BlackRock California Municipal Income Trust (NYSE:BFZ) Short Interest Up 133.6% in December

BlackRock California Municipal Income Trust (NYSE:BFZ) was the recipient of a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 25,000 shares, a growth of 133.6% from the November 30th total of 10,700 shares. Based on an average trading volume of 110,400 shares, the days-to-cover ratio is presently 0.2 days.

Insiders Place Their Bets

In other BlackRock California Municipal Income Trust news, major shareholder Saba Capital Management, L.P. sold 30,293 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $11.82, for a total transaction of $358,063.26. Following the transaction, the insider now owns 5,200,088 shares in the company, valued at approximately $61,465,040.16. This represents a 0.58 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Institutional Investors Weigh In On BlackRock California Municipal Income Trust

Hedge funds have recently bought and sold shares of the business. Farther Finance Advisors LLC purchased a new position in BlackRock California Municipal Income Trust during the 3rd quarter valued at $170,000. Cypress Wealth Services LLC purchased a new stake in shares of BlackRock California Municipal Income Trust during the third quarter valued at $250,000. Wolverine Asset Management LLC bought a new position in shares of BlackRock California Municipal Income Trust in the third quarter worth about $309,000. Sanctuary Advisors LLC purchased a new position in BlackRock California Municipal Income Trust in the 2nd quarter worth about $509,000. Finally, Trilogy Capital Inc. lifted its holdings in BlackRock California Municipal Income Trust by 292.8% during the 3rd quarter. Trilogy Capital Inc. now owns 107,261 shares of the company’s stock valued at $1,297,000 after buying an additional 79,952 shares in the last quarter.

BlackRock California Municipal Income Trust Price Performance

Shares of NYSE BFZ opened at $11.17 on Friday. BlackRock California Municipal Income Trust has a 1 year low of $11.10 and a 1 year high of $12.23. The firm has a fifty day moving average price of $11.64 and a 200-day moving average price of $11.87.

BlackRock California Municipal Income Trust Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a $0.059 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.71 dividend on an annualized basis and a dividend yield of 6.34%.

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.