Nuveen California Quality Municipal Income Fund (NYSE:NAC) Short Interest Update

Nuveen California Quality Municipal Income Fund (NYSE:NAC) saw a large increase in short interest during the month of March. As of March 13th, there was short interest totaling 653,909 shares, an increase of 111.8% from the February 26th total of 308,669 shares. Based on an average daily trading volume, of 568,196 shares, the days-to-cover ratio is currently 1.2 days.

Nuveen California Quality Municipal Income Fund Price Performance

Shares of NYSE:NAC traded down $0.02 during trading on Friday, reaching $11.48. 808,639 shares of the company’s stock traded hands, compared to its average volume of 538,006. Nuveen California Quality Municipal Income Fund has a 12 month low of $10.35 and a 12 month high of $12.25. The company has a 50 day moving average of $11.86 and a 200-day moving average of $11.80.

Nuveen California Quality Municipal Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be issued a $0.0735 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a c) annualized dividend and a dividend yield of 7.7%.

Institutional Investors Weigh In On Nuveen California Quality Municipal Income Fund

Large investors have recently added to or reduced their stakes in the stock. Morgan Stanley boosted its holdings in shares of Nuveen California Quality Municipal Income Fund by 36.6% during the fourth quarter. Morgan Stanley now owns 5,137,471 shares of the company’s stock valued at $60,674,000 after acquiring an additional 1,376,202 shares during the period. Guggenheim Capital LLC increased its holdings in shares of Nuveen California Quality Municipal Income Fund by 28.6% in the 4th quarter. Guggenheim Capital LLC now owns 2,938,681 shares of the company’s stock worth $34,706,000 after acquiring an additional 653,333 shares during the period. Wells Fargo & Company MN increased its holdings in shares of Nuveen California Quality Municipal Income Fund by 44.6% in the 4th quarter. Wells Fargo & Company MN now owns 1,994,983 shares of the company’s stock worth $23,561,000 after acquiring an additional 615,058 shares during the period. Advisors Asset Management Inc. lifted its position in Nuveen California Quality Municipal Income Fund by 53.4% in the 4th quarter. Advisors Asset Management Inc. now owns 1,349,549 shares of the company’s stock valued at $15,938,000 after purchasing an additional 469,939 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in Nuveen California Quality Municipal Income Fund by 48.7% during the 3rd quarter. Bank of America Corp DE now owns 735,480 shares of the company’s stock valued at $8,458,000 after purchasing an additional 240,862 shares during the period.

Nuveen California Quality Municipal Income Fund Company Profile

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.