BlackRock California Municipal Income Trust (NYSE:BFZ) Shares Sold by Sit Investment Associates Inc.

Sit Investment Associates Inc. trimmed its stake in BlackRock California Municipal Income Trust (NYSE:BFZ) by 90.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 38,669 shares of the company’s stock after selling 364,030 shares during the period. Sit Investment Associates Inc.’s holdings in BlackRock California Municipal Income Trust were worth $433,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Atala Financial Inc acquired a new position in shares of BlackRock California Municipal Income Trust in the fourth quarter worth about $1,068,000. Raymond James Financial Inc. acquired a new position in BlackRock California Municipal Income Trust in the 4th quarter worth approximately $529,000. Absolute Investment Advisers LLC acquired a new position in BlackRock California Municipal Income Trust in the 4th quarter worth approximately $387,000. Landscape Capital Management L.L.C. acquired a new stake in BlackRock California Municipal Income Trust during the 4th quarter valued at $147,000. Finally, Golden State Wealth Management LLC purchased a new stake in shares of BlackRock California Municipal Income Trust in the fourth quarter valued at $118,000.

BlackRock California Municipal Income Trust Stock Down 0.7 %

Shares of BlackRock California Municipal Income Trust stock opened at $11.12 on Monday. BlackRock California Municipal Income Trust has a 12 month low of $10.84 and a 12 month high of $12.23. The business has a fifty day simple moving average of $11.21 and a 200-day simple moving average of $11.51.

BlackRock California Municipal Income Trust Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th will be issued a $0.059 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $0.71 dividend on an annualized basis and a dividend yield of 6.37%.

Insider Transactions at BlackRock California Municipal Income Trust

In other news, major shareholder Saba Capital Management, L.P. sold 31,198 shares of the company’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $11.24, for a total value of $350,665.52. Following the transaction, the insider now directly owns 5,129,310 shares of the company’s stock, valued at approximately $57,653,444.40. This represents a 0.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold 280,937 shares of company stock valued at $3,162,753 over the last three months.

BlackRock California Municipal Income Trust Company 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.