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Saba Capital Management, L.P., a ten percent owner of BLACKROCK CALIFORNIA MUNICIPAL INCOME TRUST (NYSE:BFZ), reported selling shares of common stock in two transactions on August 14 and 15, 2025. The sales amounted to a total of $673,933 with prices ranging from $10.52 to $10.57. The trust, with a market capitalization of $315.67 million, currently offers a substantial 6.76% dividend yield and has maintained dividend payments for 25 consecutive years, according to InvestingPro data.
On August 14, Saba Capital sold 45,262 shares at $10.57 per share. Following this, on August 15, the firm sold an additional 18,585 shares at $10.52 per share. After these transactions, Saba Capital Management, L.P. still indirectly owns 3,765,303 shares of BLACKROCK CALIFORNIA MUNICIPAL INCOME TRUST. The stock currently trades near its 52-week low of $10.17, with historically low price volatility indicated by its beta of 0.57. InvestingPro subscribers have access to additional key metrics and analysis tools for informed investment decisions.
Boaz Weinstein, also a ten percent owner, is included in the report.
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