Form 4: Wells Fargo Entities Adjust Beneficial Ownership in BlackRock California Municipal Income Trust
SEC Form 4 Filing
Wells Fargo Bank, National Association transferred its holdings of Variable Rate Muni Term Preferred Shares in BlackRock California Municipal Income Trust to Wells Fargo Municipal Capital Strategies, LLC.
Summary
- Wells Fargo & Company, Wells Fargo Municipal Capital Strategies, LLC, and Wells Fargo Bank, National Association are jointly filing a statement regarding changes in beneficial ownership of BlackRock California Municipal Income Trust (BFZ).
- On May 3, 2024, Wells Fargo Bank, National Association (WFBNA) transferred 1,713 Variable Rate Muni Term Preferred Shares (VMTP Shares) of BFZ to Wells Fargo Municipal Capital Strategies, LLC (Capital Strategies) for $100,000 per share.
- Following the transaction, Capital Strategies now directly owns the 1,713 VMTP Shares, while WFBNA no longer directly owns these shares.
- Wells Fargo & Company holds an indirect interest in these securities through its ownership of Capital Strategies and WFBNA.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing, so the sentiment is neutral.
Industry Context
This filing reflects changes in the beneficial ownership of securities in a closed-end fund, BlackRock California Municipal Income Trust. Such filings are routine and provide transparency into the holdings of major shareholders.
Related Party Transactions
- The transfer of shares between Wells Fargo Bank, National Association and Wells Fargo Municipal Capital Strategies, LLC is a related party transaction.
Stakeholder Impact
- The transfer of shares does not have a direct impact on shareholders of BlackRock California Municipal Income Trust.
- The transaction primarily affects the internal structure of Wells Fargo's holdings.
Key Dates
| Date | Description |
|---|---|
| 05/03/2024 | Date of the transaction where Wells Fargo Bank, National Association transferred shares to Wells Fargo Municipal Capital Strategies, LLC |
| 05/07/2024 | Date of the Joint Filing Agreement and signatures on the SEC Form 4 |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.