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

BlackRock California Municipal Income Trust (NYSE:BFZ) saw a large increase in short interest in 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 volume of 90,700 shares, the days-to-cover ratio is currently 0.1 days.

Insider Activity

In other news, major shareholder Saba Capital Management, L.P. sold 13,200 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $11.36, for a total transaction of $149,952.00. Following the completion of the transaction, the insider now directly owns 4,752,360 shares in the company, valued at approximately $53,986,809.60. The trade was a 0.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 280,937 shares of company stock valued at $3,162,753 in the last 90 days.

Institutional Investors Weigh In On BlackRock California Municipal Income Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC increased its position in shares of BlackRock California Municipal Income Trust by 4.7% in the fourth quarter. Commonwealth Equity Services LLC now owns 22,902 shares of the company’s stock valued at $257,000 after acquiring an additional 1,037 shares during the last quarter. Trilogy Capital Inc. grew its stake in BlackRock California Municipal Income Trust by 1.3% in the fourth quarter. Trilogy Capital Inc. now owns 108,637 shares of the company’s stock valued at $1,217,000 after purchasing an additional 1,376 shares in the last quarter. Elequin Capital LP acquired a new position in shares of BlackRock California Municipal Income Trust during the 4th quarter worth approximately $52,000. Wolverine Asset Management LLC raised its stake in shares of BlackRock California Municipal Income Trust by 33.3% during the 4th quarter. Wolverine Asset Management LLC now owns 34,070 shares of the company’s stock worth $382,000 after purchasing an additional 8,505 shares in the last quarter. Finally, Golden State Wealth Management LLC bought a new stake in shares of BlackRock California Municipal Income Trust during the 4th quarter worth approximately $118,000.

BlackRock California Municipal Income Trust Price Performance

Shares of BFZ traded up $0.11 on Friday, hitting $10.96. The company’s stock had a trading volume of 48,447 shares, compared to its average volume of 87,324. The firm’s fifty day moving average price is $11.23 and its 200-day moving average price is $11.54. BlackRock California Municipal Income Trust has a fifty-two week low of $10.84 and a fifty-two week high of $12.23.

BlackRock California Municipal Income Trust Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a $0.059 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.71 dividend on an annualized basis and a dividend yield of 6.46%.

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.