BlackRock California Municipal Income Trust (NYSE:BFZ) Plans $0.05 Monthly Dividend

BlackRock California Municipal Income Trust (NYSE:BFZGet Free Report) declared a monthly dividend on Monday, April 1st, Zacks reports. Shareholders of record on Monday, April 15th will be given a dividend of 0.051 per share on Wednesday, May 1st. This represents a $0.61 dividend on an annualized basis and a yield of 5.21%. The ex-dividend date is Friday, April 12th.

BlackRock California Municipal Income Trust Stock Down 0.7 %

Shares of BFZ stock traded down $0.08 on Wednesday, hitting $11.75. 25,360 shares of the stock were exchanged, compared to its average volume of 56,818. BlackRock California Municipal Income Trust has a fifty-two week low of $9.86 and a fifty-two week high of $12.31. The business has a 50-day moving average of $11.80 and a 200 day moving average of $11.28.

Insider Activity at BlackRock California Municipal Income Trust

In other news, major shareholder Saba Capital Management, L.P. acquired 35,703 shares of BlackRock California Municipal Income Trust stock in a transaction dated Tuesday, March 12th. The stock was bought at an average price of $11.95 per share, for a total transaction of $426,650.85. Following the completion of the acquisition, the insider now directly owns 5,129,731 shares in the company, valued at approximately $61,300,285.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last ninety days, insiders bought 113,888 shares of company stock worth $1,347,604.

Hedge Funds Weigh In On BlackRock California Municipal Income Trust

A number of institutional investors have recently modified their holdings of BFZ. LPL Financial LLC lifted its stake in shares of BlackRock California Municipal Income Trust by 2.6% in the 3rd quarter. LPL Financial LLC now owns 43,428 shares of the company’s stock valued at $447,000 after acquiring an additional 1,086 shares during the last quarter. Cetera Investment Advisers raised its holdings in BlackRock California Municipal Income Trust by 5.7% in the 1st quarter. Cetera Investment Advisers now owns 38,317 shares of the company’s stock valued at $448,000 after buying an additional 2,081 shares during the last quarter. Rockefeller Capital Management L.P. boosted its position in BlackRock California Municipal Income Trust by 2.8% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 125,101 shares of the company’s stock worth $1,484,000 after buying an additional 3,446 shares during the period. UBS Group AG grew its holdings in BlackRock California Municipal Income Trust by 9.0% during the 3rd quarter. UBS Group AG now owns 70,000 shares of the company’s stock worth $720,000 after acquiring an additional 5,789 shares during the last quarter. Finally, Stifel Financial Corp increased its position in BlackRock California Municipal Income Trust by 31.4% in the 1st quarter. Stifel Financial Corp now owns 26,659 shares of the company’s stock valued at $312,000 after acquiring an additional 6,374 shares during the period.

BlackRock California Municipal Income Trust Company Profile

(Get Free Report)

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.

Further Reading

Dividend History for BlackRock California Municipal Income Trust (NYSE:BFZ)

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