Short Interest in BlackRock California Municipal Income Trust (NYSE:BFZ) Increases By 448.4%

BlackRock California Municipal Income Trust (NYSE:BFZ) was the target of a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 52,100 shares, a growth of 448.4% from the August 15th total of 9,500 shares. Based on an average daily volume of 63,500 shares, the days-to-cover ratio is presently 0.8 days.

Insider Activity

In related news, major shareholder Saba Capital Management, L.P. acquired 30,073 shares of BlackRock California Municipal Income Trust stock in a transaction on Tuesday, September 12th. The shares were purchased at an average cost of $10.95 per share, for a total transaction of $329,299.35. Following the purchase, the insider now directly owns 4,233,685 shares of the company’s stock, valued at approximately $46,358,850.75. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Hedge Funds Weigh In On BlackRock California Municipal Income Trust

Large investors have recently made changes to their positions in the business. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of BlackRock California Municipal Income Trust by 16.5% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 334,300 shares of the company’s stock worth $3,911,000 after buying an additional 47,294 shares during the period. Prime Capital Investment Advisors LLC acquired a new position in shares of BlackRock California Municipal Income Trust in the first quarter worth about $117,000. Global Retirement Partners LLC boosted its holdings in shares of BlackRock California Municipal Income Trust by 87.4% in the first quarter. Global Retirement Partners LLC now owns 32,159 shares of the company’s stock worth $383,000 after buying an additional 15,000 shares during the period. Guggenheim Capital LLC boosted its holdings in shares of BlackRock California Municipal Income Trust by 7.8% in the first quarter. Guggenheim Capital LLC now owns 643,136 shares of the company’s stock worth $7,525,000 after buying an additional 46,438 shares during the period. Finally, Core Wealth Partners LLC acquired a new position in shares of BlackRock California Municipal Income Trust in the first quarter worth about $179,000.

BlackRock California Municipal Income Trust Price Performance

NYSE:BFZ opened at $10.93 on Friday. BlackRock California Municipal Income Trust has a twelve month low of $10.03 and a twelve month high of $12.10. The firm’s 50-day simple moving average is $11.41.

BlackRock California Municipal Income Trust Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be given a dividend of $0.039 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.47 annualized dividend and a dividend yield of 4.28%.

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.