SoFi CEO enters prepaid forward contract on 1.5 million shares
In a challenging economic climate, BlackRock (NYSE:BLK) California Municipal Income Trust (BFZ) stock has reached a 52-week low, dipping to $10.97. The $332.2M fund offers a substantial 6.41% dividend yield, with InvestingPro data showing an impressive 25-year streak of consistent dividend payments. This latest price level reflects a notable decline in investor confidence as the fund grapples with the broader market’s headwinds. Despite market pressures, the fund maintains relatively low volatility with a beta of 0.55, and has shown resilience with a positive YTD return of 0.23%. This performance highlights the challenges that municipal bond funds have faced amidst fluctuating interest rates and economic uncertainties. Investors are closely monitoring the fund’s movements as they assess the municipal bond market’s potential for recovery and stabilization. InvestingPro subscribers can access 6 additional key insights about BFZ’s financial health and market position.
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