BlackRock California Municipal Income Trust (NYSE:BFZ) Stock Price Down 0.4% – Should You Sell?

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

BlackRock California Municipal Income Trust Trading Down 0.4%

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

Hedge Funds Weigh In On BlackRock California Municipal Income Trust

A number of institutional investors have recently bought and sold shares of the business. Rivernorth Capital Management LLC lifted its position in shares of BlackRock California Municipal Income Trust by 199.0% in the fourth quarter. Rivernorth Capital Management LLC now owns 977,578 shares of the company’s stock valued at $10,499,000 after buying an additional 650,601 shares during the last quarter. Fiera Capital Corp bought a new stake in BlackRock California Municipal Income Trust in the 4th quarter valued at $2,881,000. Royal Bank of Canada lifted its holdings 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 valued at $2,998,000 after purchasing an additional 225,323 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in BlackRock California Municipal Income Trust by 161.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 327,258 shares of the company’s stock worth $3,583,000 after purchasing an additional 201,972 shares during the period. Finally, Sit Investment Associates Inc. boosted its position in BlackRock California Municipal Income Trust by 10,249.8% during 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 during the period.

BlackRock California Municipal Income Trust Company Profile

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.