BlackRock California Municipal Income Trust (NYSE:BFZ) Short Interest Up 47.9% in April

BlackRock California Municipal Income Trust (NYSE:BFZ) saw a significant growth in short interest in the month of April. As of April 15th, there was short interest totalling 42,000 shares, a growth of 47.9% from the March 31st total of 28,400 shares. Based on an average trading volume of 57,800 shares, the days-to-cover ratio is presently 0.7 days.

BlackRock California Municipal Income Trust Trading Up 0.5 %

BFZ traded up $0.06 on Friday, reaching $11.58. The company had a trading volume of 12,792 shares, compared to its average volume of 55,744. BlackRock California Municipal Income Trust has a 52-week low of $9.86 and a 52-week high of $12.31. The business has a 50 day simple moving average of $11.75 and a 200 day simple moving average of $11.42.

BlackRock California Municipal Income Trust Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th will be paid a dividend of $0.051 per share. This represents a $0.61 annualized dividend and a yield of 5.29%. The ex-dividend date of this dividend is Friday, April 12th.

Insider Activity

In other news, major shareholder Saba Capital Management, L.P. bought 14,317 shares of the stock in a transaction on Thursday, March 21st. The shares were acquired at an average cost of $11.68 per share, for a total transaction of $167,222.56. Following the purchase, the insider now directly owns 5,144,048 shares of the company’s stock, valued at approximately $60,082,480.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders bought 119,997 shares of company stock worth $1,419,446.

Hedge Funds Weigh In On BlackRock California Municipal Income Trust

Institutional investors have recently modified their holdings of the company. Clough Capital Partners L P boosted its position in BlackRock California Municipal Income Trust by 175.5% during the third quarter. Clough Capital Partners L P now owns 34,536 shares of the company’s stock valued at $355,000 after buying an additional 22,000 shares during the period. Oder Investment Management LLC grew its position in BlackRock California Municipal Income Trust by 2.4% during the 3rd quarter. Oder Investment Management LLC now owns 122,120 shares of the company’s stock worth $1,257,000 after acquiring an additional 2,820 shares during the last quarter. Saba Capital Management L.P. increased its stake in BlackRock California Municipal Income Trust by 7.4% in the 3rd quarter. Saba Capital Management L.P. now owns 4,513,628 shares of the company’s stock worth $46,445,000 after purchasing an additional 310,016 shares during the period. Advisors Asset Management Inc. boosted its stake in shares of BlackRock California Municipal Income Trust by 3.3% during the third quarter. Advisors Asset Management Inc. now owns 423,566 shares of the company’s stock valued at $4,358,000 after purchasing an additional 13,578 shares during the period. Finally, Raymond James & Associates boosted its stake in shares of BlackRock California Municipal Income Trust by 60.5% during the third quarter. Raymond James & Associates now owns 18,779 shares of the company’s stock valued at $193,000 after purchasing an additional 7,079 shares during the period.

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.