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Saba Capital Management, L.P., a prominent investor in BlackRock (NYSE:BLK) California Municipal Trust (NYSE:BFZ), has recently sold a significant portion of its holdings in the $341 million market cap fund. According to a recent SEC filing, the firm sold a total of 26,860 shares over two days, amounting to approximately $304,564. The shares were sold at prices ranging from $11.32 to $11.34 per share, with the stock currently trading near its 52-week low and offering a substantial 6.3% dividend yield.
Following these transactions, Saba Capital Management holds 4,838,515 shares of the trust. The filing was signed by Zachary Gindes on behalf of Saba Capital Management and Boaz Weinstein, another significant owner, on February 10, 2025. InvestingPro data reveals that BFZ has maintained dividend payments for 25 consecutive years, with additional insights available to subscribers.
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