Hennion & Walsh Asset Management Inc. Has $3.37 Million Holdings in BlackRock California Municipal Income Trust (NYSE:BFZ)

Hennion & Walsh Asset Management Inc. trimmed its position in shares of BlackRock California Municipal Income Trust (NYSE:BFZ) by 20.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 285,446 shares of the company’s stock after selling 72,641 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in BlackRock California Municipal Income Trust were worth $3,374,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Napa Wealth Management bought a new position in BlackRock California Municipal Income Trust in the fourth quarter valued at approximately $380,000. Advisors Asset Management Inc. lifted its holdings in shares of BlackRock California Municipal Income Trust by 3.3% in the third quarter. Advisors Asset Management Inc. now owns 423,566 shares of the company’s stock worth $4,358,000 after acquiring an additional 13,578 shares during the last quarter. Sanders Morris Harris LLC acquired a new stake in shares of BlackRock California Municipal Income Trust in the 1st quarter valued at approximately $479,000. Raymond James & Associates boosted its stake in shares of BlackRock California Municipal Income Trust by 146.4% in the 4th quarter. Raymond James & Associates now owns 46,279 shares of the company’s stock valued at $557,000 after purchasing an additional 27,500 shares in the last quarter. Finally, Karpus Management Inc. bought a new stake in shares of BlackRock California Municipal Income Trust during the 4th quarter valued at approximately $561,000.

Insiders Place Their Bets

In related news, major shareholder Saba Capital Management, L.P. bought 6,109 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was acquired at an average cost of $11.76 per share, with a total value of $71,841.84. Following the transaction, the insider now directly owns 5,231,209 shares in the company, valued at $61,519,017.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

BlackRock California Municipal Income Trust Stock Performance

Shares of BlackRock California Municipal Income Trust stock opened at $11.97 on Friday. The company’s 50 day moving average price is $11.77 and its two-hundred day moving average price is $11.78. BlackRock California Municipal Income Trust has a fifty-two week low of $9.86 and a fifty-two week high of $12.31.

BlackRock California Municipal Income Trust Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a dividend of $0.059 per share. This is an increase from BlackRock California Municipal Income Trust’s previous monthly dividend of $0.05. The ex-dividend date is Friday, June 14th. This represents a $0.71 annualized dividend and a dividend yield of 5.91%.

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.