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Saba Capital Management, L.P., a significant shareholder in BlackRock (NYSE:BLK) California Municipal Income Trust (NYSE:BFZ), reported a sale of 103,231 shares of the trust’s common stock. The transaction, which took place on January 29, 2025, was executed at a price of $11.17 per share, amounting to a total value of approximately $1.15 million. The trust, with a market capitalization of $338 million, currently offers investors a substantial 6.3% dividend yield. According to InvestingPro, BFZ has maintained dividend payments for 25 consecutive years.
Following this sale, Saba Capital now owns 5,026,079 shares of BlackRock California Municipal Income Trust. The transaction was disclosed in a filing with the Securities and Exchange Commission, signed by Zachary Gindes on behalf of Saba Capital Management, and by Boaz Weinstein, a notable figure associated with the firm. For investors seeking deeper insights into BFZ’s dividend sustainability and growth potential, InvestingPro offers comprehensive dividend analysis tools and additional financial metrics.
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