BlackRock California Municipal Income Trust (NYSE:BFZ) Sees Significant Growth in Short Interest

BlackRock California Municipal Income Trust (NYSE:BFZ) saw a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 25,000 shares, a growth of 133.6% from the November 30th total of 10,700 shares. Based on an average daily volume of 110,400 shares, the days-to-cover ratio is currently 0.2 days.

BlackRock California Municipal Income Trust Price Performance

NYSE BFZ opened at $11.26 on Friday. The firm has a 50 day simple moving average of $11.66 and a 200-day simple moving average of $11.88. BlackRock California Municipal Income Trust has a one year low of $11.17 and a one year high of $12.31.

BlackRock California Municipal Income Trust Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be paid a $0.059 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.71 annualized dividend and a dividend yield of 6.29%.

Insider Buying and Selling at BlackRock California Municipal Income Trust

In related news, major shareholder Saba Capital Management, L.P. sold 30,293 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $11.82, for a total transaction of $358,063.26. Following the completion of the transaction, the insider now directly owns 5,200,088 shares in the company, valued at $61,465,040.16. This trade represents a 0.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Institutional Trading of BlackRock California Municipal Income Trust

A number of large investors have recently modified their holdings of the stock. Farther Finance Advisors LLC acquired a new position in shares of BlackRock California Municipal Income Trust during the 3rd quarter worth about $170,000. Cypress Wealth Services LLC acquired a new position in BlackRock California Municipal Income Trust in the third quarter valued at approximately $250,000. Wolverine Asset Management LLC purchased a new position in BlackRock California Municipal Income Trust in the third quarter valued at approximately $309,000. Sanctuary Advisors LLC purchased a new stake in shares of BlackRock California Municipal Income Trust during the 2nd quarter worth approximately $509,000. Finally, Trilogy Capital Inc. lifted its position in shares of BlackRock California Municipal Income Trust by 292.8% during the 3rd quarter. Trilogy Capital Inc. now owns 107,261 shares of the company’s stock worth $1,297,000 after buying an additional 79,952 shares during the last quarter.

About BlackRock California Municipal Income Trust

BlackRock California Municipal Income Trust is a closed ended fixed income mutual fund launched by BlackRock, Inc It is managed by BlackRock Advisors, LLC. The fund invests in fixed income markets. It invests primarily in investment grade municipal bonds that are exempt from regular federal and California income taxes.