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Saba Capital Management, L.P., and Boaz Weinstein, a ten percent owner of BLACKROCK CALIFORNIA MUNICIPAL INCOME TRUST (NYSE:BFZ), reported selling shares of common stock worth $1.06 million. The sales occurred in two separate transactions on August 5 and August 6, 2025, with prices ranging from $10.56 to $10.59. The $319.28 million market cap fund currently offers a substantial 6.69% dividend yield and has maintained dividend payments for 25 consecutive years, according to InvestingPro data.
On August 5, 2025, Saba Capital sold 32,498 shares at a price of $10.56 per share. Following this transaction, the reporting owners still held 4,070,180 shares. The total value of this transaction was $343,128. With a beta of 0.57, BFZ demonstrates relatively low price volatility compared to the broader market.
The second sale, which took place on August 6, 2025, involved 67,985 shares sold at $10.59 per share, for a total value of $719,962. After this transaction, Saba Capital’s holdings decreased to 4,002,195 shares. InvestingPro subscribers can access 6 additional key insights about BFZ’s financial health and investment potential.
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