BlackRock California Municipal Income Trust (NYSE:BFZ) Sees Significant Decline in Short Interest

BlackRock California Municipal Income Trust (NYSE:BFZ) was the target of a significant decline in short interest during the month of November. As of November 15th, there was short interest totalling 20,200 shares, a decline of 56.0% from the October 31st total of 45,900 shares. Based on an average trading volume of 92,400 shares, the short-interest ratio is presently 0.2 days.

BlackRock California Municipal Income Trust Price Performance

Shares of BFZ stock traded up $0.11 on Thursday, reaching $11.58. 244,407 shares of the company’s stock were exchanged, compared to its average volume of 74,429. The company’s fifty day simple moving average is $11.87 and its 200 day simple moving average is $11.90. BlackRock California Municipal Income Trust has a 52 week low of $11.01 and a 52 week high of $12.31.

BlackRock California Municipal Income Trust Announces Dividend

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

Insider Buying and Selling at BlackRock California Municipal Income Trust

In other BlackRock California Municipal Income Trust 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 stock was 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 $61,465,040.16. The trade was a 0.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Farther Finance Advisors LLC purchased a new stake in BlackRock California Municipal Income Trust in the 3rd quarter valued at about $170,000. B. Riley Wealth Advisors Inc. bought a new stake in shares of BlackRock California Municipal Income Trust during the first quarter valued at approximately $193,000. Cypress Wealth Services LLC purchased a new stake in shares of BlackRock California Municipal Income Trust in the third quarter valued at approximately $250,000. Wolverine Asset Management LLC bought a new position in BlackRock California Municipal Income Trust in the third quarter worth approximately $309,000. Finally, Sanctuary Advisors LLC bought a new position in BlackRock California Municipal Income Trust in the second quarter worth approximately $509,000.

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.