Nuveen California Quality Municipal Income Fund (NYSE:NAC) Stock Short Interest Declines 42.0%

by · The Markets Daily

Nuveen California Quality Municipal Income Fund (NYSE:NAC – Get Free Report) was the recipient of a large decline in short interest during the month of September. As of September 15th, there was short interest totaling 507,099 shares, a decline of 42.0% from the August 31st total of 873,897 shares. Based on an average daily volume of 985,595 shares, the days-to-cover ratio is presently 0.5 days.

Nuveen California Quality Municipal Income Fund Stock Performance

NAC stock traded up $0.03 during trading on Thursday, hitting $10.28. 1,404,176 shares of the stock traded hands, compared to its average volume of 613,085. Nuveen California Quality Municipal Income Fund has a 1 year low of $10.19 and a 1 year high of $12.25. The firm’s 50 day moving average is $11.34 and its two-hundred day moving average is $11.69.

Nuveen California Quality Municipal Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be paid a $0.0695 dividend. This represents a $0.83 annualized dividend and a dividend yield of 8.1%. The ex-dividend date is Tuesday, September 15th.

Institutional Investors Weigh In On Nuveen California Quality Municipal Income Fund

A number of institutional investors have recently made changes to their positions in NAC. Global Retirement Partners LLC purchased a new position in Nuveen California Quality Municipal Income Fund in the 2nd quarter worth approximately $45,000. Harbour Investments Inc. purchased a new stake in Nuveen California Quality Municipal Income Fund during the 4th quarter valued at $106,000. Ameritas Advisory Services LLC increased its holdings in shares of Nuveen California Quality Municipal Income Fund by 25.0% in the 2nd quarter. Ameritas Advisory Services LLC now owns 15,202 shares of the company’s stock worth $184,000 after purchasing an additional 3,045 shares in the last quarter. Closed End Fund Advisors Inc. bought a new stake in shares of Nuveen California Quality Municipal Income Fund in the 4th quarter worth $206,000. Finally, NWF Advisory Services Inc. raised its stake in shares of Nuveen California Quality Municipal Income Fund by 20.0% in the first quarter. NWF Advisory Services Inc. now owns 18,490 shares of the company’s stock worth $215,000 after purchasing an additional 3,085 shares during the last quarter.

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 designed to provide current income that is exempt from regular federal income taxes and California state income taxes. The fund is part of Nuveen’s range of municipal bond investment products.

The fund invests primarily in investment-grade municipal obligations issued by states, municipalities and other governmental entities in California. Its portfolio may include bonds that finance public infrastructure and essential services, such as schools, transportation systems, utilities, health care facilities and other community projects.

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