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Saba Capital Management, L.P., a ten percent owner of BLACKROCK CALIFORNIA MUNICIPAL INCOME TRUST (NYSE:BFZ), reported selling 367,416 shares of common stock on September 4th and 5th, 2025. The sales, executed in two tranches, generated a total of $3,881,500. The price range for these sales was between $10.46 and $10.57. The fund, currently valued at $322 million, offers a substantial 6.68% dividend yield and has maintained dividend payments for 25 consecutive years, according to InvestingPro data.
On September 4th, Saba Capital Management sold 18,965 shares at $10.46 per share. Following this transaction, the firm held 3,591,901 shares. The following day, September 5th, the firm sold a significantly larger block of 348,451 shares at $10.57 per share, reducing their holdings to 3,243,450 shares. The stock, known for its low volatility with a beta of 0.59, is currently trading near its 52-week low of $10.17. For detailed dividend analysis and more insights, consider exploring InvestingPro, which offers additional key metrics and investment tips.
Boaz Weinstein is also listed as a reporting owner.
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