BlackRock California Municipal Income Trust (NYSE:BFZ) Short Interest Up 157.9% in April

BlackRock California Municipal Income Trust (NYSE:BFZ) was the recipient of a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 31,200 shares, an increase of 157.9% from the March 31st total of 12,100 shares. Based on an average trading volume of 89,400 shares, the short-interest ratio is presently 0.3 days.

Insiders Place Their Bets

In other BlackRock California Municipal Income Trust news, major shareholder Saba Capital Management, L.P. sold 20,717 shares of BlackRock California Municipal Income Trust stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $11.27, for a total value of $233,480.59. Following the transaction, the insider now owns 4,977,191 shares in the company, valued at approximately $56,092,942.57. The trade was a 0.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders have sold 210,159 shares of company stock worth $2,364,042.

Institutional Trading of BlackRock California Municipal Income Trust

Hedge funds have recently bought and sold shares of the company. Elequin Capital LP acquired a new stake in shares of BlackRock California Municipal Income Trust during the fourth quarter valued at approximately $52,000. Golden State Wealth Management LLC acquired a new stake in BlackRock California Municipal Income Trust during the 4th quarter valued at $118,000. Jane Street Group LLC purchased a new stake in shares of BlackRock California Municipal Income Trust in the fourth quarter valued at $138,000. Landscape Capital Management L.L.C. acquired a new stake in shares of BlackRock California Municipal Income Trust in the fourth quarter worth $147,000. Finally, Nomura Holdings Inc. purchased a new position in shares of BlackRock California Municipal Income Trust during the fourth quarter valued at $150,000.

BlackRock California Municipal Income Trust Stock Performance

Shares of NYSE BFZ traded down $0.04 during mid-day trading on Monday, reaching $10.67. The company had a trading volume of 23,725 shares, compared to its average volume of 91,070. The company has a 50-day moving average price of $10.94 and a two-hundred day moving average price of $11.32. BlackRock California Municipal Income Trust has a 1-year low of $10.17 and a 1-year high of $12.23.

BlackRock California Municipal Income Trust Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 15th will be paid a $0.059 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $0.71 dividend on an annualized basis and a yield of 6.64%.

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.