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

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

Insiders Place Their Bets

In other news, major shareholder Saba Capital Management, L.P. sold 5,404 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $11.34, for a total transaction of $61,281.36. Following the completion of the transaction, the insider now directly owns 4,833,111 shares of the company’s stock, valued at approximately $54,807,478.74. This trade represents a 0.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders sold 280,937 shares of company stock worth $3,162,753.

Institutional Investors Weigh In On BlackRock California Municipal Income Trust

Institutional investors and hedge funds have recently made changes to their positions in the company. Absolute Investment Advisers LLC acquired a new stake in shares of BlackRock California Municipal Income Trust during the 4th quarter worth about $387,000. Trilogy Capital Inc. increased its holdings in shares of BlackRock California Municipal Income Trust by 1.3% during the fourth quarter. Trilogy Capital Inc. now owns 108,637 shares of the company’s stock worth $1,217,000 after buying an additional 1,376 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in shares of BlackRock California Municipal Income Trust during the fourth quarter worth approximately $118,000. Wolverine Asset Management LLC raised its stake in shares of BlackRock California Municipal Income Trust by 33.3% in the fourth quarter. Wolverine Asset Management LLC now owns 34,070 shares of the company’s stock valued at $382,000 after acquiring an additional 8,505 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of BlackRock California Municipal Income Trust in the 4th quarter worth approximately $529,000.

BlackRock California Municipal Income Trust Stock Performance

NYSE:BFZ traded up $0.11 during mid-day trading 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. BlackRock California Municipal Income Trust has a fifty-two week low of $10.84 and a fifty-two week high of $12.23. The stock has a fifty day moving average of $11.23 and a 200-day moving average of $11.54.

BlackRock California Municipal Income Trust Dividend Announcement

The business also recently announced 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 of this dividend 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.