Saba Capital Management sells 51,268 shares in BlackRock California Municipal Income Trust.

BlackRock California Municipal Income Trust (BFZ) has announced that Saba Capital Management, L.P., a 10% owner, has disposed of 51,268 shares at a price of $10.59 per share on August 13, 2025.

BlackRock California Municipal Income Trust (BFZ) has recently announced that Saba Capital Management, L.P., a 10% owner, has disposed of 51,268 shares at a price of $10.59 per share on August 13, 2025. The transaction, reported in a Form 4 filing, indicates a significant reduction in the fund's ownership stake by Saba Capital Management.

The filing details reveal that Saba Capital Management's beneficial ownership of BFZ shares stands at 3,880,418 shares, with the latest sale reducing their holding by 51,268 shares. The sale price of $10.59 per share is in line with the recent market prices for the fund, suggesting a stable market environment. The transaction was reported by Saba Capital Management and signed by representatives on August 14, 2025, complying with SEC Form 4 disclosure requirements.

This sale is part of a series of significant transactions involving Saba Capital Management and BFZ. On August 7 and 8, 2025, Saba Capital Management sold 72,550 and 27,450 shares, respectively, at prices of $10.61 and $10.58 per share [2]. These transactions highlight ongoing activity within the fund's shareholder base and could potentially impact the fund's liquidity and market dynamics.

Despite the recent sales, BlackRock California Municipal Income Trust has maintained its reliability as a municipal income fund, with a recent dividend declaration of $0.059 per share monthly, yielding a forward yield of 6.7% [1]. The dividend is payable on September 2, 2025, for shareholders of record on August 15, 2025, with an ex-dividend date of August 15, 2025.

Investors and financial professionals are advised to stay informed about significant changes within investment funds, such as share transactions and dividend changes. Monitoring the fund's performance and any future announcements regarding share transactions or dividend changes can help in making informed investment decisions.

References:
[1] https://seekingalpha.com/news/4478836-blackrock-california-municipal-income-trust-declares-0_059-dividend
[2] https://www.ainvest.com/news/saba-capital-sells-100-000-shares-blackrock-california-municipal-income-trust-2508/