Nuveen California Quality Municipal Income Fund (NYSE:NAC) Shares Break Below Fifty Day Moving Average – Here’s What Happened

Shares of Nuveen California Quality Municipal Income Fund (NYSE:NAC) crossed below its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $10.82 and traded as low as $10.02. Nuveen California Quality Municipal Income Fund shares last traded at $10.1450, with a volume of 1,535,620 shares traded.

Nuveen California Quality Municipal Income Fund Stock Up 1.7%

The company has a fifty day simple moving average of $10.82 and a two-hundred day simple moving average of $11.52.

Nuveen California Quality Municipal Income Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Thursday, October 15th will be given a $0.0695 dividend. The ex-dividend date of this dividend is Thursday, October 15th. This represents a $0.83 dividend on an annualized basis and a dividend yield of 8.2%.

Hedge Funds Weigh In On Nuveen California Quality Municipal Income Fund

Several large investors have recently added to or reduced their stakes in NAC. Global Retirement Partners LLC purchased a new stake in Nuveen California Quality Municipal Income Fund in the 2nd quarter valued at about $45,000. Sanders Morris Harris LLC acquired a new position in shares of Nuveen California Quality Municipal Income Fund during the 3rd quarter valued at about $102,000. Cypress Wealth Services LLC purchased a new position in shares of Nuveen California Quality Municipal Income Fund during the 3rd quarter worth about $104,000. Axxcess Wealth Management LLC purchased a new position in shares of Nuveen California Quality Municipal Income Fund during the 3rd quarter worth about $122,000. Finally, Ameritas Advisory Services LLC lifted its holdings in shares of Nuveen California Quality Municipal Income Fund by 25.0% during the 2nd quarter. Ameritas Advisory Services LLC now owns 15,202 shares of the company’s stock worth $184,000 after acquiring an additional 3,045 shares during the period.

Nuveen California Quality Municipal Income Fund Company Profile

Nuveen California Quality Municipal Income Fund is a closed-end investment fund listed on the New York Stock Exchange under the symbol NAC. The fund seeks to provide current income that is exempt from regular federal income tax and California state income tax by investing primarily in municipal securities issued by California state and local governments, public authorities and related entities.

The fund’s portfolio may include general obligation bonds, revenue bonds and other tax-exempt municipal debt used to finance public services and infrastructure, such as education, transportation, utilities and health care facilities.