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

Nuveen California Quality Municipal Income Fund (NYSE:NAC) was the target of a large drop in short interest in March. As of March 31st, there was short interest totalling 189,500 shares, a drop of 40.9% from the March 15th total of 320,700 shares. Based on an average daily volume of 434,200 shares, the days-to-cover ratio is currently 0.4 days.

Nuveen California Quality Municipal Income Fund Stock Performance

Shares of Nuveen California Quality Municipal Income Fund stock traded up $0.05 during mid-day trading on Thursday, hitting $10.71. The stock had a trading volume of 343,336 shares, compared to its average volume of 466,087. Nuveen California Quality Municipal Income Fund has a 12-month low of $10.35 and a 12-month high of $12.03. The firm has a 50-day moving average of $11.24 and a two-hundred day moving average of $11.40.

Nuveen California Quality Municipal Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th will be issued a $0.0735 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $0.88 annualized dividend and a dividend yield of 8.24%.

Institutional Trading of Nuveen California Quality Municipal Income Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NAC. Guggenheim Capital LLC lifted its stake in Nuveen California Quality Municipal Income Fund by 8.7% during the 4th quarter. Guggenheim Capital LLC now owns 1,557,366 shares of the company’s stock worth $17,583,000 after acquiring an additional 124,309 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Nuveen California Quality Municipal Income Fund by 3.1% in the fourth quarter. Wells Fargo & Company MN now owns 1,125,822 shares of the company’s stock valued at $12,711,000 after purchasing an additional 33,447 shares in the last quarter. Rockefeller Capital Management L.P. lifted its stake in Nuveen California Quality Municipal Income Fund by 9.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 933,059 shares of the company’s stock worth $10,534,000 after acquiring an additional 82,323 shares during the last quarter. Robinson Capital Management LLC increased its holdings in Nuveen California Quality Municipal Income Fund by 33.5% in the fourth quarter. Robinson Capital Management LLC now owns 814,746 shares of the company’s stock valued at $9,198,000 after buying an additional 204,350 shares during the last quarter. Finally, Bank of America Corp DE raised its position in shares of Nuveen California Quality Municipal Income Fund by 54.6% during the 4th quarter. Bank of America Corp DE now owns 467,107 shares of the company’s stock worth $5,274,000 after acquiring an additional 164,927 shares in the last quarter.

Nuveen California Quality Municipal Income Fund Company Profile

Nuveen California Quality Municipal Income 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, United States. The fund invests in undervalued municipal securities and other related investments that are exempt from regular federal and California income taxes.