BlackRock California Municipal Income Trust (NYSE:BFZ) Short Interest Update

BlackRock California Municipal Income Trust (NYSE:BFZ) saw a large drop in short interest in the month of August. As of August 31st, there was short interest totalling 15,600 shares, a drop of 5.5% from the August 15th total of 16,500 shares. Based on an average daily volume of 85,800 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BFZ. Karpus Management Inc. bought a new stake in shares of BlackRock California Municipal Income Trust in the 4th quarter valued at about $561,000. Advisors Asset Management Inc. raised its stake in BlackRock California Municipal Income Trust by 10.6% in the first quarter. Advisors Asset Management Inc. now owns 476,270 shares of the company’s stock worth $5,630,000 after buying an additional 45,611 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in BlackRock California Municipal Income Trust during the second quarter worth $509,000. Sanders Morris Harris LLC bought a new stake in BlackRock California Municipal Income Trust during the 1st quarter valued at $479,000. Finally, Napa Wealth Management purchased a new position in shares of BlackRock California Municipal Income Trust in the 4th quarter valued at $380,000.

BlackRock California Municipal Income Trust Stock Performance

Shares of BFZ stock opened at $12.11 on Thursday. BlackRock California Municipal Income Trust has a twelve month low of $9.86 and a twelve month high of $12.31. The stock has a fifty day simple moving average of $11.98 and a two-hundred day simple moving average of $11.86.

BlackRock California Municipal Income Trust Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 15th will be paid a $0.059 dividend. This represents a $0.71 dividend on an annualized basis and a yield of 5.85%. The ex-dividend date is Tuesday, October 15th.

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.