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In a recent transaction, Saba Capital Management, L.P., a significant shareholder in BlackRock (NYSE:BLK) California Municipal Income Trust (NYSE:BFZ), sold 13,200 shares of the trust’s common stock. The shares were sold at an average price of $11.36 each, totaling approximately $149,952. The trust, with a market capitalization of $341.22 million, currently offers investors a substantial 6.24% dividend yield and has maintained dividend payments for 25 consecutive years. Following this transaction, Saba Capital continues to hold 4,752,360 shares in the trust. This sale was reported in an SEC Form 4 filing dated February 20, 2025, and signed by Zachary Gindes and Boaz Weinstein on behalf of Saba Capital. According to InvestingPro, BFZ trades with notably low volatility, with a beta of 0.53, and is currently trading near its 52-week low of $11.1.
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