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

BlackRock California Municipal Income Trust (NYSE:BFZ) was the target of a large growth in short interest during the month of December. As of December 15th, there was short interest totalling 25,000 shares, a growth of 133.6% from the November 30th total of 10,700 shares. Based on an average daily trading volume, of 110,400 shares, the days-to-cover ratio is presently 0.2 days.

BlackRock California Municipal Income Trust Stock Down 0.8 %

BFZ stock opened at $11.17 on Friday. The business has a 50 day moving average of $11.64 and a 200-day moving average of $11.87. BlackRock California Municipal Income Trust has a 12-month low of $11.10 and a 12-month high of $12.23.

BlackRock California Municipal Income Trust Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a dividend of $0.059 per share. This represents a $0.71 annualized dividend and a dividend yield of 6.34%. The ex-dividend date of this dividend is Monday, December 16th.

Insider Activity at BlackRock California Municipal Income Trust

In other BlackRock California Municipal Income Trust news, major shareholder Saba Capital Management, L.P. sold 30,293 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $11.82, for a total value of $358,063.26. Following the completion of the sale, the insider now owns 5,200,088 shares in the company, valued at approximately $61,465,040.16. This trade represents a 0.58 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Institutional Investors Weigh In On BlackRock California Municipal Income Trust

Hedge funds have recently made changes to their positions in the business. Farther Finance Advisors LLC bought a new position in BlackRock California Municipal Income Trust during the third quarter valued at $170,000. Advisors Asset Management Inc. grew its stake in shares of BlackRock California Municipal Income Trust by 3.8% during the 3rd quarter. Advisors Asset Management Inc. now owns 463,700 shares of the company’s stock worth $5,606,000 after acquiring an additional 17,144 shares during the period. Cypress Wealth Services LLC purchased a new stake in BlackRock California Municipal Income Trust in the 3rd quarter worth about $250,000. Wolverine Asset Management LLC bought a new stake in BlackRock California Municipal Income Trust in the 3rd quarter valued at about $309,000. Finally, Sanctuary Advisors LLC purchased a new stake in BlackRock California Municipal Income Trust during the second quarter valued at about $509,000.

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.