BlackRock California Municipal Income Trust (NYSE:BFZ) Shares Down 0.4% – What’s Next?

BlackRock California Municipal Income Trust (NYSE:BFZ)’s stock price traded down 0.4% on Thursday . The stock traded as low as $11.07 and last traded at $11.10. 50,093 shares were traded during trading, a decline of 67% from the average session volume of 149,848 shares. The stock had previously closed at $11.15.

BlackRock California Municipal Income Trust Stock Performance

The business has a 50 day moving average of $11.02 and a 200-day moving average of $10.89.

BlackRock California Municipal Income Trust Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Monday, March 2nd. Investors of record on Friday, February 6th were issued a dividend of $0.0507 per share. This represents a c) dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date was Friday, February 6th.

Hedge Funds Weigh In On BlackRock California Municipal Income Trust

A number of large investors have recently added to or reduced their stakes in BFZ. Rivernorth Capital Management LLC grew its holdings in shares of BlackRock California Municipal Income Trust by 199.0% during the fourth quarter. Rivernorth Capital Management LLC now owns 977,578 shares of the company’s stock worth $10,499,000 after buying an additional 650,601 shares in the last quarter. Fiera Capital Corp bought a new position in shares of BlackRock California Municipal Income Trust during the 4th quarter worth approximately $2,881,000. Royal Bank of Canada grew its stake in shares of BlackRock California Municipal Income Trust by 472.6% during the 1st quarter. Royal Bank of Canada now owns 272,999 shares of the company’s stock worth $2,998,000 after acquiring an additional 225,323 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of BlackRock California Municipal Income Trust by 161.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 327,258 shares of the company’s stock valued at $3,583,000 after purchasing an additional 201,972 shares during the last quarter. Finally, Sit Investment Associates Inc. lifted its position in shares of BlackRock California Municipal Income Trust by 10,249.8% in the fourth quarter. Sit Investment Associates Inc. now owns 119,023 shares of the company’s stock worth $1,278,000 after purchasing an additional 117,873 shares in the last quarter.

About BlackRock California Municipal Income Trust

BlackRock California Municipal Income Trust (NYSE: BFZ) is a diversified, closed-end management investment company that seeks to provide high current income exempt from federal and California state income taxes. Launched and managed by BlackRock Advisors, LLC, the fund primarily invests in a portfolio of investment-grade municipal obligations issued by California state and local governments. Its holdings include general obligation bonds, revenue bonds and other limited-obligation securities that finance infrastructure and public services across the state.

The fund’s investment objective emphasizes tax-exempt income through active portfolio management.