Nuveen California Quality Municipal Income Fund (NYSE:NAC) Sees Large Growth in Short Interest

by · The Markets Daily

Nuveen California Quality Municipal Income Fund (NYSE:NAC – Get Free Report) was the recipient of a significant growth in short interest during the month of January. As of January 15th, there was short interest totaling 369,279 shares, a growth of 21.5% from the December 31st total of 303,962 shares. Based on an average daily trading volume, of 533,959 shares, the days-to-cover ratio is currently 0.7 days. Based on an average daily trading volume, of 533,959 shares, the days-to-cover ratio is currently 0.7 days.

Nuveen California Quality Municipal Income Fund Price Performance

Shares of Nuveen California Quality Municipal Income Fund stock traded down $0.11 during mid-day trading on Wednesday, hitting $11.82. 301,513 shares of the stock were exchanged, compared to its average volume of 512,264. Nuveen California Quality Municipal Income Fund has a 12 month low of $10.35 and a 12 month high of $12.25. The company has a 50-day simple moving average of $11.86 and a 200 day simple moving average of $11.62.

Nuveen California Quality Municipal Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Friday, February 13th will be issued a $0.0735 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a c) annualized dividend and a dividend yield of 7.5%.

Institutional Investors Weigh In On Nuveen California Quality Municipal Income Fund

A number of hedge funds and other institutional investors have recently modified their holdings of NAC. Allworth Financial LP raised its holdings in Nuveen California Quality Municipal Income Fund by 0.6% in the 3rd quarter. Allworth Financial LP now owns 156,382 shares of the company’s stock worth $1,798,000 after purchasing an additional 863 shares in the last quarter. PFG Investments LLC lifted its position in Nuveen California Quality Municipal Income Fund by 0.5% during the fourth quarter. PFG Investments LLC now owns 188,895 shares of the company’s stock valued at $2,231,000 after purchasing an additional 872 shares during the period. Kestra Private Wealth Services LLC grew its holdings in shares of Nuveen California Quality Municipal Income Fund by 1.8% in the fourth quarter. Kestra Private Wealth Services LLC now owns 52,725 shares of the company’s stock worth $623,000 after acquiring an additional 939 shares during the period. Van Hulzen Asset Management LLC increased its position in shares of Nuveen California Quality Municipal Income Fund by 2.0% during the 2nd quarter. Van Hulzen Asset Management LLC now owns 51,950 shares of the company’s stock valued at $580,000 after purchasing an additional 1,000 shares during the last quarter. Finally, NWF Advisory Services Inc. raised its position in Nuveen California Quality Municipal Income Fund by 8.1% in the third quarter. NWF Advisory Services Inc. now owns 15,690 shares of the company’s stock worth $180,000 after acquiring an additional 1,170 shares during the period.

About Nuveen California Quality Municipal Income Fund

(Get Free Report)

Nuveen California Quality Municipal Income Fund (NYSE: NAC) is a closed-end management investment company that seeks to provide investors with a high level of current income exempt from federal and California state income taxes, with a secondary objective of capital appreciation. The fund primarily acquires a diversified portfolio of municipal securities issued by entities located in California, focusing on investment-grade bonds. These securities typically include general obligation bonds, revenue bonds and other taxable or tax-advantaged instruments that finance public projects such as transportation, education and utilities.

In managing the portfolio, the fund’s investment team applies rigorous credit research to identify issuers with strong balance sheets, stable revenue streams and manageable debt levels.

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