BlackRock California Municipal Income Trust (NYSE:BFZ) Major Shareholder Sells $208,147.28 in Stock

BlackRock California Municipal Income Trust (NYSE:BFZ) major shareholder Saba Capital Management, L.P. sold 18,568 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $11.21, for a total transaction of $208,147.28. Following the transaction, the insider now owns 3,148,234 shares in the company, valued at approximately $35,291,703.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own more than 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. purchased 6,109 shares of BlackRock California Municipal Income Trust stock. The shares were purchased 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 purchased at an average cost of $11.82 per share, with a total value 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 shares were purchased at an average price of $11.77 per share, with a total value 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 cost of $11.68 per share, with a total value 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 shares were acquired at an average price of $11.95 per share, with a total value of $426,650.85.

BlackRock California Municipal Income Trust Stock Down 0.2 %

BlackRock California Municipal Income Trust stock opened at $11.57 on Thursday. The firm’s fifty day moving average price is $11.78 and its two-hundred day moving average price is $11.36. 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 declared a monthly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 15th will be given a $0.051 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $0.61 annualized dividend and a yield of 5.29%.

Institutional Trading of BlackRock California Municipal Income Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Saba Capital Management L.P. boosted its position in shares of 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 valued at $46,445,000 after buying an additional 310,016 shares during the last quarter. Advisors Asset Management Inc. grew its stake in shares of 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 worth $4,358,000 after acquiring an additional 13,578 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in shares of BlackRock California Municipal Income Trust by 6.5% in the third 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 lifted its position in shares of BlackRock California Municipal Income Trust by 1,207.5% during the second 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 in the last quarter. Finally, UBS Group AG boosted 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 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.