BlackRock California Municipal Income Trust (NYSE:BFZ) Sees Large Growth in Short Interest

BlackRock California Municipal Income Trust (NYSE:BFZ) saw a significant increase in short interest during the month of January. As of January 15th, there was short interest totaling 12,915 shares, an increase of 143.1% from the December 31st total of 5,313 shares. Based on an average daily volume of 128,822 shares, the days-to-cover ratio is currently 0.1 days. Based on an average daily volume of 128,822 shares, the days-to-cover ratio is currently 0.1 days.

BlackRock California Municipal Income Trust Stock Up 0.2%

NYSE:BFZ traded up $0.02 during trading hours on Friday, hitting $11.19. 59,192 shares of the company were exchanged, compared to its average volume of 152,975. BlackRock California Municipal Income Trust has a one year low of $10.17 and a one year high of $11.47. The company has a fifty day simple moving average of $10.89 and a 200 day simple moving average of $10.79.

BlackRock California Municipal Income Trust Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, March 2nd. Investors of record on Friday, February 6th will be paid a $0.0507 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date of this dividend is Friday, February 6th.

Institutional Trading of BlackRock California Municipal Income Trust

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. raised its stake in BlackRock California Municipal Income Trust by 16.3% during the second quarter. Advisors Asset Management Inc. now owns 568,664 shares of the company’s stock worth $6,147,000 after buying an additional 79,735 shares during the last quarter. Trilogy Capital Inc. grew its holdings in BlackRock California Municipal Income Trust by 42.1% during the 3rd quarter. Trilogy Capital Inc. now owns 196,619 shares of the company’s stock worth $2,153,000 after acquiring an additional 58,283 shares during the period. Wolverine Asset Management LLC bought a new position in shares of BlackRock California Municipal Income Trust in the 3rd quarter worth about $798,000. Allspring Global Investments Holdings LLC raised its position in shares of BlackRock California Municipal Income Trust by 161.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 327,258 shares of the company’s stock worth $3,583,000 after acquiring an additional 201,972 shares in the last quarter. Finally, Guggenheim Capital LLC lifted its stake in shares of BlackRock California Municipal Income Trust by 15.5% in the 2nd quarter. Guggenheim Capital LLC now owns 652,161 shares of the company’s stock valued at $7,050,000 after purchasing an additional 87,599 shares during the period.

BlackRock California Municipal Income Trust Company Profile

BlackRock California Municipal Income Trust (NYSE: BFZ) is a diversified, closed-end management investment company that seeks to provide high current income exempt from federal and California state income taxes. Launched and managed by BlackRock Advisors, LLC, the fund primarily invests in a portfolio of investment-grade municipal obligations issued by California state and local governments. Its holdings include general obligation bonds, revenue bonds and other limited-obligation securities that finance infrastructure and public services across the state.

The fund’s investment objective emphasizes tax-exempt income through active portfolio management.