Short Interest in Nuveen California Quality Municipal Income Fund (NYSE:NAC) Drops By 15.0%
by Renee Jackson · The Cerbat GemNuveen California Quality Municipal Income Fund (NYSE:NAC – Get Free Report) was the target of a significant decrease in short interest in March. As of March 31st, there was short interest totaling 555,758 shares, a decrease of 15.0% from the March 15th total of 653,909 shares. Based on an average trading volume of 725,670 shares, the short-interest ratio is currently 0.8 days.
Nuveen California Quality Municipal Income Fund Stock Performance
NAC traded up $0.08 on Friday, hitting $11.80. 676,839 shares of the company were exchanged, compared to its average volume of 568,102. Nuveen California Quality Municipal Income Fund has a 12 month low of $10.52 and a 12 month high of $12.25. The stock’s fifty day moving average is $11.81 and its 200-day moving average is $11.82.
Nuveen California Quality Municipal Income Fund Dividend Announcement
The firm also recently declared a monthly dividend, which will be paid on Friday, May 1st. Shareholders of record on Wednesday, April 15th will be given a dividend of $0.0735 per share. This represents a c) dividend on an annualized basis and a yield of 7.5%. The ex-dividend date of this dividend is Wednesday, April 15th.
Hedge Funds Weigh In On Nuveen California Quality Municipal Income Fund
A number of institutional investors have recently bought and sold shares of the business. Morgan Stanley increased its position in Nuveen California Quality Municipal Income Fund by 36.6% during the fourth quarter. Morgan Stanley now owns 5,137,471 shares of the company’s stock worth $60,674,000 after buying an additional 1,376,202 shares during the last quarter. Guggenheim Capital LLC grew its position in shares of Nuveen California Quality Municipal Income Fund by 28.6% in the fourth quarter. Guggenheim Capital LLC now owns 2,938,681 shares of the company’s stock valued at $34,706,000 after purchasing an additional 653,333 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of Nuveen California Quality Municipal Income Fund by 44.6% in the fourth quarter. Wells Fargo & Company MN now owns 1,994,983 shares of the company’s stock valued at $23,561,000 after purchasing an additional 615,058 shares during the last quarter. Advisors Asset Management Inc. grew its position in shares of Nuveen California Quality Municipal Income Fund by 53.4% in the fourth quarter. Advisors Asset Management Inc. now owns 1,349,549 shares of the company’s stock valued at $15,938,000 after purchasing an additional 469,939 shares during the last quarter. Finally, Bank of America Corp DE grew its position in shares of Nuveen California Quality Municipal Income Fund by 48.7% in the third quarter. Bank of America Corp DE now owns 735,480 shares of the company’s stock valued at $8,458,000 after purchasing an additional 240,862 shares during the last quarter.
Nuveen California Quality Municipal Income Fund Company Profile
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.