BlackRock California Municipal Income Trust (BFZ) to Issue Monthly Dividend of $0.06 on December 1st

BlackRock California Municipal Income Trust (NYSE:BFZ) announced a monthly dividend on Monday, November 3rd. Investors of record on Friday, November 14th will be given a dividend of 0.059 per share on Monday, December 1st. This represents a c) annualized dividend and a dividend yield of 6.4%. The ex-dividend date is Friday, November 14th.

BlackRock California Municipal Income Trust Stock Down 0.7%

NYSE BFZ opened at $10.99 on Wednesday. The company has a fifty day simple moving average of $10.84 and a 200 day simple moving average of $10.74. BlackRock California Municipal Income Trust has a 1 year low of $10.17 and a 1 year high of $11.89.

Insider Activity

In other BlackRock California Municipal Income Trust news, major shareholder Saba Capital Management, L.P. sold 23,604 shares of the stock in a transaction on Friday, September 12th. The shares were sold at an average price of $10.95, for a total value of $258,463.80. Following the completion of the sale, the insider directly owned 2,997,865 shares of the company’s stock, valued at $32,826,621.75. This represents a 0.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders have sold 998,130 shares of company stock worth $10,576,186.

Institutional Trading of BlackRock California Municipal Income Trust

Hedge funds have recently bought and sold shares of the stock. D.A. Davidson & CO. bought a new stake in BlackRock California Municipal Income Trust in the 1st quarter valued at $376,000. Cetera Investment Advisers bought a new stake in BlackRock California Municipal Income Trust in the 1st quarter valued at $569,000. LPL Financial LLC boosted its holdings in BlackRock California Municipal Income Trust by 7.7% in the 1st quarter. LPL Financial LLC now owns 228,402 shares of the company’s stock valued at $2,508,000 after purchasing an additional 16,406 shares during the period. Ieq Capital LLC bought a new stake in BlackRock California Municipal Income Trust in the 1st quarter valued at $14,681,000. Finally, Oder Investment Management LLC boosted its holdings in BlackRock California Municipal Income Trust by 2.2% in the 1st quarter. Oder Investment Management LLC now owns 107,139 shares of the company’s stock valued at $1,176,000 after purchasing an additional 2,285 shares during the 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.