Short Interest in BlackRock California Municipal Income Trust (NYSE:BFZ) Expands By 145.5%

BlackRock California Municipal Income Trust (NYSE:BFZ) was the target of a large increase in short interest in 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 trading volume of 87,000 shares, the days-to-cover ratio is currently 0.5 days.

BlackRock California Municipal Income Trust Trading Down 0.9 %

BFZ stock traded down $0.10 during trading on Friday, hitting $11.59. 23,172 shares of the stock traded hands, compared to its average volume of 71,270. BlackRock California Municipal Income Trust has a one year low of $10.89 and a one year high of $12.31. The company has a 50 day simple moving average of $11.97 and a 200 day simple moving average of $11.91.

BlackRock California Municipal Income Trust Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be paid a $0.059 dividend. This represents a $0.71 dividend on an annualized basis and a dividend yield of 6.11%. The ex-dividend date of this dividend is Friday, November 15th.

Insider Activity at BlackRock California Municipal Income Trust

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

Hedge Funds Weigh In On BlackRock California Municipal Income Trust

A number of institutional investors have recently modified their holdings of the stock. Advisors Asset Management Inc. raised its stake in shares of 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 worth $5,606,000 after acquiring an additional 17,144 shares during the last quarter. Wolverine Asset Management LLC bought a new stake in shares of BlackRock California Municipal Income Trust during the third quarter worth approximately $309,000. Farther Finance Advisors LLC bought a new stake in shares of BlackRock California Municipal Income Trust during the third quarter worth approximately $170,000. Trilogy Capital Inc. raised its stake in shares of BlackRock California Municipal Income Trust by 292.8% during the third quarter. Trilogy Capital Inc. now owns 107,261 shares of the company’s stock worth $1,297,000 after buying an additional 79,952 shares during the last quarter. Finally, Cypress Wealth Services LLC bought a new stake in shares of BlackRock California Municipal Income Trust during the third quarter worth approximately $250,000.

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.