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

BlackRock California Municipal Income Trust (NYSE:BFZ) saw 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 daily volume of 110,400 shares, the short-interest ratio is currently 0.2 days.

Insider Activity at BlackRock California Municipal Income Trust

In related news, major shareholder Saba Capital Management, L.P. sold 6,313 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $11.89, for a total transaction of $75,061.57. Following the sale, the insider now owns 5,233,255 shares in the company, valued at approximately $62,223,401.95. This trade represents a 0.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Advisors Asset Management Inc. increased its holdings in shares of BlackRock California Municipal Income Trust by 3.8% during the 3rd quarter. Advisors Asset Management Inc. now owns 463,700 shares of the company’s stock worth $5,606,000 after buying an additional 17,144 shares during the last quarter. Wolverine Asset Management LLC purchased a new position in BlackRock California Municipal Income Trust in the third quarter worth approximately $309,000. Farther Finance Advisors LLC acquired a new stake in BlackRock California Municipal Income Trust during the third quarter worth $170,000. Trilogy Capital Inc. raised its position in BlackRock California Municipal Income Trust by 292.8% in the third quarter. Trilogy Capital Inc. now owns 107,261 shares of the company’s stock valued at $1,297,000 after purchasing an additional 79,952 shares during the period. Finally, Cypress Wealth Services LLC acquired a new position in shares of BlackRock California Municipal Income Trust in the 3rd quarter valued at $250,000.

BlackRock California Municipal Income Trust Price Performance

BFZ stock opened at $11.17 on Friday. BlackRock California Municipal Income Trust has a 52 week low of $11.10 and a 52 week high of $12.23. The firm has a 50-day simple moving average of $11.64 and a 200-day simple moving average of $11.87.

BlackRock California Municipal Income Trust Announces Dividend

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