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

BlackRock California Municipal Income Trust (NYSE:BFZ) major shareholder Saba Capital Management, L.P. sold 18,568 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $11.21, for a total value of $208,147.28. Following the completion of the transaction, the insider now directly owns 3,148,234 shares in the company, valued at approximately $35,291,703.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Major 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 Monday, April 1st, Saba Capital Management, L.P. acquired 6,109 shares of BlackRock California Municipal Income Trust stock. The stock was bought at an average cost of $11.76 per share, for a total transaction of $71,841.84.
• On Thursday, March 28th, Saba Capital Management, L.P. acquired 40,094 shares of BlackRock California Municipal Income Trust stock. The stock was bought at an average cost 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 bought at an average cost 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 bought at an average cost 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 bought at an average cost of $11.95 per share, for a total transaction of $426,650.85.

BlackRock California Municipal Income Trust Trading Down 0.7 %

NYSE:BFZ opened at $11.48 on Tuesday. BlackRock California Municipal Income Trust has a 12-month low of $9.86 and a 12-month high of $12.31. The stock has a 50-day moving average price of $11.79 and a 200 day moving average price of $11.35.

BlackRock California Municipal Income Trust Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 15th will be given a dividend of $0.051 per share. This represents a $0.61 annualized dividend and a dividend yield of 5.33%. The ex-dividend date of this dividend is Friday, April 12th.

Institutional Trading of BlackRock California Municipal Income Trust

Institutional investors have recently made changes to their positions in the business. Advisors Asset Management Inc. grew its holdings in BlackRock California Municipal Income Trust by 12.2% during the 1st quarter. Advisors Asset Management Inc. now owns 414,201 shares of the company’s stock valued at $4,846,000 after buying an additional 45,028 shares in the last quarter. Stifel Financial Corp raised its holdings in BlackRock California Municipal Income Trust by 31.4% during the 1st quarter. Stifel Financial Corp now owns 26,659 shares of the company’s stock valued at $312,000 after buying an additional 6,374 shares during the period. Cetera Investment Advisers raised its holdings in BlackRock California Municipal Income Trust by 5.7% during the 1st quarter. Cetera Investment Advisers now owns 38,317 shares of the company’s stock valued at $448,000 after buying an additional 2,081 shares during the period. Rockefeller Capital Management L.P. purchased a new stake in BlackRock California Municipal Income Trust during the 1st quarter valued at $1,423,000. Finally, JPMorgan Chase & Co. raised its holdings in BlackRock California Municipal Income Trust by 186.8% during the 1st quarter. JPMorgan Chase & Co. now owns 23,660 shares of the company’s stock valued at $277,000 after buying an additional 15,410 shares during the period.

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.