Meridian Investment Counsel Inc. Reduces Stock Position in BlackRock California Municipal Income Trust (NYSE:BFZ)

Meridian Investment Counsel Inc. decreased its stake in shares of BlackRock California Municipal Income Trust (NYSE:BFZ) by 23.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 31,700 shares of the company’s stock after selling 9,700 shares during the period. Meridian Investment Counsel Inc.’s holdings in BlackRock California Municipal Income Trust were worth $355,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of BFZ. Trilogy Capital Inc. increased its position 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 worth $1,217,000 after buying an additional 1,376 shares during the period. Atala Financial Inc acquired a new position in shares of BlackRock California Municipal Income Trust during the 4th quarter valued at $1,068,000. Raymond James Financial Inc. acquired a new position in BlackRock California Municipal Income Trust during the fourth quarter worth about $529,000. Absolute Investment Advisers LLC bought a new stake in shares of BlackRock California Municipal Income Trust in the 4th quarter worth approximately $387,000. Finally, Wolverine Asset Management LLC grew its holdings in shares of BlackRock California Municipal Income Trust by 33.3% in the 4th quarter. Wolverine Asset Management LLC now owns 34,070 shares of the company’s stock worth $382,000 after acquiring an additional 8,505 shares during the last quarter.

Insider Transactions at BlackRock California Municipal Income Trust

In other BlackRock California Municipal Income Trust news, major shareholder Saba Capital Management, L.P. sold 31,198 shares of BlackRock California Municipal Income Trust stock in a transaction on Monday, January 27th. The shares were sold at an average price of $11.24, for a total transaction of $350,665.52. Following the sale, the insider now owns 5,129,310 shares in the company, valued at $57,653,444.40. The trade was a 0.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders sold 280,937 shares of company stock worth $3,162,753.

BlackRock California Municipal Income Trust Stock Performance

BFZ opened at $10.99 on Tuesday. BlackRock California Municipal Income Trust has a 12-month low of $10.84 and a 12-month high of $12.23. The stock has a fifty day moving average of $11.22 and a 200-day moving average of $11.53.

BlackRock California Municipal Income Trust Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.059 per share. The ex-dividend date is Friday, March 14th. This represents a $0.71 dividend on an annualized basis and a dividend yield of 6.45%.

BlackRock California Municipal Income Trust 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.