Short Interest in BlackRock California Municipal Income Trust (NYSE:BFZ) Declines By 76.0%

BlackRock California Municipal Income Trust (NYSE:BFZ) saw a large 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 daily trading volume, of 116,200 shares, the short-interest ratio is presently 0.1 days.

BlackRock California Municipal Income Trust Stock Down 0.2 %

BlackRock California Municipal Income Trust stock traded down $0.02 during mid-day trading on Wednesday, reaching $11.21. 154,073 shares of the company were exchanged, compared to its average volume of 70,671. The business has a fifty day moving average of $11.43 and a 200 day moving average of $11.76. BlackRock California Municipal Income Trust has a 12-month low of $11.10 and a 12-month high of $12.23.

BlackRock California Municipal Income Trust Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, February 3rd. Investors of record on Wednesday, January 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 6.32%. The ex-dividend date of this dividend is Wednesday, January 15th.

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 company’s stock in a transaction 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 sale, the insider now directly owns 5,129,310 shares in the company, valued at approximately $57,653,444.40. This represents a 0.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 101,071 shares of company stock valued at $1,156,774 in the last 90 days.

Hedge Funds Weigh In On BlackRock California Municipal Income Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC acquired a new stake in BlackRock California Municipal Income Trust in the second quarter valued at approximately $509,000. Cypress Wealth Services LLC acquired a new stake in shares of BlackRock California Municipal Income Trust in the 3rd quarter worth $250,000. Trilogy Capital Inc. grew its stake in BlackRock California Municipal Income Trust by 292.8% during the 3rd quarter. Trilogy Capital Inc. now owns 107,261 shares of the company’s stock worth $1,297,000 after buying an additional 79,952 shares during the last quarter. Farther Finance Advisors LLC acquired a new position in BlackRock California Municipal Income Trust during the 3rd quarter valued at about $170,000. Finally, Wolverine Asset Management LLC purchased a new stake in BlackRock California Municipal Income Trust in the third quarter valued at about $309,000.

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.