BlackRock California Municipal Income Trust (NYSE:BFZ) Major Shareholder Sells $358,063.26 in Stock

BlackRock California Municipal Income Trust (NYSE:BFZ) major shareholder Saba Capital Management, L.P. sold 30,293 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $11.82, for a total transaction of $358,063.26. Following the completion of the transaction, the insider now directly owns 5,200,088 shares in the company, valued at $61,465,040.16. This trade represents a 0.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Major 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, October 28th, Saba Capital Management, L.P. sold 6,313 shares of BlackRock California Municipal Income Trust stock. The shares were sold at an average price of $11.89, for a total transaction of $75,061.57.

BlackRock California Municipal Income Trust Trading Up 0.3 %

BFZ opened at $11.69 on Friday. BlackRock California Municipal Income Trust has a one year low of $10.76 and a one year high of $12.31. The business’s 50-day simple moving average is $11.97 and its 200-day simple moving average is $11.91.

BlackRock California Municipal Income Trust Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be given a dividend of $0.059 per share. This represents a $0.71 annualized dividend and a yield of 6.06%. The ex-dividend date of this dividend is Friday, November 15th.

Institutional Investors Weigh In On BlackRock California Municipal Income Trust

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC purchased a new position in shares of BlackRock California Municipal Income Trust during the third quarter worth approximately $170,000. B. Riley Wealth Advisors Inc. acquired a new stake in BlackRock California Municipal Income Trust during the 1st quarter worth $193,000. Cypress Wealth Services LLC acquired a new stake in BlackRock California Municipal Income Trust during the 3rd quarter worth $250,000. Wolverine Asset Management LLC purchased a new position in BlackRock California Municipal Income Trust during the 3rd quarter worth $309,000. Finally, Sanctuary Advisors LLC acquired a new position in BlackRock California Municipal Income Trust in the second quarter valued at $509,000.

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.