Wells Fargo & Company MN Lowers Position in BlackRock California Municipal Income Trust (NYSE:BFZ)

Wells Fargo & Company MN trimmed its position in shares of BlackRock California Municipal Income Trust (NYSE:BFZ) by 2.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 268,187 shares of the company’s stock after selling 5,611 shares during the period. Wells Fargo & Company MN’s holdings in BlackRock California Municipal Income Trust were worth $3,004,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in BFZ. Golden State Wealth Management LLC purchased a new stake in shares of BlackRock California Municipal Income Trust during the fourth quarter valued at approximately $118,000. Landscape Capital Management L.L.C. bought a new position in BlackRock California Municipal Income Trust in the 4th quarter valued at approximately $147,000. Commonwealth Equity Services LLC boosted its stake in BlackRock California Municipal Income Trust by 4.7% during the 4th quarter. Commonwealth Equity Services LLC now owns 22,902 shares of the company’s stock valued at $257,000 after purchasing an additional 1,037 shares during the last quarter. Wolverine Asset Management LLC increased its holdings in shares of BlackRock California Municipal Income Trust by 33.3% in the 4th quarter. Wolverine Asset Management LLC now owns 34,070 shares of the company’s stock worth $382,000 after purchasing an additional 8,505 shares in the last quarter. Finally, Absolute Investment Advisers LLC purchased a new position in shares of BlackRock California Municipal Income Trust in the fourth quarter worth $387,000.

BlackRock California Municipal Income Trust Stock Up 0.7 %

BlackRock California Municipal Income Trust stock opened at $10.46 on Thursday. BlackRock California Municipal Income Trust has a one year low of $10.17 and a one year high of $12.23. The business’s fifty day moving average is $10.96 and its 200 day moving average is $11.35.

BlackRock California Municipal Income Trust Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th will be issued a dividend of $0.059 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $0.71 annualized dividend and a dividend yield of 6.77%.

Insider Activity at BlackRock California Municipal Income Trust

In related news, major shareholder Saba Capital Management, L.P. sold 103,231 shares of the business’s stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $11.17, for a total transaction of $1,153,090.27. Following the completion of the transaction, the insider now directly owns 5,026,079 shares in the company, valued at approximately $56,141,302.43. The trade was a 2.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold a total of 241,357 shares of company stock worth $2,714,708 over the last quarter.

BlackRock California Municipal Income Trust 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.