BlackRock California Municipal Income Trust (NYSE:BFZ) Short Interest Down 65.0% in January

BlackRock California Municipal Income Trust (NYSE:BFZ) was the target of a significant decrease in short interest in the month of January. As of January 31st, there was short interest totalling 7,800 shares, a decrease of 65.0% from the January 15th total of 22,300 shares. Based on an average daily trading volume, of 125,200 shares, the short-interest ratio is presently 0.1 days.

Insider Transactions at BlackRock California Municipal Income Trust

In other BlackRock California Municipal Income Trust news, major shareholder Saba Capital Management, L.P. sold 39,580 shares of BlackRock California Municipal Income Trust stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $11.32, for a total value of $448,045.60. Following the transaction, the insider now owns 5,160,508 shares in the company, valued at $58,416,950.56. This trade represents a 0.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders sold 267,737 shares of company stock worth $3,012,801.

Institutional Trading of BlackRock California Municipal Income Trust

Hedge funds and other institutional investors have recently made changes to their positions in the business. Golden State Wealth Management LLC bought a new stake in BlackRock California Municipal Income Trust in the fourth quarter worth approximately $118,000. Landscape Capital Management L.L.C. acquired a new position in shares of BlackRock California Municipal Income Trust in the 4th quarter valued at $147,000. Farther Finance Advisors LLC acquired a new stake in shares of BlackRock California Municipal Income Trust during the 3rd quarter worth about $170,000. Commonwealth Equity Services LLC grew its holdings 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 worth $257,000 after acquiring an additional 1,037 shares during the last quarter. Finally, Wolverine Asset Management LLC bought a new position in shares of BlackRock California Municipal Income Trust in the 3rd quarter valued at about $309,000.

BlackRock California Municipal Income Trust Price Performance

Shares of BFZ traded down $0.12 during midday trading on Wednesday, hitting $11.20. The company had a trading volume of 119,027 shares, compared to its average volume of 88,490. The company’s 50 day moving average price is $11.38 and its 200 day moving average price is $11.71. BlackRock California Municipal Income Trust has a 52 week low of $11.10 and a 52 week high of $12.23.

BlackRock California Municipal Income Trust Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be paid a dividend of $0.059 per share. This represents a $0.71 dividend on an annualized basis and a yield of 6.32%. The ex-dividend date is Friday, February 14th.

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.