diff --git a/yfinance/base.py b/yfinance/base.py
index 62482dd4f..683e1e218 100644
--- a/yfinance/base.py
+++ b/yfinance/base.py
@@ -379,7 +379,7 @@ def _get_ticker_tz(self):
         if not self._tz is None:
             return self._tz
 
-        tz = utils.cache_lookup_tkr_tz(self.ticker)
+        tz = utils.tz_cache.lookup(self.ticker)
 
         if tz is not None:
             invalid_value = not isinstance(tz, str)
@@ -391,7 +391,7 @@ def _get_ticker_tz(self):
 
             if invalid_value:
                 # Clear from cache and force re-fetch
-                utils.cache_store_tkr_tz(self.ticker, None)
+                utils.tz_cache.store(self.ticker, None)
                 tz = None
 
         if tz is None:
@@ -407,7 +407,7 @@ def _get_ticker_tz(self):
                     tz = None
             if tz is not None:
                 # info fetch is relatively slow so cache timezone
-                utils.cache_store_tkr_tz(self.ticker, tz)
+                utils.tz_cache.store(self.ticker, tz)
 
         self._tz = tz
         return tz
diff --git a/yfinance/utils.py b/yfinance/utils.py
index 64426603c..5a7a033b7 100644
--- a/yfinance/utils.py
+++ b/yfinance/utils.py
@@ -22,6 +22,8 @@
 from __future__ import print_function
 
 import datetime as _datetime
+from typing import Dict, Union
+
 import pytz as _tz
 import requests as _requests
 import re as _re
@@ -30,9 +32,10 @@
 import sys as _sys
 import os as _os
 import appdirs as _ad
+import sqlite3 as _sqlite3
+import atexit as _atexit
 
 from threading import Lock
-cache_mutex = Lock()
 
 try:
     import ujson as _json
@@ -88,7 +91,9 @@ def get_news_by_isin(isin, proxy=None, session=None):
     return data.get('news', {})
 
 
-def empty_df(index=[]):
+def empty_df(index=None):
+    if index is None:
+        index = []
     empty = _pd.DataFrame(index=index, data={
         'Open': _np.nan, 'High': _np.nan, 'Low': _np.nan,
         'Close': _np.nan, 'Adj Close': _np.nan, 'Volume': _np.nan})
@@ -488,44 +493,88 @@ def __str__(self):
         return str(self.prog_bar)
 
 
-# Simple file cache of ticker->timezone:
-def get_cache_dirpath():
-    return _os.path.join(_ad.user_cache_dir(), "py-yfinance")
+class _KVStore:
+    """Simpel Sqlite backed key/value store, key and value are strings. Should be thread safe."""
 
-def cache_lookup_tkr_tz(tkr):
-    fp = _os.path.join(get_cache_dirpath(), "tkr-tz.csv")
-    if not _os.path.isfile(fp):
-        return None
-    df = _pd.read_csv(fp, index_col="Ticker")
-    if not tkr in df.index:
-        return None
-    return df.loc[tkr,"Tz"]
+    def __init__(self, filename):
+        self._cache_mutex = Lock()
+        with self._cache_mutex:
+            self.conn = _sqlite3.connect(filename, timeout=10, check_same_thread=False)
+            self.conn.execute('pragma journal_mode=wal')
+            self.conn.execute('create table if not exists "kv" (key TEXT primary key, value TEXT) without rowid')
+            self.conn.commit()
+        _atexit.register(self.close)
 
-def cache_store_tkr_tz(tkr, tz):
-    dp = get_cache_dirpath()
-    fp = _os.path.join(dp, "tkr-tz.csv")
+    def close(self):
+        if self.conn is not None:
+            with self._cache_mutex:
+                self.conn.close()
+                self.conn = None
 
-    cache_mutex.acquire()
+    def get(self, key: str) -> Union[str, None]:
+        """Get value for key if it exists else returns None"""
+        item = self.conn.execute('select value from "kv" where key=?', (key,))
+        if item:
+            return next(item, (None,))[0]
 
-    if not _os.path.isdir(dp):
-        _os.makedirs(dp)
-    if (not _os.path.isfile(fp)) and (tz is not None):
-        # Initialise CSV file with first entry
-        df = _pd.DataFrame({"Tz":[tz]}, index=[tkr])
-        df.index.name = "Ticker"
-        df.to_csv(fp)
+    def set(self, key: str, value: str) -> str:
+        with self._cache_mutex:
+            self.conn.execute('replace into "kv" (key, value) values (?,?)', (key, value))
+            self.conn.commit()
 
-    else:
-        df = _pd.read_csv(fp, index_col="Ticker")
+    def bulk_set(self, kvdata: Dict[str, str]):
+        records = tuple(i for i in kvdata.items())
+        with self._cache_mutex:
+            self.conn.executemany('replace into "kv" (key, value) values (?,?)', records)
+            self.conn.commit()
+
+    def delete(self, key: str):
+        with self._cache_mutex:
+            self.conn.execute('delete from "kv" where key=?', (key,))
+            self.conn.commit()
+
+
+class _TzCache:
+    """Simple sqllite file cache of ticker->timezone"""
+
+    def __init__(self):
+        self._tz_db = None
+
+    def lookup(self, tkr):
+        return self.tz_db.get(tkr)
+
+    def store(self, tkr, tz):
         if tz is None:
-            # Delete if in cache:
-            if tkr in df.index:
-                df = df.drop(tkr)
-                df.to_csv(fp)
+            self.tz_db.delete(tkr)
+        elif self.tz_db.get(tkr) is not None:
+            raise Exception("Tkr {} tz already in cache".format(tkr))
         else:
-            if tkr in df.index:
-                raise Exception("Tkr {} tz already in cache".format(tkr))
-            df.loc[tkr,"Tz"] = tz
-            df.to_csv(fp)
+            self.tz_db.set(tkr, tz)
+
+    @property
+    def cache_dirpath(self):
+        return _os.path.join(_ad.user_cache_dir(), "py-yfinance")
+
+    @property
+    def tz_db(self):
+        # lazy init
+        if self._tz_db is None:
+            if not _os.path.isdir(self.cache_dirpath):
+                _os.makedirs(self.cache_dirpath)
+            self._tz_db = _KVStore(_os.path.join(self.cache_dirpath, "tkr-tz.db"))
+            self._migrate_cache_tkr_tz()
+
+        return self._tz_db
+
+    def _migrate_cache_tkr_tz(self):
+        """Migrate contents from old ticker CSV-cache to SQLite db"""
+        fp = _os.path.join(self.cache_dirpath, "tkr-tz.csv")
+        if not _os.path.isfile(fp):
+            return None
+        df = _pd.read_csv(fp, index_col="Ticker")
+        print(df.to_dict()['Tz'])
+        self.tz_db.bulk_set(df.to_dict()['Tz'])
+        _os.remove(fp)
+
 
-    cache_mutex.release()
+tz_cache = _TzCache()