BlackRock California Municipal Income Trust (NYSE:BFZ) to Issue $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 paid 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 Performance

BFZ traded down $0.08 on Wednesday, reaching $11.75. The company had a trading volume of 25,360 shares, compared to its average volume of 56,813. BlackRock California Municipal Income Trust has a one year low of $9.86 and a one year high of $12.31. The company has a fifty day moving average of $11.80 and a 200-day moving average of $11.28.

Insider Activity

In other news, major shareholder Saba Capital Management, L.P. bought 14,317 shares of the business’s stock in a transaction on Thursday, March 21st. The stock was purchased at an average cost of $11.68 per share, for a total transaction of $167,222.56. Following the completion of the transaction, the insider now directly owns 5,144,048 shares of the company’s stock, valued at approximately $60,082,480.64. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders purchased 113,888 shares of company stock worth $1,347,604 over the last three months.

Institutional Trading of BlackRock California Municipal Income Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. LPL Financial LLC boosted its stake in shares of BlackRock California Municipal Income Trust by 2.6% during the 3rd quarter. LPL Financial LLC now owns 43,428 shares of the company’s stock worth $447,000 after acquiring an additional 1,086 shares in the last quarter. Cetera Investment Advisers increased its stake 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 worth $448,000 after purchasing an additional 2,081 shares in the last quarter. Rockefeller Capital Management L.P. increased its stake in BlackRock California Municipal Income Trust by 2.8% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 125,101 shares of the company’s stock worth $1,484,000 after purchasing an additional 3,446 shares in the last quarter. UBS Group AG raised 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 buying an additional 5,789 shares during the period. Finally, Stifel Financial Corp lifted its stake in BlackRock California Municipal Income Trust by 31.4% during the first quarter. Stifel Financial Corp now owns 26,659 shares of the company’s stock valued at $312,000 after buying an additional 6,374 shares in the last quarter.

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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