Insider Selling: BlackRock California Municipal Income Trust (NYSE:BFZ) Major Shareholder Sells 18,965 Shares of Stock

BlackRock California Municipal Income Trust (NYSE:BFZ) major shareholder Saba Capital Management, L.P. sold 18,965 shares of BlackRock California Municipal Income Trust stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $10.46, for a total transaction of $198,373.90. Following the sale, the insider directly owned 3,591,901 shares in the company, valued at $37,571,284.46. The trade was a 0.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Friday, September 5th, Saba Capital Management, L.P. sold 348,451 shares of BlackRock California Municipal Income Trust stock. The stock was sold at an average price of $10.57, for a total value of $3,683,127.07.
• On Wednesday, September 3rd, Saba Capital Management, L.P. sold 27,906 shares of BlackRock California Municipal Income Trust stock. The shares were sold at an average price of $10.43, for a total value of $291,059.58.
• On Tuesday, September 2nd, Saba Capital Management, L.P. sold 21,765 shares of BlackRock California Municipal Income Trust stock. The shares were sold at an average price of $10.39, for a total transaction of $226,138.35.
• On Tuesday, August 26th, Saba Capital Management, L.P. sold 20,760 shares of BlackRock California Municipal Income Trust stock. The stock was sold at an average price of $10.36, for a total value of $215,073.60.
• On Monday, August 25th, Saba Capital Management, L.P. sold 18,180 shares of BlackRock California Municipal Income Trust stock. The stock was sold at an average price of $10.36, for a total value of $188,344.80.
• On Wednesday, August 20th, Saba Capital Management, L.P. sold 8,384 shares of BlackRock California Municipal Income Trust stock. The stock was sold at an average price of $10.35, for a total transaction of $86,774.40.
• On Tuesday, August 19th, Saba Capital Management, L.P. sold 51,242 shares of BlackRock California Municipal Income Trust stock. The shares were sold at an average price of $10.38, for a total transaction of $531,891.96.
• On Friday, August 15th, Saba Capital Management, L.P. sold 18,585 shares of BlackRock California Municipal Income Trust stock. The shares were sold at an average price of $10.52, for a total transaction of $195,514.20.
• On Thursday, August 14th, Saba Capital Management, L.P. sold 45,262 shares of BlackRock California Municipal Income Trust stock. The shares were sold at an average price of $10.57, for a total transaction of $478,419.34.
• On Wednesday, August 13th, Saba Capital Management, L.P. sold 51,268 shares of BlackRock California Municipal Income Trust stock. The stock was sold at an average price of $10.59, for a total transaction of $542,928.12.

BlackRock California Municipal Income Trust Stock Up 0.9%

BlackRock California Municipal Income Trust stock traded up $0.10 during mid-day trading on Monday, reaching $10.70. The company’s stock had a trading volume of 163,293 shares, compared to its average volume of 92,428. The business’s 50 day simple moving average is $10.56 and its 200 day simple moving average is $10.76. BlackRock California Municipal Income Trust has a 12 month low of $10.17 and a 12 month high of $12.23.

BlackRock California Municipal Income Trust Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be paid a dividend of $0.059 per share. The ex-dividend date is Monday, September 15th. This represents a c) annualized dividend and a dividend yield of 6.6%.

Institutional Trading of BlackRock California Municipal Income Trust

Several institutional investors have recently added to or reduced their stakes in the business. Jane Street Group LLC purchased a new position in BlackRock California Municipal Income Trust in the 4th quarter worth about $138,000. Ameriprise Financial Inc. increased its stake in shares of BlackRock California Municipal Income Trust by 247.4% during the fourth quarter. Ameriprise Financial Inc. now owns 69,484 shares of the company’s stock worth $778,000 after buying an additional 49,484 shares during the period. Bank of America Corp DE boosted its holdings in BlackRock California Municipal Income Trust by 128.9% in the fourth quarter. Bank of America Corp DE now owns 120,469 shares of the company’s stock valued at $1,349,000 after purchasing an additional 67,829 shares in the last quarter. Nomura Holdings Inc. acquired a new stake in shares of BlackRock California Municipal Income Trust in the 4th quarter worth approximately $150,000. Finally, Elequin Capital LP purchased a new position in shares of BlackRock California Municipal Income Trust during the 4th quarter worth about $52,000.

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.