Short Interest in BlackRock California Municipal Income Trust (NYSE:BFZ) Increases By 43.4%

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

BlackRock California Municipal Income Trust Trading Up 0.7 %

Shares of NYSE BFZ traded up $0.08 during mid-day trading on Tuesday, reaching $11.06. 121,236 shares of the company were exchanged, compared to its average volume of 87,328. The firm has a 50-day moving average of $11.22 and a 200 day moving average of $11.53. BlackRock California Municipal Income Trust has a 1 year low of $10.84 and a 1 year high of $12.23.

BlackRock California Municipal Income Trust Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a dividend of $0.059 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.71 annualized dividend and a dividend yield of 6.40%.

Insiders Place Their Bets

In other BlackRock California Municipal Income Trust news, major shareholder Saba Capital Management, L.P. sold 103,231 shares of the stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $11.17, for a total transaction of $1,153,090.27. Following the sale, the insider now owns 5,026,079 shares of the company’s stock, valued at approximately $56,141,302.43. This trade represents a 2.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 280,937 shares of company stock worth $3,162,753 in the last three months.

Institutional Investors Weigh In On BlackRock California Municipal Income Trust

Several institutional investors have recently bought and sold shares of the company. Bank of America Corp DE lifted its holdings in shares of BlackRock California Municipal Income Trust by 128.9% during the 4th quarter. Bank of America Corp DE now owns 120,469 shares of the company’s stock valued at $1,349,000 after purchasing an additional 67,829 shares during the last quarter. Trilogy Capital Inc. raised its stake in BlackRock California Municipal Income Trust by 1.3% in 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. Atala Financial Inc acquired a new stake in BlackRock California Municipal Income Trust in the fourth quarter worth about $1,068,000. Ameriprise Financial Inc. grew its stake in shares of BlackRock California Municipal Income Trust by 247.4% during the fourth quarter. Ameriprise Financial Inc. now owns 69,484 shares of the company’s stock worth $778,000 after acquiring an additional 49,484 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of BlackRock California Municipal Income Trust during the fourth quarter worth about $529,000.

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.