BlackRock California Municipal Income Trust (NYSE:BFZ) Short Interest Up 145.5% in October

BlackRock California Municipal Income Trust (NYSE:BFZ) saw a significant 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 daily trading volume, of 87,000 shares, the days-to-cover ratio is presently 0.5 days.

BlackRock California Municipal Income Trust Trading Up 0.3 %

BlackRock California Municipal Income Trust stock opened at $11.69 on Friday. The business’s 50-day simple moving average is $11.97 and its 200 day simple moving average is $11.91. BlackRock California Municipal Income Trust has a 12-month low of $10.76 and a 12-month high of $12.31.

BlackRock California Municipal Income Trust Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be issued a $0.059 dividend. This represents a $0.71 annualized dividend and a yield of 6.06%. The ex-dividend date is Friday, November 15th.

Insider Activity

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

Hedge Funds Weigh In On BlackRock California Municipal Income Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. B. Riley Wealth Advisors Inc. bought a new position in BlackRock California Municipal Income Trust during the first quarter worth about $193,000. Sanctuary Advisors LLC bought a new position in BlackRock California Municipal Income Trust during the second quarter worth about $509,000. Trilogy Capital Inc. boosted its holdings in 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. Farther Finance Advisors LLC bought a new position in BlackRock California Municipal Income Trust during the third quarter worth about $170,000. Finally, Cypress Wealth Services LLC bought a new position in BlackRock California Municipal Income Trust during the third quarter worth about $250,000.

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.