Moody’s downgrades Senegal to Caa1 amid rising debt concerns
Saba Capital Management, L.P., a ten percent owner of BLACKROCK CALIFORNIA MUNICIPAL INCOME TRUST (NYSE:BFZ), sold 60,573 shares of common stock in two transactions on September 11 and 12, 2025. The sales were executed at prices ranging from $10.95 to $10.96, netting a total of $663644. The trust, currently valued at $329.8 million, maintains a notable 6.5% dividend yield and has consistently paid dividends for 25 consecutive years.
On September 11, Saba Capital sold 36,969 shares at $10.96 per share. Following this transaction, the firm held 3,021,469 shares. The next day, September 12, the firm sold an additional 23,604 shares at $10.95 per share, reducing their holdings to 2,997,865 shares. InvestingPro analysis indicates the stock is currently in overbought territory, though it typically trades with low volatility, with a beta of 0.59.
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