Nuveen California Quality Municipal Income Fund (NYSE:NAC) Short Interest Up 66.3% in December

Nuveen California Quality Municipal Income Fund (NYSE:NAC) was the target of a significant increase in short interest during the month of December. As of December 15th, there was short interest totaling 326,941 shares, an increase of 66.3% from the November 30th total of 196,621 shares. Based on an average trading volume of 615,757 shares, the days-to-cover ratio is currently 0.5 days. Based on an average trading volume of 615,757 shares, the days-to-cover ratio is currently 0.5 days.

Nuveen California Quality Municipal Income Fund Price Performance

Shares of NAC traded up $0.01 during midday trading on Friday, reaching $11.79. The stock had a trading volume of 506,289 shares, compared to its average volume of 456,847. The company’s 50-day moving average is $11.87 and its 200 day moving average is $11.47. Nuveen California Quality Municipal Income Fund has a 12-month low of $10.35 and a 12-month high of $12.25.

Nuveen California Quality Municipal Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be paid a $0.0735 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a c) annualized dividend and a yield of 7.5%.

Institutional Investors Weigh In On Nuveen California Quality Municipal Income Fund

A number of hedge funds have recently made changes to their positions in NAC. Guggenheim Capital LLC boosted its stake in shares of Nuveen California Quality Municipal Income Fund by 13.0% in the 2nd quarter. Guggenheim Capital LLC now owns 1,810,250 shares of the company’s stock valued at $20,220,000 after purchasing an additional 207,951 shares in the last quarter. Rockefeller Capital Management L.P. raised its position in Nuveen California Quality Municipal Income Fund by 6.3% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 1,150,167 shares of the company’s stock worth $12,847,000 after purchasing an additional 67,853 shares during the period. Advisors Asset Management Inc. raised its position in Nuveen California Quality Municipal Income Fund by 18.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 879,610 shares of the company’s stock worth $10,116,000 after purchasing an additional 138,125 shares during the period. Bank of America Corp DE lifted its stake in Nuveen California Quality Municipal Income Fund by 48.7% in the third quarter. Bank of America Corp DE now owns 735,480 shares of the company’s stock worth $8,458,000 after purchasing an additional 240,862 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. boosted its position in Nuveen California Quality Municipal Income Fund by 8.6% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 377,589 shares of the company’s stock valued at $4,342,000 after buying an additional 29,841 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.