BlackRock California Municipal Income Trust (NYSE:BFZ - Get Free Report) major shareholder Saba Capital Management, L.P. acquired 6,109 shares of the stock in a transaction on Monday, April 1st. The shares were bought at an average price of $11.76 per share, for a total transaction of $71,841.84. Following the purchase, the insider now owns 5,231,209 shares in the company, valued at $61,519,017.84. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, 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 Thursday, March 28th, Saba Capital Management, L.P. acquired 40,094 shares of BlackRock California Municipal Income Trust stock. The shares were bought at an average price of $11.82 per share, for a total transaction of $473,911.08.
- On Monday, March 25th, Saba Capital Management, L.P. acquired 23,774 shares of BlackRock California Municipal Income Trust stock. The shares were bought at an average price of $11.77 per share, for a total transaction of $279,819.98.
- On Thursday, March 21st, Saba Capital Management, L.P. acquired 14,317 shares of BlackRock California Municipal Income Trust stock. The shares were bought at an average price of $11.68 per share, for a total transaction of $167,222.56.
- On Tuesday, March 12th, Saba Capital Management, L.P. acquired 35,703 shares of BlackRock California Municipal Income Trust stock. The shares were bought at an average price of $11.95 per share, for a total transaction of $426,650.85.
BlackRock California Municipal Income Trust Stock Performance
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BlackRock California Municipal Income Trust stock opened at $11.77 on Thursday. The stock's fifty day moving average price is $11.80 and its two-hundred day moving average price is $11.28. BlackRock California Municipal Income Trust has a one year low of $9.86 and a one year high of $12.31.
BlackRock California Municipal Income Trust Announces Dividend
The company also recently disclosed a monthly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 15th will be issued a dividend of $0.051 per share. This represents a $0.61 annualized dividend and a dividend yield of 5.20%. The ex-dividend date of this dividend is Friday, April 12th.
Institutional Investors Weigh In On BlackRock California Municipal Income Trust
Several hedge funds have recently modified their holdings of the company. Blue Bell Private Wealth Management LLC acquired a new position in BlackRock California Municipal Income Trust during the 4th quarter worth about $33,000. Miracle Mile Advisors LLC lifted its holdings in BlackRock California Municipal Income Trust by 18.2% during the 3rd quarter. Miracle Mile Advisors LLC now owns 13,000 shares of the company's stock worth $134,000 after buying an additional 2,000 shares during the period. Integrated Wealth Concepts LLC acquired a new position in BlackRock California Municipal Income Trust during the 2nd quarter worth about $141,000. Quarry LP acquired a new position in BlackRock California Municipal Income Trust during the 2nd quarter worth about $149,000. Finally, Envestnet Asset Management Inc. lifted its holdings in BlackRock California Municipal Income Trust by 76.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 18,514 shares of the company's stock worth $191,000 after buying an additional 8,000 shares during the period.
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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