Advisors Asset Management Inc. Sells 28,552 Shares of BlackRock California Municipal Income Trust (NYSE:BFZ)

Advisors Asset Management Inc. cut its holdings in shares of BlackRock California Municipal Income Trust (NYSE:BFZ) by 6.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 435,148 shares of the company’s stock after selling 28,552 shares during the quarter. Advisors Asset Management Inc.’s holdings in BlackRock California Municipal Income Trust were worth $4,874,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Commonwealth Equity Services LLC raised its stake in BlackRock California Municipal Income Trust by 4.7% during the 4th quarter. Commonwealth Equity Services LLC now owns 22,902 shares of the company’s stock valued at $257,000 after purchasing an additional 1,037 shares during the period. Trilogy Capital Inc. raised its position 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 valued at $1,217,000 after buying an additional 1,376 shares during the last quarter. Wolverine Asset Management LLC lifted its holdings 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 worth $382,000 after buying an additional 8,505 shares in the last quarter. Golden State Wealth Management LLC purchased a new position in BlackRock California Municipal Income Trust during the fourth quarter valued at $118,000. Finally, Absolute Investment Advisers LLC purchased a new position in BlackRock California Municipal Income Trust during the fourth quarter valued at $387,000.

Insider Activity at BlackRock California Municipal Income Trust

In related news, major shareholder Saba Capital Management, L.P. sold 39,580 shares of the company’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $11.32, for a total transaction of $448,045.60. Following the sale, the insider now owns 5,160,508 shares of the company’s stock, valued at $58,416,950.56. This represents a 0.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders sold 280,937 shares of company stock valued at $3,162,753.

BlackRock California Municipal Income Trust Stock Performance

Shares of BFZ stock opened at $11.01 on Thursday. The company’s fifty day simple moving average is $11.27 and its two-hundred day simple moving average is $11.59. BlackRock California Municipal Income Trust has a 52 week low of $10.97 and a 52 week high of $12.23.

BlackRock California Municipal Income Trust Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given 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 6.43%.

BlackRock California Municipal Income Trust 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.