Insider Buying: BlackRock California Municipal Income Trust (NYSE:BFZ) Major Shareholder Acquires 10,434 Shares of Stock

BlackRock California Municipal Income Trust (NYSE:BFZ) major shareholder Saba Capital Management, L.P. acquired 10,434 shares of the business’s stock in a transaction dated Thursday, September 14th. The shares were acquired at an average cost of $10.92 per share, with a total value of $113,939.28. Following the acquisition, the insider now directly owns 4,305,488 shares of the company’s stock, valued at approximately $47,015,928.96. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own at least 10% 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 Tuesday, September 12th, Saba Capital Management, L.P. purchased 30,073 shares of BlackRock California Municipal Income Trust stock. The shares were bought at an average price of $10.95 per share, for a total transaction of $329,299.35.

BlackRock California Municipal Income Trust Stock Up 0.3 %

BFZ stock traded up $0.03 on Monday, reaching $10.85. The company’s stock had a trading volume of 28,009 shares, compared to its average volume of 76,910. The company has a fifty day moving average price of $11.39. BlackRock California Municipal Income Trust has a 12-month low of $10.03 and a 12-month high of $12.10.

BlackRock California Municipal Income Trust Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be paid a $0.039 dividend. This represents a $0.47 dividend on an annualized basis and a yield of 4.31%. The ex-dividend date of this dividend is Thursday, September 14th.

Hedge Funds Weigh In On BlackRock California Municipal Income Trust

Hedge funds have recently added to or reduced their stakes in the company. Sit Investment Associates Inc. bought a new stake in shares of BlackRock California Municipal Income Trust in the second quarter worth $5,298,000. Woodline Partners LP boosted its stake in shares of BlackRock California Municipal Income Trust by 1,207.5% during the 2nd quarter. Woodline Partners LP now owns 202,382 shares of the company’s stock worth $2,400,000 after acquiring an additional 186,904 shares during the last quarter. Rockefeller Capital Management L.P. bought a new stake in shares of BlackRock California Municipal Income Trust during the 1st quarter valued at $1,423,000. SkyView Investment Advisors LLC bought a new position in BlackRock California Municipal Income Trust in the 1st quarter worth $585,000. Finally, Hennion & Walsh Asset Management Inc. lifted its position in BlackRock California Municipal Income Trust by 16.5% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 334,300 shares of the company’s stock valued at $3,911,000 after purchasing an additional 47,294 shares in 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.