SoFi CEO enters prepaid forward contract on 1.5 million shares
Saba Capital Management, L.P., a significant shareholder in BlackRock (NYSE:BLK) California Municipal Income Trust (NYSE:BFZ), disclosed a recent sale of shares according to an SEC filing. The trust, which offers a notable 6.29% dividend yield and maintains a low volatility profile with a beta of 0.53, has been trading near its 52-week low of $11.1. InvestingPro data reveals the trust has maintained consistent dividend payments for 25 consecutive years, making it a notable holding for income-focused investors. On February 13, Saba Capital sold 6,661 shares of the trust’s common stock at a price of $11.23 per share, generating a total transaction value of $74,803. Following this transaction, Saba Capital holds 4,765,560 shares indirectly in the $338.52M market cap trust. The sale was executed by Saba Capital and reported by Boaz Weinstein, a ten percent owner of the trust. For deeper insights into BFZ’s financial health and more exclusive investment metrics, visit InvestingPro.
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