Meridian Investment Counsel Inc. Cuts Position in BlackRock California Municipal Income Trust (NYSE:BFZ)

Meridian Investment Counsel Inc. reduced its holdings in shares of BlackRock California Municipal Income Trust (NYSE:BFZ) by 4.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 41,400 shares of the company’s stock after selling 2,000 shares during the quarter. Meridian Investment Counsel Inc.’s holdings in BlackRock California Municipal Income Trust were worth $501,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in BFZ. Wolverine Asset Management LLC acquired a new position in shares of BlackRock California Municipal Income Trust during the 3rd quarter valued at $309,000. Farther Finance Advisors LLC purchased a new position in BlackRock California Municipal Income Trust in the third quarter valued at about $170,000. Trilogy Capital Inc. lifted its stake in shares of 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 purchasing an additional 79,952 shares in the last quarter. Cypress Wealth Services LLC purchased a new stake in shares of BlackRock California Municipal Income Trust in the third quarter worth about $250,000. Finally, Sanctuary Advisors LLC acquired a new stake in shares of BlackRock California Municipal Income Trust in the second quarter valued at about $509,000.

BlackRock California Municipal Income Trust Trading Down 0.7 %

Shares of NYSE:BFZ opened at $11.55 on Friday. BlackRock California Municipal Income Trust has a one year low of $10.89 and a one year high of $12.31. The business’s 50-day simple moving average is $11.96 and its 200 day simple moving average is $11.91.

BlackRock California Municipal Income Trust Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be paid a $0.059 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.71 annualized dividend and a dividend yield of 6.13%.

Insider Activity at BlackRock California Municipal Income Trust

In other BlackRock California Municipal Income Trust news, major shareholder Saba Capital Management, L.P. sold 30,293 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $11.82, for a total transaction of $358,063.26. Following the completion of the sale, the insider now owns 5,200,088 shares in the company, valued at $61,465,040.16. This trade represents a 0.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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.