BlackRock California Municipal Income Trust (NYSE:BFZ) to Issue $0.06 Monthly Dividend

BlackRock California Municipal Income Trust (NYSE:BFZ) declared a monthly dividend on Thursday, July 3rd, Wall Street Journal reports. Shareholders of record on Tuesday, July 15th will be given a dividend of 0.059 per share on Friday, August 1st. This represents a $0.71 annualized dividend and a yield of 6.56%. The ex-dividend date is Tuesday, July 15th.

BlackRock California Municipal Income Trust Trading Down 0.5%

BFZ stock opened at $10.79 on Friday. The business’s 50-day moving average price is $10.82 and its two-hundred day moving average price is $10.98. BlackRock California Municipal Income Trust has a 1-year low of $10.17 and a 1-year high of $12.23.

Insiders Place Their Bets

In other BlackRock California Municipal Income Trust news, major shareholder Saba Capital Management, L.P. sold 43,937 shares of BlackRock California Municipal Income Trust stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $10.80, for a total value of $474,519.60. Following the sale, the insider owned 4,692,717 shares of the company’s stock, valued at $50,681,343.60. This trade represents a 0.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold 173,097 shares of company stock worth $1,873,192 in the last 90 days.

Institutional Trading of BlackRock California Municipal Income Trust

An institutional investor recently raised its position in BlackRock California Municipal Income Trust stock. Royal Bank of Canada raised its position in BlackRock California Municipal Income Trust (NYSE:BFZ) by 472.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 272,999 shares of the company’s stock after purchasing an additional 225,323 shares during the quarter. Royal Bank of Canada’s holdings in BlackRock California Municipal Income Trust were worth $2,998,000 at the end of the most recent reporting period.

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.