Advisors Asset Management Inc. Sells 28,552 Shares of BlackRock California Municipal Income Trust (NYSE:BFZ)

Advisors Asset Management Inc. lowered its stake in shares of BlackRock California Municipal Income Trust (NYSE:BFZ) by 6.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 435,148 shares of the company’s stock after selling 28,552 shares during the quarter. Advisors Asset Management Inc.’s holdings in BlackRock California Municipal Income Trust were worth $4,874,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Atala Financial Inc bought a new position in BlackRock California Municipal Income Trust during the fourth quarter valued at $1,068,000. Raymond James Financial Inc. purchased a new position in shares of BlackRock California Municipal Income Trust during the 4th quarter worth about $529,000. Absolute Investment Advisers LLC bought a new position in BlackRock California Municipal Income Trust during the 4th quarter valued at about $387,000. Golden State Wealth Management LLC purchased a new stake in BlackRock California Municipal Income Trust in the 4th quarter worth about $118,000. Finally, Wolverine Asset Management LLC lifted its stake in BlackRock California Municipal Income Trust by 33.3% in the fourth 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 during the last quarter.

BlackRock California Municipal Income Trust Stock Performance

Shares of NYSE:BFZ opened at $11.01 on Thursday. The business has a 50 day simple moving average of $11.27 and a two-hundred day simple moving average of $11.59. BlackRock California Municipal Income Trust has a 1 year low of $10.97 and a 1 year high of $12.23.

BlackRock California Municipal Income Trust Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a dividend of $0.059 per share. This represents a $0.71 dividend on an annualized basis and a yield of 6.43%. The ex-dividend date is Friday, March 14th.

Insider Buying and Selling at BlackRock California Municipal Income Trust

In other BlackRock California Municipal Income Trust news, major shareholder Saba Capital Management, L.P. sold 31,198 shares of the business’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $11.24, for a total value of $350,665.52. Following the completion of the sale, the insider now directly owns 5,129,310 shares of the company’s stock, valued at $57,653,444.40. The trade was a 0.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 280,937 shares of company stock valued at $3,162,753 in 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.