BlackRock California Municipal Income Trust (NYSE:BFZ) Stake Reduced by Rivernorth Capital Management LLC

Rivernorth Capital Management LLC cut its holdings in BlackRock California Municipal Income Trust (NYSE:BFZ) by 49.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 90,258 shares of the company’s stock after selling 88,100 shares during the quarter. Rivernorth Capital Management LLC’s holdings in BlackRock California Municipal Income Trust were worth $1,091,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Advisors Asset Management Inc. raised its position in BlackRock California Municipal Income Trust by 3.8% in the third quarter. Advisors Asset Management Inc. now owns 463,700 shares of the company’s stock worth $5,606,000 after acquiring an additional 17,144 shares in the last quarter. Trilogy Capital Inc. raised its holdings in BlackRock California Municipal Income Trust by 292.8% during the 3rd quarter. Trilogy Capital Inc. now owns 107,261 shares of the company’s stock worth $1,297,000 after buying an additional 79,952 shares during the period. Sanctuary Advisors LLC acquired a new stake in BlackRock California Municipal Income Trust during the 2nd quarter worth about $509,000. Wolverine Asset Management LLC acquired a new stake in BlackRock California Municipal Income Trust during the 3rd quarter worth about $309,000. Finally, Cypress Wealth Services LLC acquired a new stake in BlackRock California Municipal Income Trust during the 3rd quarter worth about $250,000.

Insiders Place Their Bets

In other news, major shareholder Saba Capital Management, L.P. sold 30,293 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $11.82, for a total value of $358,063.26. Following the transaction, the insider now owns 5,200,088 shares in the company, valued at $61,465,040.16. This represents a 0.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

BlackRock California Municipal Income Trust Stock Performance

NYSE BFZ opened at $11.68 on Thursday. The stock’s 50-day moving average price is $11.83 and its two-hundred day moving average price is $11.90. BlackRock California Municipal Income Trust has a 1 year low of $11.27 and a 1 year high of $12.31.

BlackRock California Municipal Income Trust Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 15th were issued a dividend of $0.059 per share. The ex-dividend date was Friday, November 15th. This represents a $0.71 annualized dividend and a yield of 6.06%.

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.