City of London Investment Management Co. Ltd. Reduces Holdings in BlackRock California Municipal Income Trust (NYSE:BFZ)

City of London Investment Management Co. Ltd. reduced its position in BlackRock California Municipal Income Trust (NYSE:BFZ) by 34.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 224,833 shares of the company’s stock after selling 116,394 shares during the period. City of London Investment Management Co. Ltd.’s holdings in BlackRock California Municipal Income Trust were worth $2,691,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of BFZ. B. Riley Wealth Advisors Inc. acquired a new stake in BlackRock California Municipal Income Trust during the 1st quarter valued at approximately $193,000. Napa Wealth Management acquired a new stake in shares of BlackRock California Municipal Income Trust during the fourth quarter worth approximately $380,000. Sanders Morris Harris LLC acquired a new stake in shares of BlackRock California Municipal Income Trust during the first quarter worth approximately $479,000. Karpus Management Inc. bought a new stake in shares of BlackRock California Municipal Income Trust in the fourth quarter worth $561,000. Finally, Advisors Asset Management Inc. raised its holdings 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 valued at $5,630,000 after acquiring an additional 45,611 shares in the last quarter.

BlackRock California Municipal Income Trust Price Performance

Shares of BFZ stock opened at $12.16 on Monday. The firm has a fifty day moving average of $11.97 and a two-hundred day moving average of $11.85. BlackRock California Municipal Income Trust has a 1-year low of $9.86 and a 1-year high of $12.31.

BlackRock California Municipal Income Trust Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 15th will be issued a $0.059 dividend. This represents a $0.71 annualized dividend and a yield of 5.82%. The ex-dividend date is Tuesday, October 15th.

BlackRock California Municipal Income Trust 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.