BlackRock California Municipal Income Trust (BFZ) to Issue Monthly Dividend of $0.05 on March 1st

BlackRock California Municipal Income Trust (NYSE:BFZGet Free Report) declared a monthly dividend on Tuesday, November 14th, Wall Street Journal reports. Shareholders of record on Thursday, February 15th will be paid a dividend of 0.051 per share on Friday, March 1st. This represents a $0.61 annualized dividend and a yield of 5.21%. The ex-dividend date is Wednesday, February 14th.

BlackRock California Municipal Income Trust Stock Performance

Shares of NYSE BFZ opened at $11.75 on Monday. The stock’s fifty day moving average is $11.75 and its 200 day moving average is $11.14. BlackRock California Municipal Income Trust has a 52 week low of $9.86 and a 52 week high of $12.31.

Insiders Place Their Bets

In other news, major shareholder Saba Capital Management, L.P. purchased 8,907 shares of BlackRock California Municipal Income Trust stock in a transaction that occurred on Tuesday, November 28th. The shares were acquired at an average price of $11.02 per share, for a total transaction of $98,155.14. Following the transaction, the insider now owns 4,967,436 shares of the company’s stock, valued at approximately $54,741,144.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have bought 135,851 shares of company stock worth $1,540,757 over the last ninety days.

Institutional Trading of BlackRock California Municipal Income Trust

Several institutional investors and hedge funds have recently modified their holdings of BFZ. Integrated Wealth Concepts LLC acquired a new stake in BlackRock California Municipal Income Trust in the second quarter valued at approximately $141,000. Quarry LP bought a new stake in BlackRock California Municipal Income Trust during the 2nd quarter worth $149,000. Envestnet Asset Management Inc. increased its holdings in BlackRock California Municipal Income Trust by 76.1% in the 3rd quarter. Envestnet Asset Management Inc. now owns 18,514 shares of the company’s stock worth $191,000 after purchasing an additional 8,000 shares in the last quarter. JPMorgan Chase & Co. raised its position in BlackRock California Municipal Income Trust by 186.8% in the first quarter. JPMorgan Chase & Co. now owns 23,660 shares of the company’s stock valued at $277,000 after purchasing an additional 15,410 shares during the last quarter. Finally, Stifel Financial Corp boosted its stake in shares of BlackRock California Municipal Income Trust by 31.4% during the first quarter. Stifel Financial Corp now owns 26,659 shares of the company’s stock valued at $312,000 after purchasing an additional 6,374 shares in the last quarter.

BlackRock California Municipal Income Trust Company Profile

(Get Free Report)

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.

Featured Stories

Dividend History for BlackRock California Municipal Income Trust (NYSE:BFZ)

Receive News & Ratings for BlackRock California Municipal Income Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlackRock California Municipal Income Trust and related companies with MarketBeat.com's FREE daily email newsletter.