Nuveen California Municipal Value Fund (NYSE:NCA) Short Interest Update

Nuveen California Municipal Value Fund (NYSE:NCA) was the target of a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 52,800 shares, a growth of 59.5% from the February 28th total of 33,100 shares. Based on an average trading volume of 108,400 shares, the days-to-cover ratio is presently 0.5 days.

Nuveen California Municipal Value Fund Price Performance

NYSE:NCA traded down $0.01 during trading hours on Friday, hitting $8.65. 28,761 shares of the company traded hands, compared to its average volume of 78,934. The firm has a 50-day moving average of $8.61 and a 200 day moving average of $8.75. Nuveen California Municipal Value Fund has a twelve month low of $8.30 and a twelve month high of $9.23.

Nuveen California Municipal Value Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a dividend of $0.029 per share. This represents a $0.35 dividend on an annualized basis and a yield of 4.03%. The ex-dividend date of this dividend is Friday, March 14th.

Hedge Funds Weigh In On Nuveen California Municipal Value Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new stake in shares of Nuveen California Municipal Value Fund during the 4th quarter worth approximately $1,107,000. 1607 Capital Partners LLC boosted its stake in Nuveen California Municipal Value Fund by 19.7% during the fourth quarter. 1607 Capital Partners LLC now owns 364,971 shares of the company’s stock worth $3,084,000 after buying an additional 60,185 shares in the last quarter. Wedbush Securities Inc. increased its holdings in Nuveen California Municipal Value Fund by 17.4% in the 4th quarter. Wedbush Securities Inc. now owns 25,764 shares of the company’s stock valued at $218,000 after buying an additional 3,810 shares during the period. HighTower Advisors LLC raised its stake in shares of Nuveen California Municipal Value Fund by 14.3% in the 4th quarter. HighTower Advisors LLC now owns 20,000 shares of the company’s stock valued at $169,000 after buying an additional 2,500 shares in the last quarter. Finally, DKM Wealth Management Inc. bought a new position in shares of Nuveen California Municipal Value Fund during the 4th quarter worth about $152,000. 21.46% of the stock is currently owned by institutional investors.

Nuveen California Municipal Value Fund Company Profile

Nuveen California Municipal Value Fund is a closed-ended fixed income mutual fund launched by Nuveen Investments, Inc The fund is co-managed by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. It invests in the fixed income markets of California. The fund invests primarily in municipal securities rated Baa/BBB or better.