BlackRock California Municipal Income Trust (NYSE:BFZ) Trading Down 0.4% – Time to Sell?

BlackRock California Municipal Income Trust (NYSE:BFZ) traded down 0.4% on Thursday . The company 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 Price Performance

The stock’s 50-day simple moving average is $11.02 and its 200 day simple moving average is $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 given a dividend of $0.0507 per share. The ex-dividend date of this dividend was Friday, February 6th. This represents a c) dividend on an annualized basis and a dividend yield of 5.5%.

Institutional Trading of BlackRock California Municipal Income Trust

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rivernorth Capital Management LLC boosted its position 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 during the period. Fiera Capital Corp acquired a new position in BlackRock California Municipal Income Trust during the 4th quarter worth about $2,881,000. Royal Bank of Canada lifted its stake in 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 boosted its holdings in BlackRock California Municipal Income Trust by 161.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 327,258 shares of the company’s stock valued at $3,583,000 after acquiring an additional 201,972 shares during the period. Finally, Sit Investment Associates Inc. boosted its holdings in BlackRock California Municipal Income Trust by 10,249.8% during the 4th quarter. Sit Investment Associates Inc. now owns 119,023 shares of the company’s stock valued at $1,278,000 after acquiring an additional 117,873 shares during the period.

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.