BlackRock California Municipal Income Trust (NYSE:BFZ) Sees Large Decline in Short Interest

BlackRock California Municipal Income Trust (NYSE:BFZ) was the target of a large decrease in short interest during the month of December. As of December 31st, there was short interest totalling 6,000 shares, a decrease of 76.0% from the December 15th total of 25,000 shares. Based on an average daily volume of 116,200 shares, the days-to-cover ratio is presently 0.1 days.

Insider Transactions 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 on 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 sale, the insider now directly owns 5,200,088 shares of the company’s stock, valued at $61,465,040.16. This trade represents a 0.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Hedge Funds Weigh In On BlackRock California Municipal Income Trust

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

BlackRock California Municipal Income Trust Stock Performance

Shares of NYSE:BFZ traded down $0.22 during midday trading on Tuesday, reaching $11.28. The company’s stock had a trading volume of 33,093 shares, compared to its average volume of 67,224. The business’s fifty day simple moving average is $11.52 and its 200-day simple moving average is $11.82. BlackRock California Municipal Income Trust has a fifty-two week low of $11.10 and a fifty-two week high of $12.23.

BlackRock California Municipal Income Trust Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Wednesday, January 15th will be given a $0.059 dividend. This represents a $0.71 annualized dividend and a yield of 6.28%. The ex-dividend date of this dividend is Wednesday, January 15th.

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.