BlackRock California Municipal Income Trust $BFZ Stake Increased by Advisors Asset Management Inc.

Advisors Asset Management Inc. boosted its stake in BlackRock California Municipal Income Trust (NYSE:BFZ) by 16.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 568,664 shares of the company’s stock after acquiring an additional 79,735 shares during the period. Advisors Asset Management Inc.’s holdings in BlackRock California Municipal Income Trust were worth $6,147,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in BFZ. Cetera Investment Advisers bought a new stake in shares of BlackRock California Municipal Income Trust in the 1st quarter worth about $569,000. LPL Financial LLC grew its stake in BlackRock California Municipal Income Trust by 7.7% in the first quarter. LPL Financial LLC now owns 228,402 shares of the company’s stock worth $2,508,000 after purchasing an additional 16,406 shares in the last quarter. Shufro Rose & Co. LLC bought a new stake in BlackRock California Municipal Income Trust in the first quarter valued at about $110,000. Wolverine Asset Management LLC raised its stake in BlackRock California Municipal Income Trust by 162.0% during the first quarter. Wolverine Asset Management LLC now owns 89,271 shares of the company’s stock valued at $980,000 after buying an additional 55,201 shares in the last quarter. Finally, Oder Investment Management LLC lifted its holdings in BlackRock California Municipal Income Trust by 2.2% during the 1st quarter. Oder Investment Management LLC now owns 107,139 shares of the company’s stock worth $1,176,000 after buying an additional 2,285 shares during the last quarter.

BlackRock California Municipal Income Trust Trading Down 0.2%

Shares of BFZ opened at $10.94 on Thursday. BlackRock California Municipal Income Trust has a 52 week low of $10.17 and a 52 week high of $11.89. The stock has a 50 day moving average of $10.92 and a 200-day moving average of $10.76.

BlackRock California Municipal Income Trust Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 14th will be paid a dividend of $0.059 per share. The ex-dividend date is Friday, November 14th. This represents a c) annualized dividend and a yield of 6.5%.

Insider Buying and Selling at BlackRock California Municipal Income Trust

In other news, major shareholder Saba Capital Management, L.P. sold 23,604 shares of the firm’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $10.95, for a total value of $258,463.80. Following the transaction, the insider directly owned 2,997,865 shares in the company, valued at approximately $32,826,621.75. This trade represents a 0.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold 662,672 shares of company stock worth $7,046,444 over the last 90 days.

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.