Saba Capital Management sells 52,142 and 8,384 shares in Blackrock California Municipal Income Trust.

Blackrock California Municipal Income Trust (BFZ) has reported that Saba Capital Management, L.P., a 10% owner of the company, has made two recent transactions involving the sale of shares. On August 19, 2025, Saba Capital Management sold 51,242 shares at a price of $10.38 per share. Subsequently, on August 20, 2025, the company sold an additional 8,384 shares at a price of $10.35 per share.

Blackrock California Municipal Income Trust (BFZ) has reported that Saba Capital Management, L.P., a 10% owner of the company, has made two recent transactions involving the sale of shares. On August 19, 2025, Saba Capital Management sold 51,242 shares at a price of $10.38 per share. Subsequently, on August 20, 2025, the company sold an additional 8,384 shares at a price of $10.35 per share.

The transactions, disclosed in a Form 4 filing, were executed as part of routine portfolio rebalancing or liquidity needs, rather than an ownership change to another counterparty. The sales were reported as indirect holdings by Saba Capital Management, L.P. and Boaz Weinstein, both of whom are directors and 10% owners of the company.

After the transactions, the remaining indirect position in the trust was reported at 3,705,677 shares. No derivatives, option exercises, or additional transactions were reported in the filing. The Form 4 does not indicate any related-party transfers, Rule 10b5-1 plans, or amendments. Based solely on the filing, there is no additional governance red flag beyond the disclosed sales.

The filing lists the reporting persons as both directors and 10% owners and provides signatures from Saba Capital Management and Boaz Weinstein dated August 21, 2025. The transactions are coded as sales and show the change in indirect beneficial ownership.

References:
[1] https://www.stocktitan.net/sec-filings/BFZ/form-4-blackrock-ca-municipal-inc-tr-insider-trading-activity-8e44200f4b7a.html