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

Shares of Nuveen California Quality Municipal Income Fund (NYSE:NAC) crossed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $11.99 and traded as low as $11.94. Nuveen California Quality Municipal Income Fund shares last traded at $11.9450, with a volume of 338,589 shares changing hands.

Nuveen California Quality Municipal Income Fund Price Performance

The business has a 50 day simple moving average of $11.99 and a 200-day simple moving average of $11.89.

Nuveen California Quality Municipal Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Wednesday, July 15th will be paid a $0.0695 dividend. The ex-dividend date is Wednesday, July 15th. This represents a c) annualized dividend and a dividend yield of 7.0%.

Hedge Funds Weigh In On Nuveen California Quality Municipal Income Fund

Large investors have recently made changes to their positions in the stock. Hennion & Walsh Asset Management Inc. grew its position in shares of Nuveen California Quality Municipal Income Fund by 17.4% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 518,286 shares of the company’s stock valued at $6,282,000 after purchasing an additional 76,673 shares in the last quarter. Mirador Capital Partners LP purchased a new stake in shares of Nuveen California Quality Municipal Income Fund in the second quarter worth $390,000. Western Wealth Management LLC raised its position in shares of Nuveen California Quality Municipal Income Fund by 189.2% in the first quarter. Western Wealth Management LLC now owns 43,515 shares of the company’s stock worth $507,000 after buying an additional 28,466 shares in the last quarter. NewEdge Advisors LLC boosted its stake in Nuveen California Quality Municipal Income Fund by 7.3% during the first quarter. NewEdge Advisors LLC now owns 71,293 shares of the company’s stock valued at $831,000 after buying an additional 4,864 shares during the period. Finally, Bank of America Corp DE boosted its stake in Nuveen California Quality Municipal Income Fund by 11.7% during the first quarter. Bank of America Corp DE now owns 932,762 shares of the company’s stock valued at $10,867,000 after buying an additional 97,905 shares during the period.

About Nuveen California Quality Municipal Income Fund

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.