BlackRock California Municipal Income Trust (NYSE:BFZ) Short Interest Down 76.0% in January

BlackRock California Municipal Income Trust (NYSE:BFZ) was the recipient of a significant drop in short interest in the month of January. As of January 15th, there was short interest totalling 6,000 shares, a drop of 76.0% from the December 31st total of 25,000 shares. Based on an average trading volume of 116,200 shares, the short-interest ratio is presently 0.1 days.

BlackRock California Municipal Income Trust Stock Performance

Shares of BFZ traded down $0.02 during trading hours on Wednesday, hitting $11.21. The stock had a trading volume of 154,073 shares, compared to its average volume of 70,671. BlackRock California Municipal Income Trust has a fifty-two week low of $11.10 and a fifty-two week high of $12.23. The firm has a 50-day moving average price of $11.43 and a 200 day moving average price of $11.76.

BlackRock California Municipal Income Trust Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, February 3rd. Investors of record on Wednesday, January 15th will be issued a $0.059 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $0.71 dividend on an annualized basis and a yield of 6.32%.

Insider Buying and Selling

In other BlackRock California Municipal Income Trust news, major shareholder Saba Capital Management, L.P. sold 31,198 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $11.24, for a total value of $350,665.52. Following the completion of the transaction, the insider now directly owns 5,129,310 shares of the company’s stock, valued at approximately $57,653,444.40. The trade was a 0.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold a total of 101,071 shares of company stock valued at $1,156,774 over the last ninety days.

Hedge Funds Weigh In On BlackRock California Municipal Income Trust

A number of hedge funds have recently bought and sold shares of BFZ. Golden State Wealth Management LLC acquired a new position in shares of BlackRock California Municipal Income Trust during the 4th quarter worth approximately $118,000. Farther Finance Advisors LLC acquired a new position in BlackRock California Municipal Income Trust during the third quarter worth $170,000. Cypress Wealth Services LLC acquired a new position in BlackRock California Municipal Income Trust during the third quarter worth $250,000. Wolverine Asset Management LLC acquired a new stake in shares of BlackRock California Municipal Income Trust in the third quarter valued at about $309,000. Finally, Absolute Investment Advisers LLC purchased a new stake in shares of BlackRock California Municipal Income Trust during the fourth quarter worth about $387,000.

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.