BlackRock California Municipal Income Trust (NYSE:BFZ) Major Shareholder Saba Capital Management, L.P. Purchases 23,774 Shares

BlackRock California Municipal Income Trust (NYSE:BFZ) major shareholder Saba Capital Management, L.P. bought 23,774 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were purchased at an average price of $11.77 per share, for a total transaction of $279,819.98. Following the transaction, the insider now directly owns 5,185,006 shares of the company’s stock, valued at approximately $61,027,520.62. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

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

• On Thursday, March 21st, Saba Capital Management, L.P. purchased 14,317 shares of BlackRock California Municipal Income Trust stock. The shares were 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. bought 35,703 shares of BlackRock California Municipal Income Trust stock. The stock was acquired at an average cost of $11.95 per share, for a total transaction of $426,650.85.

BlackRock California Municipal Income Trust Trading Up 0.3 %

Shares of NYSE:BFZ opened at $11.82 on Thursday. BlackRock California Municipal Income Trust has a 1-year low of $9.86 and a 1-year high of $12.31. The firm has a fifty day moving average price of $11.78 and a 200 day moving average price of $11.25.

BlackRock California Municipal Income Trust Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 15th will be paid a dividend of $0.051 per share. This represents a $0.61 annualized dividend and a yield of 5.18%. The ex-dividend date of this dividend is Thursday, March 14th.

Institutional Investors Weigh In On BlackRock California Municipal Income Trust

Several large investors have recently modified their holdings of BFZ. Napa Wealth Management acquired a new position in BlackRock California Municipal Income Trust in the 4th quarter valued at $380,000. Karpus Management Inc. acquired a new position in shares of BlackRock California Municipal Income Trust during the fourth quarter worth about $561,000. UBS Group AG raised its holdings in BlackRock California Municipal Income Trust by 102.5% during the fourth quarter. UBS Group AG now owns 141,776 shares of the company’s stock worth $1,706,000 after purchasing an additional 71,776 shares in the last quarter. Blue Bell Private Wealth Management LLC purchased a new stake in BlackRock California Municipal Income Trust in the 4th quarter valued at approximately $33,000. Finally, Raymond James & Associates raised its position in BlackRock California Municipal Income Trust by 146.4% in the fourth quarter. Raymond James & Associates now owns 46,279 shares of the company’s stock worth $557,000 after acquiring an additional 27,500 shares in the last quarter.

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.