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

BlackRock California Municipal Income Trust (NYSE:BFZ) was the target of a large increase in short interest in December. As of December 15th, there was short interest totalling 25,000 shares, an increase of 133.6% from the November 30th total of 10,700 shares. Based on an average daily volume of 110,400 shares, the days-to-cover ratio is presently 0.2 days.

BlackRock California Municipal Income Trust Stock Performance

NYSE:BFZ opened at $11.17 on Friday. The stock’s 50-day moving average is $11.64 and its 200-day moving average is $11.87. BlackRock California Municipal Income Trust has a 1-year low of $11.10 and a 1-year high of $12.23.

BlackRock California Municipal Income Trust Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be given a $0.059 dividend. This represents a $0.71 annualized dividend and a yield of 6.34%. The ex-dividend date of this dividend is Monday, December 16th.

Insider Buying and Selling

In related news, major shareholder Saba Capital Management, L.P. sold 30,293 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $11.82, for a total transaction of $358,063.26. Following the sale, the insider now owns 5,200,088 shares in the company, valued at $61,465,040.16. The trade was a 0.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Hedge Funds Weigh In On BlackRock California Municipal Income Trust

A number of hedge funds have recently modified their holdings of BFZ. Trilogy Capital Inc. increased its holdings in BlackRock California Municipal Income Trust by 292.8% in the third quarter. Trilogy Capital Inc. now owns 107,261 shares of the company’s stock valued at $1,297,000 after purchasing an additional 79,952 shares during the period. Sanctuary Advisors LLC acquired a new stake in shares of BlackRock California Municipal Income Trust in the second quarter valued at about $509,000. Wolverine Asset Management LLC acquired a new position in shares of BlackRock California Municipal Income Trust in the third quarter worth approximately $309,000. Cypress Wealth Services LLC acquired a new position in shares of BlackRock California Municipal Income Trust in the third quarter worth approximately $250,000. Finally, Advisors Asset Management Inc. boosted its holdings in BlackRock California Municipal Income Trust by 3.8% in the third quarter. Advisors Asset Management Inc. now owns 463,700 shares of the company’s stock valued at $5,606,000 after acquiring an additional 17,144 shares during the last quarter.

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.