Short Interest in BlackRock California Municipal Income Trust (NYSE:BFZ) Declines By 16.7%

BlackRock California Municipal Income Trust (NYSE:BFZ) was the target of a large drop in short interest during the month of July. As of July 31st, there was short interest totalling 36,300 shares, a drop of 16.7% from the July 15th total of 43,600 shares. Based on an average daily trading volume, of 74,800 shares, the short-interest ratio is presently 0.5 days.

Institutional Investors Weigh In On BlackRock California Municipal Income Trust

Hedge funds have recently added to or reduced their stakes in the business. B. Riley Wealth Advisors Inc. purchased a new stake in BlackRock California Municipal Income Trust in the 1st quarter valued at $193,000. Napa Wealth Management acquired a new position in shares of BlackRock California Municipal Income Trust during the 4th quarter worth $380,000. Sanders Morris Harris LLC purchased a new stake in shares of BlackRock California Municipal Income Trust in the first quarter valued at about $479,000. Raymond James & Associates grew its holdings in BlackRock California Municipal Income Trust by 146.4% during the 4th quarter. Raymond James & Associates now owns 46,279 shares of the company’s stock valued at $557,000 after buying an additional 27,500 shares during the last quarter. Finally, Karpus Management Inc. acquired a new stake in shares of BlackRock California Municipal Income Trust during the fourth quarter valued at $561,000.

BlackRock California Municipal Income Trust Stock Up 0.2 %

Shares of NYSE:BFZ traded up $0.02 during midday trading on Friday, reaching $11.89. 92,851 shares of the company’s stock were exchanged, compared to its average volume of 64,207. BlackRock California Municipal Income Trust has a fifty-two week low of $9.86 and a fifty-two week high of $12.31. The firm’s 50 day simple moving average is $11.99 and its two-hundred day simple moving average is $11.83.

BlackRock California Municipal Income Trust Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th will be issued a $0.059 dividend. This represents a $0.71 dividend on an annualized basis and a dividend yield of 5.95%. The ex-dividend date is Thursday, August 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.