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Saba Capital Management, a ten-percent owner of BLACKROCK CALIFORNIA MUNICIPAL INCOME TRUST (NYSE:BFZ), reported selling 33,982 shares of common stock on July 2, 2025. The shares were sold at a price of $10.85, with the transaction amounting to $368,704. The sale occurred near BFZ’s current trading price of $10.86, with the stock offering a substantial 6.52% dividend yield. According to InvestingPro, BFZ has maintained dividend payments for 25 consecutive years.
Following the transaction, Saba Capital Management and Boaz Weinstein, also a ten-percent owner, collectively own 4,658,735 shares of Blackrock (NYSE:BLK) California Municipal Income Trust.
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