BlackRock California Municipal Income Trust (NYSE:BFZ - Get Free Report) major shareholder Saba Capital Management, L.P. purchased 50,569 shares of BlackRock California Municipal Income Trust stock in a transaction on Friday, April 11th. The stock was bought at an average cost of $10.23 per share, with a total value of $517,320.87. Following the transaction, the insider now directly owns 4,802,929 shares of the company's stock, valued at approximately $49,133,963.67. The trade was a 1.06 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Large shareholders that own 10% or more 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 Thursday, February 20th, Saba Capital Management, L.P. sold 13,200 shares of BlackRock California Municipal Income Trust stock. The shares were sold at an average price of $11.36, for a total value of $149,952.00.
- On Monday, February 10th, Saba Capital Management, L.P. sold 5,404 shares of BlackRock California Municipal Income Trust stock. The stock was 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 shares were 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 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 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 stock was sold at an average price of $11.32, for a total value of $448,045.60.
BlackRock California Municipal Income Trust Stock Up 1.1 %
Shares of BFZ stock opened at $10.48 on Tuesday. BlackRock California Municipal Income Trust has a 1 year low of $10.17 and a 1 year high of $12.23. The firm's fifty day simple moving average is $11.08 and its 200 day simple moving average is $11.42.
BlackRock California Municipal Income Trust Announces Dividend
The business also recently disclosed a monthly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th will be given a dividend of $0.059 per share. This represents a $0.71 dividend on an annualized basis and a dividend yield of 6.76%. The ex-dividend date is Tuesday, April 15th.
Institutional Investors Weigh In On BlackRock California Municipal Income Trust
A number of institutional investors have recently added to or reduced their stakes in BFZ. Atala Financial Inc acquired a new position in BlackRock California Municipal Income Trust in the 4th quarter valued at approximately $1,068,000. Bank of America Corp DE raised its stake in shares of 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. Ameriprise Financial Inc. lifted its position in BlackRock California Municipal Income Trust by 247.4% in the fourth quarter. Ameriprise Financial Inc. now owns 69,484 shares of the company's stock worth $778,000 after purchasing an additional 49,484 shares during the period. Raymond James Financial Inc. acquired a new stake in BlackRock California Municipal Income Trust during the fourth quarter worth $529,000. Finally, Absolute Investment Advisers LLC bought a new stake in BlackRock California Municipal Income Trust in the 4th quarter valued at $387,000.
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.
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