BlackRock California Municipal Income Trust (NYSE:BFZ) Short Interest Update

BlackRock California Municipal Income Trust (NYSE:BFZ) was the target of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 10,900 shares, an increase of 43.4% from the February 28th total of 7,600 shares. Based on an average daily trading volume, of 90,700 shares, the short-interest ratio is currently 0.1 days.

Insider Activity at BlackRock California Municipal Income Trust

In related news, major shareholder Saba Capital Management, L.P. sold 39,580 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $11.32, for a total value of $448,045.60. Following the transaction, the insider now directly owns 5,160,508 shares in the company, valued at approximately $58,416,950.56. This represents a 0.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last 90 days, insiders have sold 280,937 shares of company stock worth $3,162,753.

Hedge Funds Weigh In On BlackRock California Municipal Income Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE raised its stake in BlackRock California Municipal Income Trust by 128.9% in the fourth quarter. Bank of America Corp DE now owns 120,469 shares of the company’s stock valued at $1,349,000 after purchasing an additional 67,829 shares in the last quarter. Trilogy Capital Inc. raised its position in shares of BlackRock California Municipal Income Trust by 1.3% in the 4th quarter. Trilogy Capital Inc. now owns 108,637 shares of the company’s stock valued at $1,217,000 after buying an additional 1,376 shares in the last quarter. Atala Financial Inc bought a new position in BlackRock California Municipal Income Trust in the fourth quarter valued at approximately $1,068,000. Ameriprise Financial Inc. lifted its stake in BlackRock California Municipal Income Trust by 247.4% during the fourth quarter. Ameriprise Financial Inc. now owns 69,484 shares of the company’s stock worth $778,000 after purchasing an additional 49,484 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of BlackRock California Municipal Income Trust in the 4th quarter valued at $529,000.

BlackRock California Municipal Income Trust Stock Performance

Shares of NYSE:BFZ traded up $0.02 on Monday, reaching $10.99. 56,974 shares of the company’s stock were exchanged, compared to its average volume of 87,203. BlackRock California Municipal Income Trust has a twelve month low of $10.84 and a twelve month high of $12.23. The company has a fifty day moving average of $11.22 and a 200-day moving average of $11.53.

BlackRock California Municipal Income Trust Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.059 per share. The ex-dividend date is Friday, March 14th. This represents a $0.71 dividend on an annualized basis and a yield of 6.45%.

BlackRock California Municipal Income Trust Company Profile

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.