BlackRock California Municipal Income Trust (NYSE:BFZ) to Issue Monthly Dividend of $0.05

BlackRock California Municipal Income Trust (NYSE:BFZGet Free Report) declared a monthly dividend on Monday, April 1st, Zacks reports. Stockholders of record on Monday, April 15th will be given a dividend of 0.051 per share on Wednesday, May 1st. This represents a $0.61 dividend on an annualized basis and a dividend yield of 5.20%. The ex-dividend date is Friday, April 12th.

BlackRock California Municipal Income Trust Stock Down 0.6 %

Shares of NYSE BFZ traded down $0.07 during midday trading on Wednesday, reaching $11.76. 9,037 shares of the stock traded hands, compared to its average volume of 56,558. BlackRock California Municipal Income Trust has a one year low of $9.86 and a one year high of $12.31. The company’s 50 day moving average is $11.80 and its 200 day moving average is $11.28.

Insider Buying and Selling

In related news, major shareholder Saba Capital Management, L.P. purchased 14,317 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was bought at an average cost of $11.68 per share, for a total transaction of $167,222.56. Following the completion of the transaction, the insider now directly owns 5,144,048 shares in the company, valued at $60,082,480.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders purchased a total of 113,888 shares of company stock worth $1,347,604 over the last three months.

Institutional Trading of BlackRock California Municipal Income Trust

Several institutional investors and hedge funds have recently made changes to their positions in the business. Woodline Partners LP increased its stake in shares of BlackRock California Municipal Income Trust by 1,207.5% during the second quarter. Woodline Partners LP now owns 202,382 shares of the company’s stock valued at $2,400,000 after buying an additional 186,904 shares during the period. Rockefeller Capital Management L.P. purchased a new stake in shares of BlackRock California Municipal Income Trust during the first quarter worth about $1,423,000. UBS Group AG grew its stake in shares of BlackRock California Municipal Income Trust by 102.5% during the fourth quarter. UBS Group AG now owns 141,776 shares of the company’s stock worth $1,706,000 after acquiring an additional 71,776 shares during the last quarter. SkyView Investment Advisors LLC purchased a new stake in shares of BlackRock California Municipal Income Trust during the first quarter worth about $585,000. Finally, Advisors Asset Management Inc. grew its stake in shares of BlackRock California Municipal Income Trust by 12.2% during the first quarter. Advisors Asset Management Inc. now owns 414,201 shares of the company’s stock worth $4,846,000 after acquiring an additional 45,028 shares during the last quarter.

About BlackRock California Municipal Income Trust

(Get Free Report)

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.

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Dividend History for BlackRock California Municipal Income Trust (NYSE:BFZ)

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