Hennion & Walsh Asset Management Inc. Cuts Stock Holdings in BlackRock California Municipal Income Trust (NYSE:BFZ)

Hennion & Walsh Asset Management Inc. cut its position in shares of BlackRock California Municipal Income Trust (NYSE:BFZ) by 5.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 245,074 shares of the company’s stock after selling 14,984 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in BlackRock California Municipal Income Trust were worth $2,745,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Farther Finance Advisors LLC purchased a new position in shares of BlackRock California Municipal Income Trust in the third quarter valued at $170,000. Advisors Asset Management Inc. lifted its position in BlackRock California Municipal Income Trust by 3.8% during the third quarter. Advisors Asset Management Inc. now owns 463,700 shares of the company’s stock valued at $5,606,000 after purchasing an additional 17,144 shares during the last quarter. Cypress Wealth Services LLC purchased a new position in shares of BlackRock California Municipal Income Trust in the 3rd quarter worth $250,000. Wolverine Asset Management LLC purchased a new position in shares of BlackRock California Municipal Income Trust in the 3rd quarter worth $309,000. Finally, Sanctuary Advisors LLC bought a new stake in shares of BlackRock California Municipal Income Trust in the 2nd quarter worth about $509,000.

Insider Activity

In other news, major shareholder Saba Capital Management, L.P. sold 30,293 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $11.82, for a total value of $358,063.26. Following the sale, the insider now owns 5,200,088 shares of the company’s stock, valued at approximately $61,465,040.16. This represents a 0.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

BlackRock California Municipal Income Trust Stock Down 0.4 %

Shares of NYSE:BFZ opened at $11.28 on Friday. BlackRock California Municipal Income Trust has a 12 month low of $11.10 and a 12 month high of $12.23. The company has a 50-day moving average price of $11.50 and a 200 day moving average price of $11.81.

BlackRock California Municipal Income Trust Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Wednesday, January 15th will be paid a $0.059 dividend. This represents a $0.71 annualized dividend and a dividend 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.