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Blackrock California Municipal Income Trust Announces Saba Capital Management's Share Sales.
ByAinvest
Monday, Aug 18, 2025 12:03 pm ET1min read
BlackRock California Municipal Income Trust (BFZ) has recently disclosed that Saba Capital Management, L.P., a 10% owner of the company, has executed two transactions involving the sale of shares. On August 14, 2025, Saba Capital Management sold 45,262 shares at a price per share of $10.57. Subsequently, on August 15, 2025, the entity sold an additional 18,585 shares at a price per share of $10.52.
BlackRock California Municipal Income Trust (BFZ) has recently disclosed insider trading activities involving Saba Capital Management, L.P., a 10% owner of the company. On August 14, 2025, Saba Capital Management sold 45,262 shares at a price per share of $10.57. Subsequently, on August 15, 2025, the entity sold an additional 18,585 shares at a price per share of $10.52 [1].The transactions, reported as indirect beneficial ownership changes, resulted in a post-transaction indirect position of 3,765,303 shares. The Form 4 filing, submitted under Section 16(a) of the Securities Exchange Act of 1934, does not disclose any derivatives, purchases, or additional explanatory details. The report was signed and dated by Saba Capital Management, L.P., and Boaz Weinstein, both of whom hold director status and 10% ownership in the trust [1].
The trust, with a market capitalization of $318.67 million, offers an attractive dividend yield of 6.69% and has maintained dividend payments for 25 consecutive years. Following the transactions, Saba Capital Management, L.P., still owns 3,829,150 shares of Blackrock California Municipal Income Trust [2].
The shares of Blackrock California Municipal Income Trust demonstrate relatively low volatility, with a beta of 0.57, and are currently trading near their 52-week low of $10.17. The trust's financial health and market position continue to be closely monitored by investors and financial professionals.
References:
[1] https://www.stocktitan.net/sec-filings/BFZ/form-4-blackrock-ca-municipal-inc-tr-insider-trading-activity-0534ee3bdff6.html
[2] https://www.investing.com/news/insider-trading-news/saba-capital-sells-blackrock-california-bfz-shares-for-542k-93CH-4192816
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