Short Interest in BlackRock California Municipal Income Trust (NYSE:BFZ) Expands By 145.5%

BlackRock California Municipal Income Trust (NYSE:BFZ) was the target of a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 45,900 shares, an increase of 145.5% from the October 15th total of 18,700 shares. Based on an average daily trading volume, of 87,000 shares, the short-interest ratio is presently 0.5 days.

BlackRock California Municipal Income Trust Stock Down 0.9 %

NYSE BFZ traded down $0.10 during trading on Friday, reaching $11.59. 23,172 shares of the stock traded hands, compared to its average volume of 71,270. BlackRock California Municipal Income Trust has a fifty-two week low of $10.89 and a fifty-two week high of $12.31. The stock’s 50-day moving average price is $11.97 and its 200 day moving average price is $11.91.

BlackRock California Municipal Income Trust Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be issued a $0.059 dividend. This represents a $0.71 annualized dividend and a dividend yield of 6.11%. The ex-dividend date of this dividend is Friday, November 15th.

Insider Buying and Selling

In related news, major shareholder Saba Capital Management, L.P. sold 30,293 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $11.82, for a total transaction of $358,063.26. Following the completion of the transaction, the insider now owns 5,200,088 shares in the company, valued at approximately $61,465,040.16. The trade was a 0.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in BFZ. Farther Finance Advisors LLC bought a new stake in BlackRock California Municipal Income Trust during the third quarter worth $170,000. B. Riley Wealth Advisors Inc. acquired a new position in shares of BlackRock California Municipal Income Trust in the first quarter valued at about $193,000. Cypress Wealth Services LLC acquired a new position in shares of BlackRock California Municipal Income Trust in the third quarter valued at about $250,000. Wolverine Asset Management LLC acquired a new stake in BlackRock California Municipal Income Trust during the third quarter worth about $309,000. Finally, Sanctuary Advisors LLC acquired a new stake in BlackRock California Municipal Income Trust during the second quarter worth about $509,000.

BlackRock California Municipal Income Trust Company 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.