Partners LP now owns 202,382 shares of the company’s stock valued at $2,400,000 after purchasing an additional 186,904 shares during the last quarter. Finally, UBS Group AG raised its stake in BlackRock California Municipal Income Trust by 102.5% in the 4th 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.

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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