Golden State Wealth Management LLC Invests $118,000 in BlackRock California Municipal Income Trust (NYSE:BFZ)

Golden State Wealth Management LLC purchased a new stake in shares of BlackRock California Municipal Income Trust (NYSE:BFZ) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 10,572 shares of the company’s stock, valued at approximately $118,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Sanctuary Advisors LLC bought a new position in BlackRock California Municipal Income Trust during the 2nd quarter worth about $509,000. Trilogy Capital Inc. lifted its holdings in BlackRock California Municipal Income Trust by 292.8% during the third 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. Farther Finance Advisors LLC bought a new stake in BlackRock California Municipal Income Trust during the 3rd quarter valued at $170,000. Wolverine Asset Management LLC purchased a new position in shares of BlackRock California Municipal Income Trust in the 3rd quarter valued at $309,000. Finally, Advisors Asset Management Inc. increased its holdings in shares of BlackRock California Municipal Income Trust by 3.8% in the 3rd quarter. Advisors Asset Management Inc. now owns 463,700 shares of the company’s stock valued at $5,606,000 after acquiring an additional 17,144 shares during the period.

BlackRock California Municipal Income Trust Stock Performance

Shares of NYSE BFZ opened at $11.28 on Monday. BlackRock California Municipal Income Trust has a 1-year low of $11.10 and a 1-year high of $12.23. The business has a fifty day moving average price of $11.39 and a 200 day moving average price of $11.72.

BlackRock California Municipal Income Trust Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be issued a $0.059 dividend. This represents a $0.71 dividend on an annualized basis and a dividend yield of 6.28%. The ex-dividend date of this dividend is Friday, February 14th.

Insider Transactions at BlackRock California Municipal Income Trust

In other news, major shareholder Saba Capital Management, L.P. sold 31,198 shares of the firm’s stock in a transaction on Monday, January 27th. The stock was 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 owns 5,129,310 shares of the company’s stock, valued at $57,653,444.40. This trade represents a 0.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 260,933 shares of company stock valued at $2,935,672 in the last 90 days.

About BlackRock California Municipal Income Trust

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.