Nuveen California Quality Municipal Income Fund (NYSE:NAC) Stock Price Crosses Below 50 Day Moving Average – Time to Sell?

by · The Markets Daily

Nuveen California Quality Municipal Income Fund (NYSE:NAC – Get Free Report)’s share price crossed below its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $10.82 and traded as low as $10.02. Nuveen California Quality Municipal Income Fund shares last traded at $10.1450, with a volume of 1,535,620 shares.

Nuveen California Quality Municipal Income Fund Trading Down 2.6%

The company has a fifty day moving average of $10.78 and a two-hundred day moving average of $11.51.

Nuveen California Quality Municipal Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Thursday, October 15th will be paid a $0.0695 dividend. The ex-dividend date of this dividend is Thursday, October 15th. This represents a $0.83 annualized dividend and a dividend yield of 8.4%.

Institutional Investors Weigh In On Nuveen California Quality Municipal Income Fund

Institutional investors have recently made changes to their positions in the company. Global Retirement Partners LLC purchased a new position in shares of Nuveen California Quality Municipal Income Fund during the second quarter valued at approximately $45,000. Sanders Morris Harris LLC purchased a new stake in shares of Nuveen California Quality Municipal Income Fund in the third quarter worth approximately $102,000. Argyle Capital Partners LLC bought a new stake in shares of Nuveen California Quality Municipal Income Fund during the 3rd quarter worth approximately $102,000. Cypress Wealth Services LLC bought a new stake in shares of Nuveen California Quality Municipal Income Fund during the 3rd quarter worth approximately $104,000. Finally, Axxcess Wealth Management LLC purchased a new position in Nuveen California Quality Municipal Income Fund during the 3rd quarter valued at $122,000.

Nuveen California Quality Municipal Income Fund Company Profile

(Get Free Report)

Nuveen California Quality Municipal Income Fund is a closed-end investment fund listed on the New York Stock Exchange under the symbol NAC. The fund seeks to provide current income that is exempt from regular federal income tax and California state income tax by investing primarily in municipal securities issued by California state and local governments, public authorities and related entities.

The fund’s portfolio may include general obligation bonds, revenue bonds and other tax-exempt municipal debt used to finance public services and infrastructure, such as education, transportation, utilities and health care facilities.

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