Saba Capital Sells 348451 Shares of Blackrock California Municipal Income Trust

As of September 4, 2025, Saba Capital Management, L.P., a 10% owner of BLACKROCK CALIFORNIA MUNICIPAL INCOME TRUST (BFZ), has disclosed two transactions involving the sale of shares in the company. Firstly, Saba Capital Management, L.P. sold 18,965 shares at a price of $10.46 per share on September 4, 2025. Secondly, the firm sold 348,451 shares at a price of $10.57 per share on September 5, 2025.

On September 4, 2025, Saba Capital Management, L.P., a significant holder of BlackRock California Municipal Income Trust (BFZ) shares, disclosed two transactions involving the sale of its holdings in the company. The firm sold a total of 367,416 shares in two separate transactions on September 4 and 5, 2025.

In the first transaction, Saba Capital Management sold 18,965 shares at a price of $10.46 per share on September 4, 2025. The second transaction saw the firm sell 348,451 shares at a price of $10.57 per share on September 5, 2025. These transactions highlight Saba Capital Management's strategic decision to reduce its exposure to the trust, potentially due to changes in market conditions or investment strategies.

BlackRock California Municipal Income Trust, listed on the NYSE under the ticker symbol BFZ, is known for its high dividend yield. The trust recently declared a monthly dividend of $0.059 per share, offering a forward yield of 6.81%. The dividend is payable on October 1, 2025, to shareholders of record as of September 15, 2025, with the ex-dividend date also set for September 15, 2025 [1].

These transactions may have implications for the trust's share price and dividend distribution. Investors should closely monitor the trust's performance and the impact of these sales on its financial health. As of the current date, September 2, 2025, the trust's price remains stable, with no significant fluctuations observed following the disclosed transactions.

References:
[1] https://seekingalpha.com/news/4491717-blackrock-california-municipal-income-trust-declares-0059-dividend