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Saba capital management sells $448,045 of BlackRock California Municipal Income Trust stock

Published 23/01/2025, 16:58
Saba capital management sells $448,045 of BlackRock California Municipal Income Trust stock
BFZ
0.77%

Saba Capital Management, L.P., a significant shareholder in BlackRock (NYSE:BLK) California Municipal Income Trust (NYSE:BFZ), reported a recent sale of shares. According to a filing with the Securities and Exchange Commission, Saba Capital Management disposed of 39,580 shares at an average price of $11.32 per share, amounting to a total transaction value of $448,045. Following this transaction, Saba Capital Management holds 5,160,508 shares indirectly. The transaction was executed on January 22, 2025.

The trust, with a market capitalization of $339 million, currently offers a substantial 6.28% dividend yield and has maintained dividend payments for 25 consecutive years, according to InvestingPro data. The stock is trading near its 52-week low of $11.10, with additional insights and analysis available through InvestingPro's comprehensive financial metrics and tools.

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