On October 13, 2023, Saba Capital Management, L.P. (Trades, Portfolio), a New York-based firm, added 18,218 shares of Blackrock CA Muni Income Tr (BFZ, Financial) to its portfolio. The shares were acquired at a price of $10.43 per share, bringing the firm's total holdings in BFZ to 4,599,448 shares. This transaction represents 1.25% of the firm's portfolio and 15.19% of BFZ's total shares.
About Saba Capital Management, L.P. (Trades, Portfolio)
Saba Capital Management, L.P. (Trades, Portfolio) is a firm based in New York, NY, with an equity of $3.84 billion. The firm's investment philosophy is centered around the Financial Services and Technology sectors. Its top holdings include Templeton Global Income Fund(GIM, Financial), BlackRock Capital Allocation Trust(BCAT, Financial), BlackRock Health Sciences Trust II(BMEZ, Financial), BlackRock Innovation & Growth Tr(BIGZ, Financial), and BlackRock ESG Capital Allocation Trust(ECAT, Financial).
Overview of Blackrock CA Muni Income Tr
Blackrock CA Muni Income Tr (BFZ, Financial) is a U.S.-based closed-end management investment company. The company's business focuses on providing current income exempt from regular U.S. federal income tax through investment in municipal bonds. As of October 17, 2023, the company has a market capitalization of $314.549 million and its current stock price is $10.39.
Blackrock CA Muni Income Tr's Stock Performance
BFZ's PE Percentage stands at 192.41, indicating the company's profitability. The stock's GF Score is 62/100, suggesting a poor future performance potential. However, the stock's GF Valuation suggests that it is significantly undervalued with a GF Value of 15.06.
Financial Health of Blackrock CA Muni Income Tr
BFZ's Financial Strength is reflected in its Balance Sheet Rank of 5/10, Profitability Rank of 3/10, and Growth Rank of 0/10. The company's Piotroski F-Score is 8 and its Altman Z score is 0.00, indicating the company's financial stability. The company's Cash to Debt ratio of 9999.00 indicates its ability to cover its debts.
Blackrock CA Muni Income Tr's Industry Performance
BFZ operates in the Asset Management industry. The company's ROE of 0.12 and ROA of 0.08 indicate its efficiency in generating profits. However, the company's Gross Margin Growth and Operating Margin Growth are both at 0.00, indicating the company's profitability.
Conclusion
In conclusion, Saba Capital Management, L.P. (Trades, Portfolio)'s recent acquisition of BFZ shares represents a significant addition to its portfolio. Despite BFZ's poor future performance potential as indicated by its GF Score, the stock is significantly undervalued, suggesting potential for future growth. However, investors should also consider the company's financial health and industry performance when making investment decisions.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
