Saba Capital Management, L.P. Sells 18,568 Shares of BlackRock California Municipal Income Trust (NYSE:BFZ) Stock

BlackRock California Municipal Income Trust (NYSE:BFZ) major shareholder Saba Capital Management, L.P. sold 18,568 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $11.21, for a total transaction of $208,147.28. Following the completion of the sale, the insider now owns 3,148,234 shares in the company, valued at $35,291,703.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• On Monday, April 1st, Saba Capital Management, L.P. purchased 6,109 shares of BlackRock California Municipal Income Trust stock. The stock was acquired at an average price of $11.76 per share, for a total transaction of $71,841.84.
• On Thursday, March 28th, Saba Capital Management, L.P. purchased 40,094 shares of BlackRock California Municipal Income Trust stock. The stock was 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. purchased 23,774 shares of BlackRock California Municipal Income Trust stock. The stock was acquired 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. purchased 14,317 shares of BlackRock California Municipal Income Trust stock. The stock was acquired 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. purchased 35,703 shares of BlackRock California Municipal Income Trust stock. The stock was acquired at an average price of $11.95 per share, for a total transaction of $426,650.85.

BlackRock California Municipal Income Trust Stock Performance

NYSE BFZ opened at $11.59 on Wednesday. The stock’s 50-day moving average price is $11.78 and its two-hundred day moving average price is $11.35. 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 firm also recently announced a monthly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th will be paid a dividend of $0.051 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $0.61 annualized dividend and a yield of 5.28%.

Hedge Funds Weigh In On BlackRock California Municipal Income Trust

Institutional investors and hedge funds have recently bought and sold shares of the business. Clough Capital Partners L P grew its stake in shares of BlackRock California Municipal Income Trust by 175.5% in the 3rd quarter. Clough Capital Partners L P now owns 34,536 shares of the company’s stock valued at $355,000 after buying an additional 22,000 shares in the last quarter. Oder Investment Management LLC grew its stake in shares of BlackRock California Municipal Income Trust by 2.4% in the 3rd quarter. Oder Investment Management LLC now owns 122,120 shares of the company’s stock valued at $1,257,000 after buying an additional 2,820 shares in the last quarter. Saba Capital Management L.P. boosted 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 purchasing an additional 310,016 shares during the period. Advisors Asset Management Inc. grew its holdings in BlackRock California Municipal Income Trust by 3.3% during the third 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. Finally, Raymond James & Associates grew its holdings in BlackRock California Municipal Income Trust by 60.5% during the third quarter. Raymond James & Associates now owns 18,779 shares of the company’s stock valued at $193,000 after purchasing an additional 7,079 shares during the last quarter.

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.