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Saba Capital Management, L.P., a ten percent owner of BLACKROCK CALIFORNIA MUNICIPAL INCOME TRUST (NYSE:BFZ), reported selling 25849 shares of common stock on July 9, 2025. The shares were sold at a price of $10.83, totaling $279944. The trust, currently valued at $327 million in market capitalization, offers investors a substantial 6.54% dividend yield and has maintained consistent dividend payments for 25 consecutive years. According to InvestingPro analysis, BFZ typically exhibits low price volatility, with a beta of 0.58.
Following the transaction, Saba Capital Management, L.P. directly owns 4629832 shares of Blackrock (NYSE:BLK) California Municipal Income Trust. Want deeper insights into BFZ’s dividend sustainability and financial health? InvestingPro subscribers have access to over 30 additional financial metrics and analysis tools.
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