BlackRock California Municipal Income Trust to Issue Monthly Dividend of $0.05 (NYSE:BFZ)

BlackRock California Municipal Income Trust (NYSE:BFZ) declared a monthly dividend on Friday, November 17th, Wall Street Journal reports. Stockholders of record on Thursday, February 15th will be paid a dividend of 0.051 per share on Friday, March 1st. This represents a $0.61 dividend on an annualized basis and a dividend yield of 5.57%. The ex-dividend date of this dividend is Wednesday, February 14th.

BlackRock California Municipal Income Trust Stock Up 0.5 %

BFZ stock traded up $0.06 during trading on Friday, reaching $10.98. 217,018 shares of the company were exchanged, compared to its average volume of 79,331. BlackRock California Municipal Income Trust has a 52-week low of $9.86 and a 52-week high of $12.10. The stock’s 50 day moving average price is $10.42 and its 200 day moving average price is $11.21.

Insider Buying and Selling

In related news, major shareholder Saba Capital Management, L.P. acquired 90,004 shares of the firm’s stock in a transaction that occurred on Tuesday, September 26th. The shares were purchased at an average price of $10.41 per share, with a total value of $936,941.64. Following the completion of the acquisition, the insider now owns 4,415,992 shares in the company, valued at $45,970,476.72. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders have purchased 328,862 shares of company stock valued at $3,417,111.

Institutional Trading of BlackRock California Municipal Income Trust

Institutional investors and hedge funds have recently modified their holdings of the business. Integrated Wealth Concepts LLC purchased a new position in shares of BlackRock California Municipal Income Trust during the second quarter valued at approximately $141,000. Quarry LP purchased a new position in shares of BlackRock California Municipal Income Trust during the second quarter valued at approximately $149,000. Envestnet Asset Management Inc. lifted its stake in shares of BlackRock California Municipal Income Trust by 76.1% during the third quarter. Envestnet Asset Management Inc. now owns 18,514 shares of the company’s stock valued at $191,000 after buying an additional 8,000 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of BlackRock California Municipal Income Trust by 186.8% during the first quarter. JPMorgan Chase & Co. now owns 23,660 shares of the company’s stock valued at $277,000 after buying an additional 15,410 shares during the period. Finally, Stifel Financial Corp lifted its stake in shares of BlackRock California Municipal Income Trust by 31.4% during the first quarter. Stifel Financial Corp now owns 26,659 shares of the company’s stock valued at $312,000 after buying an additional 6,374 shares during the period.

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.