Insider Selling: BlackRock California Municipal Income Trust (NYSE:BFZ) Major Shareholder Sells $61,281.36 in Stock

Posted by Eileen French on Feb 15th, 2025

BlackRock California Municipal Income Trust (NYSE:BFZ – Get Free Report) major shareholder Saba Capital Management, L.P. sold 5,404 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $11.34, for a total value of $61,281.36. Following the completion of the sale, the insider now owns 4,833,111 shares of the company’s stock, valued at $54,807,478.74. This trade represents a 0.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major 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 Friday, February 7th, Saba Capital Management, L.P. sold 1,400 shares of BlackRock California Municipal Income Trust stock. The stock was sold at an average price of $11.32, for a total value of $15,848.00.
On Wednesday, February 5th, Saba Capital Management, L.P. sold 58,256 shares of BlackRock California Municipal Income Trust stock. The shares were sold at an average price of $11.34, for a total transaction of $660,623.04.
On Monday, February 3rd, Saba Capital Management, L.P. sold 7,951 shares of BlackRock California Municipal Income Trust stock. The stock was sold at an average price of $11.29, for a total transaction of $89,766.79.
On Friday, January 31st, Saba Capital Management, L.P. sold 20,717 shares of BlackRock California Municipal Income Trust stock. The stock was sold at an average price of $11.27, for a total transaction of $233,480.59.
On Wednesday, January 29th, Saba Capital Management, L.P. sold 103,231 shares of BlackRock California Municipal Income Trust stock. The shares were sold at an average price of $11.17, for a total transaction of $1,153,090.27.
On Monday, January 27th, Saba Capital Management, L.P. sold 31,198 shares of BlackRock California Municipal Income Trust stock. The stock was sold at an average price of $11.24, for a total value of $350,665.52.
On Wednesday, January 22nd, Saba Capital Management, L.P. sold 39,580 shares of BlackRock California Municipal Income Trust stock. The shares were sold at an average price of $11.32, for a total value of $448,045.60.

BlackRock California Municipal Income Trust Price Performance

BFZ opened at $11.28 on Friday. BlackRock California Municipal Income Trust has a 52-week low of $11.10 and a 52-week high of $12.23. The business’s fifty day moving average is $11.35 and its 200-day moving average is $11.70.

BlackRock California Municipal Income Trust Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be paid a dividend of $0.059 per share. The ex-dividend date is Friday, February 14th. This represents a $0.71 dividend on an annualized basis and a yield of 6.28%.

Hedge Funds Weigh In On BlackRock California Municipal Income Trust

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Sanctuary Advisors LLC acquired a new stake in shares of BlackRock California Municipal Income Trust during the 2nd quarter worth approximately $509,000. Trilogy Capital Inc. lifted its stake in BlackRock California Municipal Income Trust by 292.8% during the third quarter. Trilogy Capital Inc. now owns 107,261 shares of the company’s stock worth $1,297,000 after purchasing an additional 79,952 shares during the last quarter. Farther Finance Advisors LLC acquired a new stake in shares of BlackRock California Municipal Income Trust in the 3rd quarter valued at $170,000. Wolverine Asset Management LLC bought a new position in shares of BlackRock California Municipal Income Trust in the 3rd quarter valued at $309,000. Finally, Advisors Asset Management Inc. raised its holdings in shares of BlackRock California Municipal Income Trust by 3.8% during the 3rd quarter. Advisors Asset Management Inc. now owns 463,700 shares of the company’s stock worth $5,606,000 after buying an additional 17,144 shares in the last quarter.

BlackRock California Municipal Income Trust Company Profile

(Get Free Report)

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.