BlackRock California Municipal Income Trust (NYSE:BFZ) Major Shareholder Sells $149,952.00 in Stock

Posted by Cynthia Vaughn on Feb 25th, 2025

BlackRock California Municipal Income Trust (NYSE:BFZ – Get Free Report) major shareholder Saba Capital Management, L.P. sold 13,200 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $11.36, for a total value of $149,952.00. Following the completion of the transaction, the insider now directly owns 4,752,360 shares in the company, valued at approximately $53,986,809.60. This represents a 0.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Major shareholders that own 10% or more 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, February 10th, Saba Capital Management, L.P. sold 5,404 shares of BlackRock California Municipal Income Trust stock. The shares were sold at an average price of $11.34, for a total value of $61,281.36.
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 transaction 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 stock was 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 shares were 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 shares were 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 stock was sold at an average price of $11.17, for a total value 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 shares were 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 Trading Down 0.0 %

Shares of BFZ stock opened at $11.34 on Tuesday. BlackRock California Municipal Income Trust has a 12 month low of $11.10 and a 12 month high of $12.23. The stock has a 50-day moving average price of $11.30 and a 200 day moving average price of $11.67.

BlackRock California Municipal Income Trust Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be paid a $0.059 dividend. This represents a $0.71 annualized dividend and a dividend yield of 6.25%. The ex-dividend date is Friday, February 14th.

Institutional Investors Weigh In On BlackRock California Municipal Income Trust

A number of institutional investors and hedge funds have recently modified their holdings of BFZ. Elequin Capital LP bought a new position in BlackRock California Municipal Income Trust in the fourth quarter valued at approximately $52,000. Golden State Wealth Management LLC acquired a new position in shares of BlackRock California Municipal Income Trust in the 4th quarter valued at $118,000. Jane Street Group LLC bought a new position in shares of BlackRock California Municipal Income Trust in the 4th quarter worth $138,000. Landscape Capital Management L.L.C. acquired a new stake in shares of BlackRock California Municipal Income Trust during the fourth quarter worth $147,000. Finally, Nomura Holdings Inc. bought a new stake in BlackRock California Municipal Income Trust in the fourth quarter valued at about $150,000.

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.