Sanders Morris Harris LLC Invests $479,000 in BlackRock California Municipal Income Trust (NYSE:BFZ)

Sanders Morris Harris LLC acquired a new position in BlackRock California Municipal Income Trust (NYSE:BFZ) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 40,502 shares of the company’s stock, valued at approximately $479,000.

Several other large investors have also recently added to or reduced their stakes in BFZ. Blue Bell Private Wealth Management LLC bought a new position in shares of BlackRock California Municipal Income Trust in the fourth quarter worth $33,000. Napa Wealth Management acquired a new stake in shares of BlackRock California Municipal Income Trust in the 4th quarter worth approximately $380,000. Clough Capital Partners L P lifted its stake in shares of BlackRock California Municipal Income Trust by 175.5% in the 3rd quarter. Clough Capital Partners L P now owns 34,536 shares of the company’s stock worth $355,000 after acquiring an additional 22,000 shares during the period. Raymond James & Associates boosted its holdings in shares of BlackRock California Municipal Income Trust by 146.4% in the fourth quarter. Raymond James & Associates now owns 46,279 shares of the company’s stock valued at $557,000 after acquiring an additional 27,500 shares in the last quarter. Finally, Karpus Management Inc. acquired a new position in shares of BlackRock California Municipal Income Trust during the fourth quarter valued at approximately $561,000.

BlackRock California Municipal Income Trust Stock Performance

NYSE BFZ traded up $0.11 on Friday, reaching $12.00. 50,144 shares of the stock traded hands, compared to its average volume of 60,753. BlackRock California Municipal Income Trust has a 12 month low of $9.86 and a 12 month high of $12.31. The firm’s fifty day simple moving average is $11.73 and its 200 day simple moving average is $11.76.

BlackRock California Municipal Income Trust Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a dividend of $0.059 per share. The ex-dividend date is Friday, June 14th. This represents a $0.71 annualized dividend and a yield of 5.90%. This is a boost from BlackRock California Municipal Income Trust’s previous monthly dividend of $0.05.

Insider Buying and Selling

In other BlackRock California Municipal Income Trust news, major shareholder Saba Capital Management, L.P. acquired 40,094 shares of BlackRock California Municipal Income Trust stock in a transaction dated Thursday, March 28th. The stock was bought at an average price of $11.82 per share, for a total transaction of $473,911.08. Following the transaction, the insider now owns 5,225,100 shares in the company, valued at approximately $61,760,682. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have bought a total of 69,977 shares of company stock valued at $825,573 over the last three months.

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.