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

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

BlackRock California Municipal Income Trust Stock Performance

Shares of BFZ traded down $0.12 during trading hours on Wednesday, hitting $11.20. The stock had a trading volume of 119,027 shares, compared to its average volume of 88,490. BlackRock California Municipal Income Trust has a 12 month low of $11.10 and a 12 month high of $12.23. The stock has a fifty day moving average price of $11.38 and a 200 day moving average price of $11.71.

BlackRock California Municipal Income Trust Dividend Announcement

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

Insider Activity

In other BlackRock California Municipal Income Trust news, major shareholder Saba Capital Management, L.P. sold 58,256 shares of BlackRock California Municipal Income Trust stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $11.34, for a total transaction of $660,623.04. Following the completion of the transaction, the insider now owns 4,865,375 shares in the company, valued at approximately $55,173,352.50. The trade was a 1.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 267,737 shares of company stock worth $3,012,801 in the last quarter.

Institutional Trading of BlackRock California Municipal Income Trust

Several hedge funds have recently bought and sold shares of BFZ. Landscape Capital Management L.L.C. purchased a new position in shares of BlackRock California Municipal Income Trust in the fourth quarter valued at about $147,000. Atala Financial Inc purchased a new stake in shares of BlackRock California Municipal Income Trust in the fourth quarter worth about $1,068,000. Commonwealth Equity Services LLC lifted its position in shares of BlackRock California Municipal Income Trust by 4.7% in the fourth quarter. Commonwealth Equity Services LLC now owns 22,902 shares of the company’s stock worth $257,000 after buying an additional 1,037 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of BlackRock California Municipal Income Trust in the fourth quarter worth about $529,000. Finally, Wolverine Asset Management LLC lifted its position 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.

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.