SoFi CEO enters prepaid forward contract on 1.5 million shares
Saba Capital Management, L.P., a ten-percent owner of BLACKROCK CALIFORNIA MUNICIPAL INCOME TRUST (NYSE:BFZ), along with Boaz Weinstein, sold a combined total of 28,621 shares of common stock in two transactions. The sales occurred on July 10 and July 11, 2025, with prices ranging from $10.78 to $10.86, totaling $309,663. The trust, currently valued at $325 million, maintains a notable 6.57% dividend yield and boasts a 25-year track record of consistent dividend payments.
On July 10, 2025, 14,116 shares were sold at a price of $10.86 per share. Following this transaction, Saba Capital Management, L.P.’s indirect ownership amounted to 4,615,716 shares. The next day, July 11, 2025, an additional 14,505 shares were sold at $10.78 per share, resulting in a decreased ownership of 4,601,211 shares. With a beta of 0.58, BFZ demonstrates relatively low price volatility compared to the market. InvestingPro analysis reveals several additional key metrics and insights about the trust’s financial health and investment potential.
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