446,718 Shares in BlackRock California Municipal Income Trust (NYSE:BFZ) Acquired by Sit Investment Associates Inc.

Sit Investment Associates Inc. purchased a new position in shares of BlackRock California Municipal Income Trust (NYSE:BFZ) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 446,718 shares of the company’s stock, valued at approximately $5,298,000.

Several other hedge funds have also made changes to their positions in the business. Prime Capital Investment Advisors LLC purchased a new stake in BlackRock California Municipal Income Trust during the first quarter valued at about $117,000. Global Retirement Partners LLC increased its position in BlackRock California Municipal Income Trust by 87.4% during the 1st quarter. Global Retirement Partners LLC now owns 32,159 shares of the company’s stock worth $383,000 after purchasing an additional 15,000 shares in the last quarter. Guggenheim Capital LLC raised its holdings in 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 valued at $7,525,000 after buying an additional 46,438 shares during the period. Core Wealth Partners LLC acquired a new position in BlackRock California Municipal Income Trust during the first quarter valued at approximately $179,000. Finally, Advisors Asset Management Inc. grew its stake in BlackRock California Municipal Income Trust by 12.2% during the first quarter. Advisors Asset Management Inc. now owns 414,201 shares of the company’s stock worth $4,846,000 after buying an additional 45,028 shares during the period.

Insider Transactions at BlackRock California Municipal Income Trust

In related news, major shareholder Saba Capital Management, L.P. bought 30,073 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The shares were acquired at an average cost of $10.95 per share, for a total transaction of $329,299.35. Following the acquisition, the insider now owns 4,233,685 shares in the company, valued at approximately $46,358,850.75. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders purchased 328,862 shares of company stock valued at $3,417,111 over the last quarter.

BlackRock California Municipal Income Trust Price Performance

Shares of BFZ stock opened at $10.81 on Thursday. The company’s fifty day simple moving average is $10.42 and its 200-day simple moving average is $11.21. BlackRock California Municipal Income Trust has a 52 week low of $9.86 and a 52 week high of $12.10.

BlackRock California Municipal Income Trust Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be paid a dividend of $0.051 per share. This represents a $0.61 dividend on an annualized basis and a dividend yield of 5.66%. The ex-dividend date is Thursday, December 14th. This is a boost from BlackRock California Municipal Income Trust’s previous monthly dividend of $0.04.

About BlackRock California Municipal Income Trust

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.