SoFi CEO enters prepaid forward contract on 1.5 million shares
Saba Capital Management, L.P., a ten percent owner of BLACKROCK CALIFORNIA MUNICIPAL INCOME TRUST (NYSE:BFZ), reported selling 12,065 shares of common stock over two days, according to a Form 4 filing with the Securities and Exchange Commission. The sales occurred on July 15 and July 16, 2025. BFZ, currently trading at $10.65 and offering a substantial 6.65% dividend yield, has maintained dividend payments for 25 consecutive years, according to InvestingPro data.
On July 15, 7,132 shares were sold at a price of $10.79, for a total value of $76,954.48. The following day, July 16, 4,933 shares were sold at $10.74 per share, for a total value of $52,980.42. The total value of shares sold was $129,934, with prices ranging from $10.74 to $10.79. Following these transactions, Saba Capital Management, L.P. still owns 4,542,761 shares of BLACKROCK CALIFORNIA MUNICIPAL INCOME TRUST, which has a market capitalization of $320.18 million and historically demonstrates low price volatility with a beta of 0.58. InvestingPro subscribers have access to 6 additional key insights about BFZ’s financial health and market position.
Boaz Weinstein is also indicated as a ten percent owner in the report.
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