BlackRock California Municipal Income Trust (NYSE:BFZ) Short Interest Up 145.5% in October

BlackRock California Municipal Income Trust (NYSE:BFZ) was the target of a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 45,900 shares, an increase of 145.5% from the October 15th total of 18,700 shares. Based on an average daily trading volume, of 87,000 shares, the days-to-cover ratio is presently 0.5 days.

BlackRock California Municipal Income Trust Stock Up 0.3 %

NYSE:BFZ opened at $11.69 on Friday. BlackRock California Municipal Income Trust has a twelve month low of $10.76 and a twelve month high of $12.31. The stock’s 50 day moving average price is $11.97 and its two-hundred day moving average price is $11.91.

BlackRock California Municipal Income Trust Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be given a dividend of $0.059 per share. This represents a $0.71 annualized dividend and a dividend yield of 6.06%. The ex-dividend date of this dividend is Friday, November 15th.

Insider Activity at BlackRock California Municipal Income Trust

In other BlackRock California Municipal Income Trust news, major shareholder Saba Capital Management, L.P. sold 6,313 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $11.89, for a total transaction of $75,061.57. Following the transaction, the insider now owns 5,233,255 shares of the company’s stock, valued at $62,223,401.95. The trade was a 0.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in BFZ. Advisors Asset Management Inc. increased its position in shares of BlackRock California Municipal Income Trust by 10.6% during the 1st quarter. Advisors Asset Management Inc. now owns 476,270 shares of the company’s stock worth $5,630,000 after purchasing an additional 45,611 shares during the last quarter. B. Riley Wealth Advisors Inc. acquired a new position in shares of BlackRock California Municipal Income Trust during the 1st quarter worth approximately $193,000. Sanctuary Advisors LLC acquired a new position in shares of BlackRock California Municipal Income Trust during the 2nd quarter worth approximately $509,000. Cypress Wealth Services LLC acquired a new position in shares of BlackRock California Municipal Income Trust during the 3rd quarter worth approximately $250,000. Finally, Trilogy Capital Inc. increased its holdings in shares of 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 acquiring an additional 79,952 shares during the last quarter.

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.