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

BlackRock California Municipal Income Trust (NYSE:BFZ) was the target of a significant increase in short interest in December. As of December 15th, there was short interest totalling 25,000 shares, an increase 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.

BlackRock California Municipal Income Trust Price Performance

Shares of NYSE BFZ opened at $11.26 on Friday. The company’s fifty day moving average price is $11.66 and its 200 day moving average price is $11.88. BlackRock California Municipal Income Trust has a 1 year low of $11.17 and a 1 year high of $12.31.

BlackRock California Municipal Income Trust Dividend Announcement

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 paid a $0.059 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.71 annualized dividend and a dividend yield of 6.29%.

Insider Transactions at BlackRock California Municipal Income Trust

In other news, major shareholder Saba Capital Management, L.P. sold 6,313 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $11.89, for a total value of $75,061.57. Following the transaction, the insider now directly owns 5,233,255 shares of the company’s stock, valued at approximately $62,223,401.95. This represents a 0.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Institutional Trading of BlackRock California Municipal Income Trust

Several institutional investors have recently bought and sold shares of BFZ. Advisors Asset Management Inc. increased its stake in shares of BlackRock California Municipal Income Trust by 3.8% during the third quarter. Advisors Asset Management Inc. now owns 463,700 shares of the company’s stock worth $5,606,000 after purchasing an additional 17,144 shares in the last quarter. Trilogy Capital Inc. raised its holdings in shares of BlackRock California Municipal Income Trust by 292.8% during the third quarter. Trilogy Capital Inc. now owns 107,261 shares of the company’s stock valued at $1,297,000 after acquiring an additional 79,952 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in shares of BlackRock California Municipal Income Trust in the second quarter valued at approximately $509,000. Wolverine Asset Management LLC acquired a new stake in shares of BlackRock California Municipal Income Trust in the third quarter worth approximately $309,000. Finally, Cypress Wealth Services LLC acquired a new position in BlackRock California Municipal Income Trust in the 3rd quarter valued at $250,000.

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.