BlackRock California Municipal Income Trust Sees Saba Capital Management Sell Shares

BlackRock California Municipal Income Trust (BFZ) has disclosed that Saba Capital Management, L.P., a 10% owner of the company, has sold 18,180 shares at a price of $10.36 per share on August 25, 2025.

BlackRock California Municipal Income Trust (BFZ) has disclosed that Saba Capital Management, L.P., a 10% owner of the company, sold 18,180 shares at a price of $10.36 per share on August 25, 2025. The transaction was reported through a routine Section 16 filing, indicating an insider sale and the continued substantial indirect ownership [1].

The reporting person, Boaz Weinstein, sold the shares on an open market, reducing his beneficial ownership in the trust. Post-transaction, Weinstein's beneficial ownership stands at 3,687,497 shares, which is still a significant stake held indirectly [1].

The filing does not provide any information on the motive behind the sale or any material corporate developments. It serves as a standard compliance disclosure, demonstrating adherence to regulatory reporting rules. The document includes manual signatures and shows no indication of changes in board status or control, with the relationship to the issuer marked as Director and 10% Owner [1].

This routine insider sale does not suggest any immediate governance changes or significant events within the company. Investors should monitor the situation for any additional disclosures or developments that might impact the trust's performance.

References:
[1] https://www.stocktitan.net/sec-filings/BFZ/form-4-blackrock-ca-municipal-inc-tr-insider-trading-activity-0413787ea161.html