BlackRock California Municipal Income Trust (NYSE:BFZ) Short Interest Down 76.0% in December

BlackRock California Municipal Income Trust (NYSE:BFZ) was the target of a significant decline in short interest in December. As of December 31st, there was short interest totalling 6,000 shares, a decline of 76.0% from the December 15th total of 25,000 shares. Based on an average daily volume of 116,200 shares, the days-to-cover ratio is currently 0.1 days.

BlackRock California Municipal Income Trust Trading Down 1.9 %

Shares of NYSE:BFZ traded down $0.22 during trading on Tuesday, reaching $11.28. 33,093 shares of the company traded hands, compared to its average volume of 67,224. The firm has a fifty day simple moving average of $11.52 and a 200 day simple moving average of $11.82. 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 Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, February 3rd. Investors of record on Wednesday, January 15th will be paid a $0.059 dividend. This represents a $0.71 dividend on an annualized basis and a dividend yield of 6.28%. The ex-dividend date of this dividend is Wednesday, January 15th.

Insider Activity at BlackRock California Municipal Income Trust

In related news, major shareholder Saba Capital Management, L.P. sold 6,313 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $11.89, for a total transaction of $75,061.57. Following the completion of the sale, the insider now directly owns 5,233,255 shares of the company’s stock, valued at $62,223,401.95. This represents a 0.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Institutional Trading of BlackRock California Municipal Income Trust

Large investors have recently modified their holdings of the company. Sanctuary Advisors LLC bought a new stake in BlackRock California Municipal Income Trust during the second quarter valued at about $509,000. Farther Finance Advisors LLC bought a new stake in BlackRock California Municipal Income Trust during the 3rd quarter valued at approximately $170,000. Trilogy Capital Inc. boosted its stake in 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 valued at $1,297,000 after purchasing an additional 79,952 shares during the period. Cypress Wealth Services LLC acquired a new stake in BlackRock California Municipal Income Trust in the 3rd quarter valued at approximately $250,000. Finally, Wolverine Asset Management LLC bought a new position in BlackRock California Municipal Income Trust in the 3rd quarter worth approximately $309,000.

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.