BFZ Stock Summary and Trading Ideas (Blackrock Ca Muni Income | NYSE:BFZ)

BlackRock California Municipal Income Trust’s (BFZ) (the “Trust”) investment objective is to provide current income exempt from regular U.S. federal income and California income taxes. The Trust seeks to achieve its investment objective by investing primarily in municipal obligations exempt from federal income taxes (except that the interest may be subject to the federal alternative minimum tax) and California income taxes. The Trust invests, under normal market conditions, at least 80% of its assets in municipal obligations that are investment grade quality. The Trust may invest directly in such securities or synthetically through the use of derivatives.

Blackrock Ca Muni Income trades on the NYSE stock market under the symbol BFZ.

As of April 15, 2024, BFZ stock price declined to $11.48 with 50,663 million shares trading.

BFZ has a beta of 0.55, meaning it tends to be less sensitive to market movements. BFZ has a correlation of 0.27 to the broad based SPY ETF.

BFZ has a market cap of $345.09 million. This is considered a Small Cap stock.

In the last 3 years, BFZ stock traded as high as $15.95 and as low as $9.86.

BFZ has underperformed the market in the last year with a return of +2.3%, while the SPY ETF gained +23.9%. In the last 3 month period, BFZ fell short of the market, returning -1.3%, while SPY returned +6.2%. However, in the most recent 2 weeks BFZ has outperformed the stock market by returning -2.5%, while SPY returned -3.4%.

BFZ support price is $11.49 and resistance is $11.63 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that BFZ stock will trade within this expected range on the day.